JOINT ANNOUNCEMENT BY ANGLO AMERICAN PLC, EVRAZ GROUP S.A. AND CREDIT SUISSE

14 July 2006

Anglo American plc (“Anglo American”), Evraz Group S.A. (“Evraz”) and Credit Suisse (“Credit Suisse”) are pleased to announce that agreement has been reached in relation to the sale by Anglo American of its shares in Highveld Steel and Vanadium Corporation Limited (“Highveld”). Evraz and Credit Suisse have each acquired 24.9% of Highveld’s share capital from Anglo American. These sales have closed.

Evraz has an option to increase its stake in Highveld once regulatory approvals are received, including from competition authorities in South Africa and elsewhere. Evraz intends to file for such regulatory approvals as soon as possible. Subject to Evraz receiving such regulatory approvals, Evraz will be entitled to purchase Anglo American’s remaining 29.2% shareholding as well as the 24.9% holding of Credit Suisse through separate option agreements. Should Evraz increase its interest beyond 35%, it will be obliged to make an offer to all shareholders of Highveld.

On implementation of the Anglo American option arrangement, the aggregate amount that will have been realised by Anglo American for its 79% interest in Highveld is R4,885m (US8m converted to ZAR at R7.20/US$, the rate of exchange prevailing at the date of this announcement), equivalent to an average of R62.36 per Highveld share. This represents a 13% premium to the volume weighted average price of R55.15 per share for the 30-day period preceding Anglo American’s announcement on 26 October 2005 in which it recorded, inter alia, its intention to dispose of its
shareholding in Highveld.

Anglo American and Credit Suisse have agreed that Anglo American will retain the voting rights in respect of the shares acquired by Credit Suisse. Anglo American will retain representatives on the Highveld board until such time as Anglo American disposes of all its shares in Highveld.

Evraz’s Chairman, Alexander Frolov, said: “Evraz has great confidence in the South African steel industry and is excited by its new investment in Highveld and by the outlook for steel and vanadium markets. The South African steel market is
experiencing strong demand growth driven by an upswing in new mining, infrastructure and industrial projects. We have high expectations of Highveld’s internal growth plans for both its vanadium and steel businesses, including the expansion plan in excess of R1bn which will increase steel output by more than 20%.

Evraz is committed to advancing black economic empowerment at Highveld.” Tony Trahar, Chief Executive of Anglo American, said: “This represents another important step in the execution of the Group's strategy as announced in October last year. This substantial foreign direct investment by Evraz and Credit Suisse in South Africa is a strong vote of confidence in the country’s prospects and will ensure that Highveld remains an efficient competitor in the South African and global markets.”

Citigroup has acted as exclusive financial adviser to Anglo American with respect to the transaction. Credit Suisse and ABN Amro have acted as joint financial advisers to Evraz.