S&P Emerging Markets Database Index Announcement: - South Africa- Western Areas Ltd. Rights Issue

S&P/EMDB index calculation will not recognize a rights issue of 13.1720 million shares (1 per 8) having an ex-date of June 28, 2004 for Western Areas Ltd. (EMDB Code 696680.1 / SEDOL 6953807), an S&P/IFCG and S&P/IFCI South African index constituent. The subscription price is at a 9.7% premium to the market price on the ex-date. When subscribed shares are listed, the number of shares outstanding will be adjusted upward via a new issue.