Media releases

DRDGOLD wins R35.7 million case against JCI Gold/CAM

Johannesburg High Court Judge Lewis Goldblatt today ordered Brett Kebble’s JCI Gold and CAM to pay DRDGOLD an amount of R35.7 million, plus interest and costs, including the costs of two counsel.
417/04-jmd

Johannesburg, South Africa. 21 October 2004. Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD; POM SoX: DRD) Johannesburg High Court Judge Lewis Goldblatt today ordered Brett Kebble’s JCI Gold Limited (JCI Gold) and Consolidated African Mines Limited (CAM) to pay Durban Roodepoort Deep, Limited (DRDGOLD) an amount of R35.7 million, plus interest and costs, including the costs of two counsel.

The claim relates to an undertaking Kebble had given to pay DRDGOLD an option fee for warehousing shares which DRDGOLD acquired as part of Project Eagle, JCI Gold’s unsuccessful endeavour to incorporate Randfontein Estates Gold Mine into Western Areas. DRDGOLD instituted proceedings when JCI/CAM, after paying a small portion of the fee, refused to pay the balance of the claim.

JCI/CAM's counterclaim to recover the earlier part-payment was also dismissed with costs.

In his summation, Judge Goldblatt called JCI/CAM's evidence on the accounting treatment of DRDGOLD's claim, which accrued over some 14 months, "nonsense" and a "deliberate lie". He also dismissed as "manifestly false", JCI/CAM's contention that the earlier payment to DRDGOLD was made under the mistaken belief that it was due.

DRDGOLD CEO Ian Murray said: “This outcome vindicates the DRDGOLD Board’s decision to pursue the recovery of shareholder funds in related party transactions.”

Note to editors:


A copy of the full judgement is available on the DRDGOLD website, www.drdgold.com

Queries:

South Africa
Investor and Media Relations
Ilja Graulich, Durban Roodepoort Deep, Limited
+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 Relations
Susan Borinelli, Breakstone & Ruth International
+1 646-536-7018 (office)
+1 917-570-8421 (mobile)

Media Relations
Jessica Anderson, Breakstone & Ruth International
+1 646-536-7002 (office)
+1 347-423-5859 (mobile)

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 the world’s 9th largest gold producer, with mines in South Africa as well as Australasia, a key target for growth. The company has a track record of success in extending the lives of older mines safely and profitably. For fiscal year 2003, DRDGOLD produced 870 000 ounces of gold, up from under 100 000 ounces a year in 1997, when current operations were amalgamated.

DRDGOLD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London Stock Exchange 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



Some of the information in this media release may contain projections or other forward looking statements regarding future events or other future financial performance. We wish to caution you that these statements are only projections and those actual events or results may differ materially. In reviewing, please refer to the documents that we file from time to time with the SEC, specifically to our annual report on Form 20-F. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward looking statements, including such risks as difficulties in being a marginal producer of gold, changes and reliability of ore reserve estimates, gold price volatility, currency fluctuations, problems in the integration of operations, exploration and mining risks and a variety of risks described in our annual report on Form 20-F. We undertake no obligation to publicly release results of any of these forward looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected results.

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