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MEDIA RELEASE
SIGNATURES

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Directors: C M T Thompson* (Chairman), A J Wright (Deputy Chairman), I D Cockerill† (Chief Executive Officer), N J Holland† (Financial Director), G J Gerwel,
J M McMahon†, G R Parker‡, R Pennant-Rea†, P J Ryan, T M G Sexwale, B R van Rooyen, C I von Christierson
*Canadian, †British, ‡American Company Secretary: V D MacDonald

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Attributable gold production for the March 2003 quarter, despite the sale of St. Helena, was essentially flat at 1,072,000 ounces versus 1,091,000 ounces in the December 2002 quarter. Twenty-nine per cent of these ounces produced came from international operations. Australia’s production was steady, with slightly improved yields, while Ghana reported record tons crushed at Tarkwa and increased production at both operations. At the South African operations, the production increase continued at both Kloof and Beatrix due to increased underground tonnage. This was offset by lower production at Driefontein and the sale of St. Helena last quarter.

Comparing this nine-month period ended 31 March 2003 to the nine months ended 31 March 2002, revenue has increased by 25% in Rand terms (32% in US Dollar terms) from R8,703 million (US$870 million) to R10,922 million (US$1,149 million) due to increased production and an increase in the gold price from R92,146 to R100,302 per kilogram. During this nine-month period, attributable gold production increased 12% over the previous nine-month period from 2,951,000 ounces to 3,293,000 ounces mainly as a result of the acquisitions of the Australian and Damang operations.

The balance sheet still remains strong with cash at this quarter’s end remaining similar to the last quarter, despite the payment of a substantial bi-annual dividend. Cash at the end of this period was R1,821 million (US$224 million) compared to R1,926 million (US$217 million) at the end of December.

Ian Cockerill, Chief Executive Officer of Gold Fields, said: “Our operations did well during the March quarter to produce an excellent set of operational results despite the challenges posed by the extended number of public holidays over the Christmas season and the strengthening of the Rand.”

“The June quarter is posing even greater challenges as this quarter is characterized by even more public holidays, unevenly spread throughout the period. Combined with an ever-strengthening South African Rand that has continued into the current quarter, shareholders are advised that this is expected to have a much more pronounced impact on our next set of quarterly results,” said Cockerill.

A significant announcement this quarter is the completion of the feasibility study for the determination of long-term operating strategy at Tarkwa. The decision has been made to proceed with two significant investments at this mine. The first involves the installation of a 4.2 million ton per annum (mtpa) mill and CIL facility at a cost of US$85 million and the second, the acquisition of a new fleet of mining and support equipment at a cost of US$74 million, relating to a conversion from contractor to owner mining. The capital investment will be undertaken between June 2003 and December 2004, with the goal of having the mill commissioned by the end of 2004 and the conversion to owner mining commencing in June 2004. This expansion will increase annual throughput to 19 mtpa, while increasing annual gold production from the current 525,000 ounces to over 700,000 ounces.

On 20 March 2003, the South African Government released for public comment the draft Minerals and Petroleum Royalty Bill. The Bill proposes, inter alia, the imposition of a 3% royalty charge on the revenues of all South African gold mining operations, effective on conversion of mining rights as per the Minerals and Petroleum Resources Development Act passed earlier in this year. We are of the opinion that, in its current form, the Bill will have profoundly negative consequences for the gold mining industry in South Africa. It will, amongst other things, impact Black Economic Empowerment; reduce the viability of existing operations; increase pay-limits, and, consequently, cause job losses; substantially increase hurdle rates for new and organic growth projects; and potentially negate much of the goodwill that has been clawed back after the damage to investor sentiment caused by the leaked Mining Charter.

Gold Fields has submitted its detailed comments on the Bill through the Chamber of Mines as well as directly to the Department of Finance and the Department of Minerals and Energy. The initial response of the Minister of Finance, Mr. Trevor Manuel, has been encouraging and we are hopeful for a positive conclusion to this final chapter in the legislative transformation of the South African mining industry.

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As recently reported by the media, Mr Edward Fagan, a well known New York lawyer, has sent Gold Fields a letter claiming he acts on behalf of a number of ex-employees, alleging forced labour and exposure to unsafe working practices, chemicals and other substances. He further claims that they will seek legal recourse through the US courts, under the Alien Tort Claims Act. To date Gold Fields Limited has been unable to establish the exact nature of these claims and is not aware of any suit having been filed in the US. We will keep shareholders appraised of any future development in this matter. If we establish that shareholder or company interests are frivolously or inappropriately prejudiced, we will not hesitate to take aggressive action either here or in the US.

Gold Fields is the world’s largest unhedged gold company, with annual attributable gold production of over 4.4 million ounces and attributable Mineral Resources of 187 million ounces and Mineral Reserves of 79 million ounces. It has operations in South Africa, Australia and Ghana (West Africa) and gold and platinum group metals exploration projects throughout the world. The principal trading market for the Company’s ordinary shares is the Johannesburg Securities Exchange in South Africa (GFI). The company’s American Depositary shares are listed on the New York Stock Exchange, also under the symbol GFI, as well as being listed on the London, Euronext, Paris, Brussels, and Swiss exchanges.

FULL RESULTS AVAILABLE AT
WWW.GOLDFIELDS.CO.ZA

SALIENT FEATURES
SA Rand																																	US Dollars
Nine months to									Quarter																								Quarter												Nine months to
March					March				March				Dec				March																March				Dec				March				March				March
2002					2003				2002				2002				2003																2003				2002				2002				2003				2002
	91,767					102,433				33,620				33,930				33,340			kg				Gold produced*				oz (000)					1,072				1,091				1,081				3,293				2,951
	56,174					61,263				59,138				61,853				60,709			R/kg				Total cash costs				$/oz					225				197				160				200				175
	25,939					32,063				9,910				10,560				10,792				000			Tons milled					000				10,792				10,560				9,910				32,063				25,939
	92,146					100,302				107,732				100,969				95,068			R/kg				Revenue				$/oz					353				321				291				328				284
	216					216				221				222				201			R/ton				Operating costs				$/ton					24				23				19				23				22
	3,175					4,023				1,614				1,319				1,126			Rm				Operating profit				$m					135				136				149				423				318
	1,893					2,164				1,049				817				805			Rm				Net earnings				$m					93				83				98				228				189
	413					459				224				173				171			SA c.p.s								US c.p.s.					20				18				21				48				41
	1,759					1,785				933				574				476			Rm				Net earnings excluding gains and losses on financial instruments and foreign debt net of cash and exceptional items				$m					58				59				81				188				176
	380					378				199				122				101			SA c.p.s								US c.p.s.					12				13				17				40				38

*Attributable – All companies wholly owned except for Ghana (71.1%).

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.