Change to the Board

Northam Platinum Limited announces that Ian Watson will be retiring as Managing Director with effect from 31 December 2002. Ian will be succeeded by Glyn Lewis, who will report to the Board as General Manager.

Another Safety Record for Northam

Northam Platinum, the world's deepest platinum mine, has notched up another safety record by achieving an award for having worked 2 million fatality-free shifts.

Letter to Shareholders: Reduction and Repayment of Share Premium

Subsequent to the declaration and payment of dividend number 8 during August/September 2002, the board obtained legal opinion which confirmed that its interpretation of the company's articles of association, read in conjunction with Section 90 of the Companies Act, was not correct in that the amount distributed of 175 cents per share included a capital payment, being share premium, of 75 cents per share.

Response to Article Published in the Press on 6 October 2002

The management of Northam is aware of speculation in the press regarding talks with Harmony Gold Mining Company Limited ("Harmony"). Management denies that any such discussions have taken place between Northam and Harmony.

Northam Delivers Solid Performance and Forecasts Improvements for the Year Ahead

Northam Platinum Limited today reported solid results for its financial year ended June 2002 with production at 8 458 kg of metals in concentrate (3PGE+Au), and earnings of R398 million. This result was achieved despite a significant drop in metal prices over the year.

Northam Rebounds after Strike

Although Northam’s results for the six months ended 31 December had been disappointing due largely to substantially lower dollar metal prices and the effects of the unfortunate strike action in the first quarter, there were encouraging signs of an operational rebound, said Managing Director Ian Watson today.