Media releases

Class action lawsuit

Details

Published: Friday, 24 June 2005 02:00

DRDGOLD today announced that a class action lawsuit was commenced against the Company, its CEO, Mark Wellesley-Wood, and CFO, Ian Louis Murray.
Johannesburg, South Africa. 24 June 2005. DRDGOLD Limited (JSE: DRD; NASDAQ: DROOY; ASX: DRD; POM SoX: DRD)DRDGOLD Limited (Nasdaq: DROOY), formerly known as Durban Roodepoort Deep, Limited, today announced that a class action lawsuit was commenced against the Company, its CEO, Mark Wellesley-Wood, and CFO, Ian Louis Murray.

The lawsuit was filed on June 13, 2005 and is pending in the United States District Court for the Southern District of New York on behalf of a putative class of purchasers of DRDGOLD Limited securities.

The lawsuit alleges that the Company made certain false and misleading statements between October 23, 2003 and February 24, 2005 in violation of provisions of the United States securities laws. Two similar suits have also reportedly been filed.

DRDGOLD Limited and its officers have not been served with legal process for the lawsuits but expect to be served in the future. The Company is in the process of selecting and engaging legal counsel to defend against the suits.

DRDGOLD Limited, Mr. Wellesley-Wood, and Mr. Murray deny the claims that have reportedly been made in the lawsuits, believe the suits to be entirely without merit, and intend vigorously to defend against the allegations of the lawsuits.

DRDGOLD Limited anticipates that the three class action lawsuits, and any other similar lawsuits, will be consolidated and proceed as a single litigation. Accordingly, DRDGOLD Limited does not intend separately to announce the filing of any other such lawsuits.

Queries:

South Africa
Investor and Media Relations
Ilja Graulich, DRDGOLD
+27 11 381 7826 (office)
+27 83 604 0820 (mobile)

James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)

North America
Investor and Media Relations
Barbara Cano, Breakstone & Ruth International
+1 646-536-7015 (office)

Australasia
Investor and Media Relations
Paul Downie, Porter Novelli
+61 893 861 233 (office)
+61 414 947 129 (mobile)

United Kingdom/Europe
Investor and Media Relations
Phil Dexter, St James's Corporate Services
+44 20 7499 3916 (office)
+44 779 863 4398

---

DRDGOLD is an intermediate unhedged gold producer with mines in South Africa as well as Australasia. The company’s production profile is split equally between its highly leveraged SA operations and its low cost, cash generative offshore mines.

DRDGOLD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London and Port Moresby stock exchanges and the Paris and Brussels Bourses. Its shares are also traded on the regulated unofficial market of the Frankfurt Stock Exchange and the Berlin OTC Market.

For more information, please visit www.drdgold.com

---

FORWARD-LOOKING STATEMENTS
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or other financial performance, including forward-looking statements and information relating to DRDGOLD that are based on the beliefs of management, as well as assumptions made by and information currently available to management. When used in this press release, the words "estimate", "project", "believe", "anticipate", "intend", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect management¹s current views with respect to future events and are subject to risks, uncertainties and assumptions. These statements include the Company's ability to continue as a going concern, its ability to successfully restructure the South African operations and, in particular the North West operations, its ability to significantly reduce its costs in South Africa, its ability to fund its future commitments, including the restructure of the North West Operations.

Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a continuing strengthening of the Rand against the Dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licenses or other governmental approvals, changes in DRDGOLD¹s competitive position, changes in business strategy, any major disruption in production at our key facilities or adverse changes in foreign exchange rates and various other factors.

These risks include, without limitation, those described in the section entitled "Risk Factors" included in our annual report for the fiscal year ended 30 June 2004, which we filed with the United States Securities and Exchange Commission on 29 November 2004 on Form 20-F, as amended by the Form 20-F/A filed on December 3, 2004, and those detailed from time to time with the United States Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this report or to the occurrence of unanticipated events.

This release is not an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from DRDGOLD, which will contain detailed information about DRDGOLD and its management, as well as financial statements.