<Page>
EXHIBIT 1
<Page>
EXHIBIT 1
[DURBAN ROODEPOORT DEEP, LIMITED LETTERHEAD]
(Incorporated in the Republic of South Africa)
Registration No.1895/000926/06
ARBN 086 277616
JSE trading symbol : DUR
ISIN Code : ZAE000015079 ; Issuer code: DUSM
NASDAQ trading symbol : DROOY
REPORT TO SHAREHOLDERS FOR THE 1ST QUARTER ENDED 30 SEPTEMBER 2002
GROUP RESULTS
HIGHLIGHTS
- Black empowerment transaction successfully concluded
- Gold price received up : US$ 31 per ounce
R 11,712 per kilogram
- Cost increase due to annual wage increase of 8.5%
- Headline earnings up : 47% to US$ 7.8 million
92% to ZAR 82.1 million
- Headline EPS up : 39% to 4.3 US cent
80% to 45.1 ZAR cent
- Acquisition of ERPM by CGR completed after quarter-end
KEY OPERATING RESULTS
<Table>
<Caption>
Quarter
QUARTER Jun 2002 Quarter
SEP 2002 Pro-forma * Jun 2002
-------- ----------- --------
Gold production attributable oz 228,270 226,913 247,207
kg 7,100 7,058 7,689
Cash operating costs US$/oz 247 227 227
R/kg 82,878 76,170 76,272
Cash operating profit US$ m 11.2 9.1 11.0
R m 118.0 83.5 101.9
Headline earnings US$ m 7.8 4.9 5.3
R m 82.1 38.0 42.8
Gold price received US$/oz 315 285 284
R/kg 105,586 94,049 93,874
</Table>
(* QTR JUN 2002 RESTATED TO REFLECT 60% SALE OF CGR FOR COMPARISON PURPOSES
ONLY)
LETTER TO SHAREHOLDERS
Dear shareholder
OVERALL PERFORMANCE
It is my pleasure to report the results of an unhedged Durban Roodepoort Deep,
Limited for the first quarter of the new financial year. With all production now
receiving the spot gold price, the company increased headline earnings from US$
5.3 million (R 42.8 million) in the June quarter to US$ 7.8 million (R 82.1
million) this quarter.
During the period under review, Durban Roodepoort Deep, Limited's attributable
gold production decreased by eight per cent as a result of the sale of a sixty
per cent interest in Crown Gold Recoveries (Pty) Limited (CGR) to Khumo Bathong
Holdings (Pty) Limited (KBH). A pro-forma restatement of the previous quarter
results to reflect the effect of the sale have been done for comparison purposes
and on this basis, gold production saw an increase from 226,913 ounces (7,058
kilograms) in the previous quarter to 228,270 ounces (7,100 kilograms) in the
September quarter.
Cash operating cost remain a concern in the current inflationary environment. On
an attributable basis cash operating unit cost increased by 9 per cent from US$
227 per ounce (R 76,170 per kilogram) to US$ 247 per ounce (R 82,878 per
kilogram), mainly due to the annual labour wage increase.
OPERATIONS
As a result of our opening-up programmes underground, tonnages at both Blyvoor
and Harties operations continued to increase but, as a result of lowering pay
limits, grades fell slightly. Crown had a satisfactory quarter with production
up ten per cent on the previous quarter. At Tolukuma the new access road to the
Kunda deposit is close to completion but underground development has
unfortunately been hampered by water problems.
Proposed capital spending for the new financial year is US$ 15 million (R 152
million). A special interdisciplinary project team has been established to
accelerate our organic growth programmes.
The company's ore reserves have been independently audited by RSG and, as at 30
June 2002, stood at 16.3 million ounces, calculated on a gold price of R 102,500
per kilogram.
FINANCIAL
Headline earnings for the quarter of US$ 7.8 million are 47 per cent higher than
the previous quarter, an increase in Rand terms of 92 percent to R 82.1 million.
Cash operating profit in Rand terms increased by sixteen per cent despite the
exclusion of CGR's operating profit since the company now accounts for DRD's
forty percent interest on an equity basis. On a pro-forma basis (June quarter
restated to reflect sixty percent sale of CGR), cash operating profit increased
by 23 per cent (41%) from US$ 9.1 million (R 83.5 million) in the previous
quarter to US$ 11.2 million (R 118.0 million) this quarter.
The gold price received improved significantly from US$ 284 per ounce (R 93,874
per kilogram) to US$ 315 per ounce (R 105,586 per kilogram) during the September
quarter, primarily as a result of all production being unhedged.
The Group recorded a profit of US$ 8.1 million (R 82.6 million) for the sixty
percent sale of CGR as an exceptional item. Durban Roodepoort Deep, Limited's
forty percent share in CGR's profits is reflected as "income from associate" in
the income statement.
OUTLOOK
Further initiatives have been undertaken to control costs, including a complaint
to the Competition Commission in relation to the steel supply monopoly in South
Africa. On the 10 October 2002, CGR completed the acquisition of the East Rand
Proprietary Mines Limited (ERPM) for a total consideration of R 90 million (US$
8.6 million), subject only to one condition subsequent. ERPM has a reserve of
46,212 kilograms (1.47 million ounces) of gold and an estimated mine life of ten
years. DRD will manage ERPM on behalf of CGR.
Durban Roodepoort Deep, Limited welcomes the clarity on the new Minerals Bill
and associated Empowerment Charter. Considering our recent transactions with
KBH, we are already well on our way to achieving these targets.
MARK WELLESLEY-WOOD
Chairman and Chief Executive Officer 24 October 2002
<Page>
KEY OPERATING AND FINANCIAL RESULTS
<Table>
<Caption>
US$/IMPERIAL QUARTER BLYVOOR NORTH WEST CROWN TOLUKUMA
UNDER- SURFACE UNDER- SURFACE OPEN-PIT (CGR) UNDER- OPEN-PIT
GROUND GROUND SURFACE GROUND
- ------------------------------------------ ----------------- ---------------------------- ------- -----------------
Ore milled - t'000 SEP 2002 234 470 728 1 211 231 3 101 37 1
Jun 2002 198 473 655 1 313 284 2 997 38 7
Gold produced - ounces SEP 2002 51,698 11,188 108,958 15,658 6,366 37,295 14,565 161
Jun 2002 47,004 12,892 105,229 21,670 3,472 33,823 16,172 2,123
Yield - ounces per ton SEP 2002 0.221 0.024 0.150 0.013 0.028 0.012 0.394 0.161
Jun 2002 0.237 0.027 0.161 0.017 0.012 0.011 0.426 0.303
Cash operating cost - US$/oz SEP 2002 223 198 268 207 208 210 278 317
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 221 156 244 192 177 210 242 260
Cash operating cost - US$/ton SEP 2002 49 5 40 3 6 3 110 51
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 52 4 39 3 2 2 103 79
Cash operating profit - US$ m SEP 2002 4.8 1.3 5.1 1.7 0.7 4.0 0.4 -
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 2.8 1.6 3.9 1.9 0.5 2.4 1.3 0.1
<Caption>
US$/IMPERIAL QUARTER TOTAL DIS-
DRD CONTINUED
* OPERATION #
- ------------------------------------------ ------ -----------
Ore milled - t'000 SEP 2002 4,152 735
Jun 2002 4,167 818
Gold produced - ounces SEP 2002 223,512 4 758
Jun 2002 222,091 4 822
Yield - ounces per ton SEP 2002 0.054 0.006
Jun 2002 0.053 0.006
Cash operating cost - US$/oz SEP 2002 247 348
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 227 359
Cash operating cost - US$/ton SEP 2002 18 2
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 16 2
Cash operating profit - US$ m SEP 2002 14.0 (0.1)
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 12.1 (0.3)
</Table>
<Table>
<Caption>
ZAR/METRIC QUARTER BLYVOOR NORTH WEST CROWN TOLUKUMA
UNDER- SURFACE UNDER- SURFACE OPEN-PIT (CGR) UNDER- OPEN-PIT
GROUND GROUND SURFACE GROUND
- ------------------------------------------ ----------------- ---------------------------- ------- -----------------
Ore milled - t'000 SEP 2002 213 426 661 1,099 209 2,813 34 1
Jun 2002 180 429 595 1,191 258 2,719 35 7
Gold produced - kg SEP 2002 1,608 348 3,389 487 198 1,160 453 5
Jun 2002 1,462 401 3,273 674 108 1,052 503 66
Yield - g/tonne SEP 2002 7.55 0.82 5.13 0.44 0.95 0.41 13.32 5.00
Jun 2002 8.12 0.93 5.50 0.57 0.42 0.39 14.37 9.43
Cash operating cost - R/kg SEP 2002 74,646 66,345 89,747 69,154 69,955 70,506 93,576 104,800
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 74,120 52,372 81,980 64,263 59,574 70,605 81,260 88,000
Cash operating cost - R/tonne SEP 2002 564 54 460 31 66 29 1,247 524
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 602 49 451 36 25 27 1,168 830
Cash operating profit - R m SEP 2002 50.0 13.7 54.5 17.9 7.1 41.3 4.0 -
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 27.3 16.2 35.3 19.2 3.5 23.3 13.5 1.3
<Caption>
ZAR/METRIC QUARTER TOTAL DIS-
DRD CONTINUED
* OPERATION #
- ------------------------------------------ ------ -----------
Ore milled - t'000 SEP 2002 3,768 667
Jun 2002 3,783 742
Gold produced - kg SEP 2002 6,952 148
Jun 2002 6,908 150
Yield - g/tonne SEP 2002 1.85 0.22
Jun 2002 1.83 0.20
Cash operating cost - R/kg SEP 2002 82,878 116,878
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 76,170 120,440
Cash operating cost - R/tonne SEP 2002 203 26
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 183 24
Cash operating profit - R m SEP 2002 147.2 (1.5)
(EXCLUDING ESKOM LINK TARIFF) Jun 2002 116.3 (4.2)
</Table>
* Includes only 40% of Crown (CGR) production attributable to Durban
Roodepoort Deep, Limited. (The Jun 2002 quarter has been restated for
comparisons purposes).
# During the quarter the West Wits operation was discontinued.
<Table>
<Caption>
CAPITAL EXPENDITURE QUARTER BLYVOOR NORTH WEST CROWN (CGR) TOLUKUMA TOTAL DRD (EXCL. CGR)
US$ m R m US$ m R m US$ m R m US$ m R m US$ m R m
- ----------------------------------- --------------- -------------- -------------- -------------- ---------------------
Net Outflow SEP 2002 0.8 8.0 2.4 24.7 0.8 8.4 0.3 2.9 3.5 35.6
Jun 2002 0.6 5.7 1.0 10.2 0.5 5.5 0.5 4.9 2.1 20.8
Forecast Dec 2002 1.0 10.2 0.9 9.8 1.2 12.2 0.9 9.6 2.8 29.6
</Table>
<Page>
Incorporating the results of all Durban Roodepoort Deep, Limited subsidiaries,
including Blyvooruitzicht Gold Mining Company Limited, Buffelsfontein Gold Mines
Limited, West Witwatersrand Gold Holdings Limited, Crown Consolidated Gold
Recoveries Limited which has a forty per cent interest in Crown Gold Recoveries
(Pty) Limited (CGR), Hartebeestfontein Gold Mine a division of Buffelsfontein
Gold Mines Limited, DRD Australasia and Dome Resources NL
GROUP INCOME STATEMENTS
<Table>
<Caption>
FINANCIAL RESULTS (US$ M) (US$ m)
----------- --------------------------
(Unaudited) QUARTER Quarter Quarter
SEP 2002 Jun 2002 Jun 2002
Pro-forma *
----------- ----------- -----------
Gold revenue 67.2 60.8 70.3
Cash operating costs (53.3) (49.0) (56.1)
Eskom linked electricity tariff (2.7) (2.7) (3.2)
----------- ----------- -----------
CASH OPERATING PROFIT 11.2 9.1 11.0
Other expenses - net (1.0) (2.4) (2.7)
Business development (0.1) (0.2) (0.2)
Care and maintenance costs (0.2) (0.2) (0.2)
----------- ----------- -----------
CASH PROFIT FROM OPERATIONS 9.9 6.3 7.9
Retrenchment costs - - -
Investment income 1.1 0.5 0.5
Income from associate 0.8 0.3 -
Interest paid (0.1) - (0.3)
----------- ----------- -----------
NET CASH OPERATING PROFIT 11.7 7.1 8.1
Non-cash items (1.8) (0.1) (0.7)
Rehabilitation (0.2) 0.6 0.7
Depreciation (1.8) (1.2) (1.7)
Gain on financial instruments 0.1 - -
Gold in process 0.1 0.5 0.3
PROFIT BEFORE TAXATION 9.9 7.0 7.4
Taxation (0.5) (0.1) (0.1)
Deferred taxation (1.6) (2.0) (2.0)
----------- ----------- -----------
PROFIT AFTER TAXATION 7.8 4.9 5.3
Exceptional items 7.9 (58.6) (58.7)
----------- ----------- -----------
NET PROFIT/(LOSS) 15.7 (53.7) (53.4)
----------- ----------- -----------
HEADLINE EARNINGS PER SHARE - CENTS 4.3 2.7 3.1
Basic earnings/(loss) per share - cents 8.6 (31.4) (31.3)
CALCULATED ON THE WEIGHTED AVERAGE ORDINARY SHARES ISSUED OF : 182,236,525 170,866,680 170,866,680
<Caption>
FINANCIAL RESULTS (R M) (R m)
----------- --------------------------
(Unaudited) QUARTER Quarter Quarter
SEP 2002 Jun 2002 Jun 2002
Pro-forma *
----------- ----------- -----------
Gold revenue 700.7 624.2 721.8
Cash operating costs (555.0) (512.1) (586.4)
Eskom linked electricity tariff (27.7) (28.6) (33.5)
----------- ----------- -----------
CASH OPERATING PROFIT 118.0 83.5 101.9
Other expenses - net (10.1) (28.8) (32.4)
Business development (1.2) (1.0) (1.0)
Care and maintenance costs (1.9) (1.5) (1.5)
----------- ----------- -----------
CASH PROFIT FROM OPERATIONS 104.8 52.2 67.0
Retrenchment costs (0.3) (0.5) (0.5)
Investment income 12.6 7.1 7.1
Income from associate 8.0 3.4 -
Interest paid (1.5) (2.9) (3.0)
----------- ----------- -----------
NET CASH OPERATING PROFIT 123.6 59.3 70.6
Non-cash items (19.1) (2.3) (8.7)
Rehabilitation (2.5) 5.3 6.4
Depreciation (18.4) (12.8) (18.5)
Gain on financial instruments 1.1 0.8 0.8
Gold in process 0.7 4.4 2.6
PROFIT BEFORE TAXATION 104.5 57.0 61.9
Taxation (5.2) (0.2) (0.3)
Deferred taxation (17.2) (18.8) (18.8)
----------- ----------- -----------
PROFIT AFTER TAXATION 82.1 38.0 42.8
Exceptional items 79.8 (591.7) (593.0)
----------- ----------- -----------
NET PROFIT/(LOSS) 161.9 (553.7) (550.2)
----------- ----------- -----------
HEADLINE EARNINGS PER SHARE - CENTS 45.1 22.2 25.0
Basic earnings/(loss) per share - cents 88.8 (324.1) (322.0)
CALCULATED ON THE WEIGHTED AVERAGE ORDINARY SHARES ISSUED OF : 182,236,525 170,866,680 170,866,680
</Table>
(* QUARTER JUN 2002 RESTATED TO REFLECT 60% SALE OF CGR FOR COMPARISON
PURPOSES ONLY)
GROUP BALANCE SHEETS
<Table>
<Caption>
(US$ M) (R M)
ABRIDGED QUARTER Quarter QUARTER Quarter
(Unaudited) SEP 2002 Jun 2002 SEP 2002 Jun 2002
---------- ---------- ----------- -----------
ASSETS
NON-CURRENT ASSETS 104.5 111.3 1 103.4 1 154.5
---------- ---------- ----------- -----------
Mining assets - net 62.1 74.4 656.2 771.9
Investments 9.3 1.8 97.7 18.4
Environmental Trust funds 12.1 12.1 127.7 125.9
Deferred mining and income taxes 21.0 23.0 221.8 238.3
---------- ---------- ----------- -----------
CURRENT ASSETS 40.4 44.4 426.3 460.6
---------- ---------- ----------- -----------
Inventories 7.4 8.4 78.6 86.7
Trade and other receivables 8.4 12.2 88.4 126.6
Cash and equivalents 24.6 23.8 259.3 247.3
---------- ---------- ----------- -----------
TOTAL ASSETS 144.9 155.7 1,529.7 1,615.1
---------- ---------- ----------- -----------
EQUITY AND LIABILITIES
Shareholders' equity 63.9 42.1 674.6 438.0
---------- ---------- ----------- -----------
NON-CURRENT LIABILITIES 46.5 59.0 491.2 611.1
---------- ---------- ----------- -----------
Borrowings 14.3 24.0 151.5 248.4
Rehabilitation 16.6 18.6 174.8 193.4
Deferred mining and income taxes 6.7 6.8 70.6 70.0
Provisions 8.9 9.6 94.3 99.3
---------- ---------- ----------- -----------
CURRENT LIABILITIES 34.5 54.6 363.9 566.0
---------- ---------- ----------- -----------
Trade and other payables 25.5 38.2 269.3 396.4
Current portion of borrowings 8.1 16.0 85.5 165.6
Taxation 0.9 0.4 9.1 4.0
---------- ---------- ----------- -----------
TOTAL EQUITY AND LIABILITIES 144.9 155.7 1,529.7 1,615.1
---------- ---------- ----------- -----------
</Table>
EXCEPTIONAL ITEMS
<Table>
<Caption>
(US$ M) (R M)
-------- --------
QUARTER QUARTER
SEP 2002 SEP 2002
-------- --------
Profit on sale of investment * 8.1 82.6
Impairment of assets (0.2) (2.8)
-------- --------
7.9 79.8
-------- --------
</Table>
* On 1 July 2002 Durban Roodepoort Deep Limited sold 60% of its holding in CGR
in a black empowerment joint venture to Khumo Bathong Holdings (Pty) Ltd and
realised a profit of US$ 8.1 million (R 82.6 million).
CHANGES IN SHAREHOLDER'S INTEREST
<Table>
<Caption>
(US$ M) (R M)
-------- --------
QUARTER QUARTER
SEP 2002 SEP 2002
-------- --------
Shareholders' interest at the
beginning of the period 42.1 438.0
Share capital issued 7.4 74.7
- for cash 6.7 68.0
- for share options exercised 0.7 7.2
- for share issue expenses - (0.5)
Movement in retained income 14.4 161.9
- profit attributable to shareholders 7.8 82.1
- currency adjustments and other (1.3) -
- exceptional items 7.9 79.8
Shareholders' interest at the end of period 63.9 674.6
-------- --------
</Table>
<Page>
GROUP CASH FLOW STATEMENTS
<Table>
<Caption>
(US$ M) (R M)
-------- --------
ABRIDGED QUARTER QUARTER
(Unaudited) SEP 2002 SEP 2002
-------- --------
Cash inflow from operating activities 15.8 165.1
Cash outflow from investing activities (4.1) (42.3)
Cash outflow from financing activities (8.8) (91.3)
Translation adjustments (0.5) (2.6)
-------- --------
Increase in cash and cash equivalents 2.4 28.9
-------- --------
Opening cash and cash equivalents * 22.2 230.4
-------- --------
Closing cash and cash equivalents 24.6 259.3
-------- --------
</Table>
(* OPENING BALANCE RESTATED TO EXCLUDE CASH AND CASH EQUIVALENTS ATTRIBUTABLE TO
CGR)
CONVERSION FACTORS
CURRENCY
Balance Sheet: 30-Sep-02 US$ 1 = R 10.5600
Income Statement: Jul-02 US$ 1 = R 10.1083
Aug-02 US$ 1 = R 10.5734
Sep-02 US$ 1 = R 10.5995
UNIT OF MEASUREMENT
METRIC IMPERIAL
1 metric tonne 1.10229 short tonnes
1 kilogram 32.1507 ounces
STOCK DATA
<Table>
<Caption>
ISSUED CAPITAL JSE FRANKFURT NASDAQ
------- --------- ---------
Average volume for the quarter per day (000) 293 128 3,223
182,957,397 ordinary no par value shares % of issued stock traded (annualised) 42% 18% 458%
5,000,000 cumulative preference shares Price - High R 49.20 EURO 4.69 USD 4.56
- Low R 22.00 EURO 2.52 USD 2.31
- Close R 46.01 EURO 4.43 USD 4.16
------- --------- ---------
</Table>
EXPLORATION
At the Tolukuma mine, drilling at Saki produced 1 032 meters of core in 14 holes
during the quarter. The best intersections for the period was in DDH SK14 with
Saki 1 and Saki 2 veins intersected and results of 6.6 grams per ton over one
meter and 5.5 grams per ton over 3.25 meter true width respectively. In the near
mine area, drill pads are being prepared for a short program on the Taula Vein
at Seri Seri, four kilometers south of the Tolukuma mine in EL580.
A new road is being extended south from the Gulbadi pit into the Illive Valley
for the drilling of deep holes into the Milaihamba structure. Some 24 kilometers
of line has been cleared for surveyors to mark out the boundaries of a new
extended mining lease.
In the regional programs aimed at longer-term targets, reconnaissance work was
carried out in EL1297 at the Awara and Gira prospects and both have confirmed
the work of earlier exploration companies with delineation of anomalous gold and
gold base metals mineralisation. The planned airborne geophysical survey
covering EL's 1297, 1286, 1264 and 1284 will commence early in the new quarter.
The Daylesford EL3431 license was renewed on 27 July 2002 for a period of one
year expiring on 15 May 2003.
The Argonaut project represents DRD's southern down-dip extension of the Central
Rand goldfield. The total surface area is covering 250 square kilometers with
the Main Reef and Main Reef Leader extending from 3 000 meters to at least 5,000
meters below surface. The resource contains an estimated 111 million ounces of
gold. Management believes that the project will be viable at current Rand gold
prices and thus represents a major opportunity for DRD shareholders. In the
current financial year, US$ 8.2 million (R 86 million) has been identified for
project work, of which US$ 2.4 million (R 25 million) is required for the
acquisition of surface rights for future shafts and slime deposition sites.
Nick Goodwin has been appointed Project Manager for the Argonaut Project.
SHARE OPTION SCHEME
The following summary provides information in respect of the Durban Roodepoort
Deep (1996) Share Option Scheme as at 30 September 2002 :
<Table>
Number of options granted : 5,157,688
Number of options currently exercisable : 1,185,945
</Table>
ACCOUNTING POLICIES
The financial statements are prepared on the historical cost basis and in
accordance with South African Statements of Generally Accepted Accounting
Practice. The accounting policies are, in all material respects, consistent with
the annual financial statements for the year ended 30 June 2002.
INVESTOR RELATIONS
For further information, contact
Maryna Eloff at : Tel: (+27-11) 381-7800, Fax: (+27-11) 482-4641,
e-mail: eloffm@drd.co.za,
web site: http://www.durbans.com
45 Empire Road, Parktown, South Africa,
PO Box 390, Maraisburg 1700, South Africa.
ADDRESS DETAILS
REGISTERED OFFICE :
45 Empire Road, Parktown, South Africa,
PO Box 390,
Maraisburg 1700, South Africa
SHARE TRANSFER SECRETARIES :
Ultra Registrars (Pty) Ltd,
PO Box 4844,
Johannesburg 2000, South Africa
UNITED KINGDOM REGISTRARS :
St. James' Corporate Services Ltd,
6 St. James' Place,
London SW IA INP
DEPOSITORY BANK :
American Depository Receipts,
The Bank of New York,
Shareholders Relations Department,
101 Barclay Street, New York, NY 10296
Directors : MM Wellesley-Wood (Chairman and Chief Executive Officer)* ; IL
Murray (Chief Financial Officer) ; FH Coetzee (Chief Operations Officer);
MP Ncholo ; N Goodwin ; RP Hume ; GC Campbell*; DC Baker**
MA Eloff (Group Company Secretary) (*British) (**Australian)