<Page>
DURBAN ROODEPOORT DEEP, LIMITED
[GRAPHIC] (Incorporated in the Republic of South Africa) [GRAPHIC]
Registration No.1895/000926/06
ARBN 086 277616
JSE trading symbol: DUR
ISIN Code: ZAE 000015079
Issuer code: DUSM
NASDAQ trading symbol: DROOY
REPORT TO SHAREHOLDERS FOR THE 1ST QUARTER ENDED 30 SEPTEMBER 2003
OF THE 2004 FINANCIAL YEAR
GROUP RESULTS
HIGHLIGHTS
Safety record continues to improve
North West Operations restructuring completed
ERPM moves into operating profit
Tolukuma resource expansion
Acquisition of 20% of Porgera Joint Venture
<Table>
<Caption>
QUARTER QUARTER
SEP 2003 JUN 2003
-------- --------
Gold production (attributable) oz 198 493 207 725
kg 6 174 6 461
Cash operating costs US$/oz 378 352
R/kg 90 520 87 368
Gold price received US$/oz 362 348
R/kg 86 625 86 348
Capital expenditure US$ m 4.7 3.3
R m 35.0 24.9
STOCK
<Caption>
ISSUED CAPITAL STOCK TRADED JSE NASDAQ FRANKFURT
--- ------ ---------
211 402 045 ordinary no par value shares Ave. volume for the quarter per day (000) 123 4 165 165
5 000 000 cumulative preference shares % of issued stock traded (annualised) 15% 514% 20%
Price - High R 26.50 USD 3.54 Euro 2.95
- Low R 16.51 USD 2.20 Euro 2.04
- Close R 20.71 USD 2.86 Euro 2.53
ADDRESS DETAILS
<Caption>
REGISTERED OFFICE : SHARE TRANSFER SECRETARIES : UNITED KINGDOM REGISTRARS : DEPOSITORY BANK :
45 Empire Road, Parktown, Ultra Registrars (Pty) Ltd, St. James' Corporate Services Ltd, American Depository Receipts,
South Africa PO Box 4844, 6 St. James' Place, The Bank of New York,
PO Box 390, Johannesburg 2000, London Shareholders Relations Department,
Maraisburg 1700, South Africa SW IA INP 101 Barclay Street,
South Africa New York, NY 10296
</Table>
FORWARD LOOKING STATEMENTS
Some of the information in this voluntary announcement, contain projections or
other forward looking statements regarding future events or other future
performance. We wish to caution you that these statements are only projections
and those actual events or results may differ materially due to such risks as
difficulties in being a marginal producer of gold, changes and reliability of
ore reserve estimates, gold price volatility, currency fluctuations and mining
risks. 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.
<Page>
LETTER TO SHAREHOLDERS
DEAR SHAREHOLDER
OVERALL PERFORMANCE
The gold price received was substantially unchanged quarter on quarter, with the
rise in the dollar price offset by a stronger Rand. Gold production increased at
most operations, except for the North West Operations where a 14% reduction from
underground feed resulted from the 60-day review process and restructuring
exercise. This exercise has now been completed and some 3 000 employees have
been retrenched at a cost of R39.5 million (US$ 5.4 million). Cash operating
unit costs increased by 3.6% in Rand terms due to the annual wage increase which
was effective from 1 July 2003. A two-year agreement has been signed with all
unions and associations. The average increase for the current year will be 9.2%.
OVERALL PERFORMANCE
Our principal focus has been on turning around the North West Operations. This
has been achieved without resort to industrial action and the co-operation of
all parties in the review process has been much appreciated. The result has been
a reduction in wage costs to 44% of the total working costs, and a reduction of
26% in monthly working costs, from R 106 million (US$ 14 million) in July 2003
to R 78 million (US$ 11 million) in October 2003. The new production profile
will be 5% lower. Development and opening up of ore reserves have not been
compromised in the process and the mine's life remains at 15 years as a result.
DRD has a 40% stake in the Crown Gold Recoveries joint venture with Khumo
Bathong Holdings and manages the ERPM mine and Crown surface retreatment
operations on behalf of the joint venture. ERPM's gold production build up
continued with a 34% increase on the previous quarter and the mine reported its
first cash operating profit since its acquisition a year ago. Potential for
open-pit mining is being examined.
Blyvoor recovered some of the lost ground from the previous quarter. Progress on
the No 4 and 5 slimes dam project is on track. The budgeted cost of the project
is R 45 million (US$ 6 million) and will come into production in January 2004 at
a rate of 240 000 tonnes per month. Some 27.2 million tonnes of slime are
available at an average delivered grade of 0.568 grams per tonne. Underground
feed is still being restricted by ore pass constraints, and around 1A sub shaft,
approximately 10 000 tonnes of broken rock is still in circuit. A mid-shaft
loading arrangement is being installed in the shaft to relieve the constraint
and will be operational in December 2003.
At Tolukuma, production was stable, but logistics costs impacted negatively on
costs. Mining of the newly discovered Zine Vein on surface is continuing and
exploration for the underground extention is showing encouraging results. Zine
accounted for an additional 2 000 ounces of the gold this quarter.
FINANCIAL
The cash operating loss of R 21 million (US$ 2.7 million) is due to the loss of
R 41.8 million (US$ 5.6 million) incurred at the North West Operations. All
other operations recorded cash operating profits. The purpose of the North West
Operations restructure is to return the mine to profit and to restore a
meaningful margin to shareholders.
Cash and cash equivalents increased to R 612 million (US$ 86 million) from R 332
million (US$ 44 million), mainly as a result of the capital raising completed
during the quarter. New shares were issued to Investec Bank on 9 September 2003
(18 million shares) and on 12 September 2003 (9 million shares), at an average
price of R 17.86 (US$ 2.40) and R 17.94 (US$ 2.42) respectively, raising a total
of R 483 million (US$ 64 million). The proceeds from the placements are to be
used for the North West Operations restructuring costs and to substantially fund
the purchase price for the 20% stake in the Porgera Joint Venture (see
Acquisition, below), as well as for general working capital requirements.
In addition, during the quarter, cash resources were used to reduce debt by R
118 million (US$ 16 million). As a result of the above activities, the current
ratio has increased to 1.85 (1.09), while shareholders' equity has more than
doubled to R 798 million (US$ 111 million) from R 359 million (US$ 48 million).
Our interest-bearing debt : equity ratio improved to 66% (173%), while our
interest-bearing debt : market capitalization improved to 11% (15%).
ACQUISITION
On 14 October 2003 we announced that an agreement had been reached to acquire
Oil Search Limited's interest in the Porgera Joint Venture in Papua New Guinea
at a cost of US$ 73.8 million. We refer you to the detailed announcement issued
on 14 October 2003 regarding the acquisition. On completion, this will increase
DRD's attributable annual gold production from the Australasian region from
90 000 ounces to 260 000 ounces.
MANAGEMENT
We are pleased to announce the appointment of Andrea Townsend as Group Company
Secretary and Wayne Koonin as Divisional Director Group Finance.
COMPLIANCE
I am pleased to report on a continued improvement in our safety performance. The
lost time injury rate has improved by 10% to 8.63, with the reportable frequency
rate improving by 5% to 3.65 and the fatality injury frequency rate at 0.24, an
improvement of 44%.
In September 2003, the Department of Environment and Conservation and the
Provincial Health Department in Papua New Guinea reported on its water quality
and health investigations at DRD's operations in that country. It was found that
all test results were within compliance limits and that there was no connection
between regional health issues and the operation of the mine. We will continue
to monitor our environment and the roll-out of our local community programmes in
the area.
OUTLOOK
Prospects for the immediate future will depend on the Rand/Dollar exchange rate.
We have closed high-cost capacity at the North West Operations and seeking to
add lower cost production to the portfolio in Papua New Guinea. We continue to
diversify our asset base, and it is expected that a greater proportion of our
earnings and cash flow will be derived from outside South Africa from the next
quarter.
In spite of the cost of restructuring our North West Operations and the job
losses that unfortunately resulted from this, DRD has nevertheless made a
valuable contribution both to the South African economy and the gold market as a
whole. During the last three years we have created more than 6000 jobs on our
South African operations, while our localization programmes in Papua New Guinea
have taken the representation of nationals in the Tolukuma workforce to more
than 95%. While we are still one of the most marginal gold producers in the
industry at the current exchange rate, the recent acquisition of the stake in
the Porgera Joint Venture will provide a sustainable cash flow to support our
value creative strategy. We are confident that the gold price trend will
continue upward, at which point our gearing to gold will become evident.
MARK WELLESLEY-WOOD
Chairman and Chief Executive Officer 23 October 2003
<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, HARTEBEESTFONTEIN GOLD MINE (A DIVISION OF BUFFELSFONTEIN
GOLD MINES LIMITED),
DRD AUSTRALASIA AND DOME RESOURCES NL ON A CONSOLIDATED BASIS.
THE RESULTS OF CROWN GOLD RECOVERIES (PTY) LTD WHICH INCLUDE THE EAST
RAND PROPRIETARY MINES LIMITED ARE ACCOUNTED FOR ON THE EQUITY BASIS.
THE FINANCIAL STATEMENTS BELOW ARE PREPARED IN ACCORDANCE TO
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF
AMERICA (US GAAP). THE ACCOUNTING POLICIES ARE, IN ALL MATERIAL
RESPECTS, CONSISTENT WITH THE ANNUAL FINANCIAL STATEMENTS FOR THE
YEAR ENDED 30 JUNE 2003.
FINANCIAL PERFORMANCE
<Table>
<Caption>
QUARTER QUARTER QUARTER QUARTER
JUN 2003 SEP 2003 SEP 2003 JUN 2003
352 378 $/oz Cash costs R/kg 90 520 87 368
(0.9) (2.7) $ million Cash operating loss R million (21.0) (7.6)
1.1 (9.5) $ million Net (loss)/profit R million (70.1) 12.7
32.7 35.1 $ million Deferred financial liability (Eskom) R million 250.8 244.4
16.5 9.5 $ million Interest-bearing debt R million 67.8 123.0
66.7 63.9 $ million Convertible bond R million 457.1 498.8
6.4 48.7 $ million Net current assets R million 348.8 48.7
242.5 297.5 $ million Total assets R million 2 128.4 1 811.7
464.2 604.6 $ million Market capitalization R million 4 378.1 3 555.5
</Table>
GROUP INCOME STATEMENTS - US GAAP
The US GAAP financial information has been restated to reflect the immediate
expense on acquisition of the Argonaut mineral rights during the year ended
June 30, 1998.
<Table>
<Caption>
(US$ M) FINANCIAL RESULTS (R M)
QUARTER QUARTER (UNAUDITED) QUARTER QUARTER
JUN 2003 JUN 2003
RESTATED SEP 2003 SEP 2003 RESTATED
REVENUES
64.4 62.8 Product sales (Gold revenue) 467.5 497.7
(67.6) (68.4) COST AND EXPENSES (509.1) (518.0)
(66.4) (66.8) Production costs (497.5) (509.1)
(0.5) (1.2) Movement in gold in process (8.9) (3.4)
(0.7) (0.4) Movement in rehabilitation provision (2.7) (5.5)
OTHER OPERATING EXPENSES
(4.7) (3.3) Depreciation and amortization (24.7) (36.4)
(12.5) 0.1 Impairment of assets 0.7 (98.2)
(1.5) (5.4) Employment termination costs (39.5) (11.6)
(0.7) (0.5) Management and consulting fees (3.4) (5.7)
10.4 (3.6) (Loss)/profit on financial instruments (27.1) 84.8
2.7 - Profit on sale of investments - 17.8
(2.3) (3.1) ADMINISTRATION AND GENERAL CHARGES (22.9) (17.5)
(1.2) (0.5) Stock based compensation costs (3.6) (10.0)
(1.1) (2.6) Administration and general charges (19.3) (7.5)
(11.8) (21.4) NET OPERATING LOSS (158.5) (87.1)
2.4 1.6 Investment income 11.7 18.8
1.1 0.8 Other income 6.2 8.5
FINANCE COST
(2.6) (1.8) Interest expense (13.6) (20.7)
- -------- -------- -------- --------
(10.9) (20.8) LOSS BEFORE TAXATION (154.2) (80.5)
(3.6) - Loss from associate - (27.8)
0.1 - Income and mining tax benefit - 0.9
15.5 11.3 Deferred taxation benefit 84.1 120.1
- -------- -------- -------- --------
1.1 (9.5) NET (LOSS)/PROFIT APPLICABLE TO SHAREHOLDERS (70.1) 12.7
- -------- -------- -------- --------
0.2 (5.0) Basic (loss)/earnings per share (cents) (36.8) 6.9
0.2 (5.0) Diluted (loss)/earnings per share (cents) (36.8) 6.8
CONVERSION FACTORS US/SA GAAP RECONCILIATION
Balance Sheet : 30 Sep 03 US$1 = R 7.1538 (R M)
Income Statement average for : QUARTER QUARTER
Jul-03 US$1 = R 7.5654 Reconciliation of net (loss)/profit to SA GAAP JUN 2003
Aug-03 US$1 = R 7.4048 SEP 2003 RESTATED
Sep-03 US$1 = R 7.3472
Sep-03 quarter US$1 = R 7.4402 Net (loss)/profit determined under US GAAP (70.1) 12.7
Adjusted for:
SHARE OPTION SCHEME Financial instruments (3.2) (30.3)
Depreciation of mineral rights (2.8) (2.8)
The following summary
provides information in Accounting for business combinations 0.4 0.4
respect of the Durban
Roodepoort Deep (1996) Stock based compensation costs 3.6 10.0
Share Option Scheme as
at 30 September 2003: Fair value adjustment on investments 26.4 1.4
Deferred taxation on adjustments (0.1) (3.2)
-------- --------
Number of options in issue : 6 027 733 Effect of US GAAP adjustments 24.3 (24.5)
-------- --------
Number of options currently vested : 1 578 883 Net loss determined under SA GAAP (45.8) (11.8)
-------- --------
</Table>
<Page>
THE FINANCIAL STATEMENTS BELOW ARE PREPARED IN ACCORDANCE TO GENERALLY ACCEPTED
ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA (US GAAP). THE ACCOUNTING
POLICIES ARE, IN ALL MATERIAL RESPECTS, CONSISTENT WITH THE ANNUAL FINANCIAL
STATEMENTS FOR THE YEAR ENDED 30 JUNE 2003.
GROUP BALANCE SHEETS - US GAAP
<Table>
<Caption>
(US$ M) ABRIDGED (R M)
QUARTER QUARTER (UNAUDITED) QUARTER QUARTER
JUN 2003 JUN 2003
RESTATED SEP 2003 SEP 2003 RESTATED
ASSETS
75.4 105.8 CURRENT ASSETS 756.9 563.8
44.4 85.5 Cash and equivalents 611.6 331.8
23.1 13.5 Receivables 96.8 172.9
7.9 6.8 Inventories 48.5 59.1
76.9 81.6 MINING ASSETS 583.5 573.9
219.8 234.4 Cost 1 676.6 1 641.6
(142.9) (152.8) Accumulated depreciation & amortization (1 093.1) (1 067.7)
90.2 110.1 OTHER ASSETS 788.0 674.0
55.4 69.6 Deferred income and mining taxes 498.0 413.9
34.8 40.5 Non-current assets 290.0 260.1
-------- -------- -------- --------
242.5 297.5 TOTAL ASSETS 2 128.4 1 811.7
-------- -------- -------- --------
LIABILITIES & STOCKHOLDERS' EQUITY
69.0 57.1 CURRENT LIABILITIES 408.1 515.1
3.9 0.4 Bank overdraft 2.6 29.1
50.0 51.1 Accounts payable and accrued liabilities 365.5 373.2
15.1 5.6 Short term portion of long term loans 40.0 112.8
5.7 5.6 LONG TERM LOANS 39.8 42.5
62.4 62.2 CONVERTIBLE LOAN NOTE 445.1 466.5
32.7 35.1 DEFERRED FINANCIAL LIABILITY 250.8 244.4
24.6 26.1 PROVISION-ENVIRONMENTAL REHABILITATION 186.5 184.0
48.1 111.4 SHAREHOLDERS' EQUITY 798.1 359.2
AUTHORISED
300 000 000 ordinary no par value shares
5 000 000 cumulative preference shares
ISSUED
211 402 045 ordinary no par value shares
5 000 000 cumulative preference shares
360.3 424.3 Stated capital 2 684.5 2 200.9
37.7 38.2 Additional paid in capital 90.3 86.7
0.1 0.1 Cumulative preference shares 0.5 0.5
(305.0) (314.5) Accumulated loss (2 001.6) (1 931.5)
(45.0) (36.7) Other comprehensive income 24.4 2.6
-------- -------- -------- --------
242.5 297.5 TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 2 128.4 1 811.7
-------- -------- -------- --------
CHANGES IN SHAREHOLDERS' EQUITY - US GAAP
<Caption>
(US$ M) (UNAUDITED) (R M)
QUARTER QUARTER QUARTER QUARTER
JUN 2003 JUN 2003
RESTATED SEP 2003 SEP 2003 RESTATED
48.9 48.1 Shareholders' equity at the beginning of the period 359.2 392.2
(4.5) - Prior period adjustment (Argonaut mineral rights) - (36.1)
-------- -------- -------- --------
44.4 48.1 Shareholders' equity at the beginning of the period 359.2 356.1
as restated
1.4 64.5 Share capital issued 487.2 11.4
- 63.8 - for cash 482.9 -
0.2 0.2 - for share options exercised 0.7 1.4
1.2 0.5 - for stock based compensation 3.6 10.0
2.3 (1.2) Movement in retained income (48.3) (8.3)
1.1 (9.5) - (loss)/profit applicable to shareholders (70.1) 12.7
0.1 3.6 - mark-to-market on investments 26.4 1.4
1.1 4.7 - currency adjustments and other (4.6) (22.4)
48.1 111.4 Shareholders' equity at the end of the period 798.1 359.2
-------- -------- -------- --------
GROUP CASH FLOW STATEMENTS
<Caption>
(US$ M) ABRIDGED (R M)
QUARTER QUARTER (UNAUDITED) QUARTER QUARTER
JUN 2003 SEP 2003 SEP 2003 JUN 2003
(14.6) (6.4) Net cash out flow from operating activities (47.9) (112.8)
0.4 1.4 Net cash in flow from investing activities 10.5 3.3
(13.4) 44.0 Net cash in/(out) flow from financing activities 327.2 (103.9)
-------- -------- -------- --------
(27.6) 39.0 Net increase/(decrease) in cash & equivalents 289.8 (213.4)
8.9 2.1 Translation adjustment (10.0) 39.6
63.1 44.4 Cash and equivalents at beginning of period 331.8 505.6
-------- -------- -------- --------
44.4 85.5 Cash and equivalents at end of period 611.6 331.8
-------- -------- -------- --------
</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, HARTEBEESTFONTEIN GOLD MINE (A DIVISION OF BUFFELSFONTEIN
GOLD MINES LIMITED),
DRD AUSTRALASIA AND DOME RESOURCES NL ON A CONSOLIDATED BASIS.
THE RESULTS OF CROWN GOLD RECOVERIES (PTY) LTD WHICH INCLUDE THE
EAST RAND PROPRIETARY MINES LIMITED ARE ACCOUNTED FOR ON THE
EQUITY BASIS.
THE FINANCIAL STATEMENTS BELOW ARE PREPARED ON THE HISTORICAL COST
BASIS AND IN ACCORDANCE WITH SOUTH AFRICAN STATEMENTS OF GENERALLY
ACCEPTED ACCOUNTING PRACTICE (SA GAAP). THE ACCOUNTING POLICIES ARE,
IN ALL MATERIAL RESPECTS, CONSISTENT WITH THE ANNUAL FINANCIAL
STATEMENTS FOR THE YEAR ENDED 30 JUNE 2003.
GROUP INCOME STATEMENTS - SA GAAP
<Table>
<Caption>
FINANCIAL RESULTS (R M)
(UNAUDITED) QUARTER QUARTER
SEP 2003 JUN 2003
Gold revenue 467.5 497.7
Cash operating costs (488.5) (505.3)
----------- -----------
CASH OPERATING LOSS (21.0) (7.6)
Other expenses - net (20.9) (17.4)
Business development (1.5) (4.2)
Care and maintenance costs (2.5) (3.3)
----------- -----------
CASH LOSS FROM OPERATIONS (45.9) (32.5)
Retrenchment costs (39.5) (11.6)
Investment income 11.7 16.2
Interest paid (13.6) (15.6)
----------- -----------
NET CASH OPERATING LOSS (87.3) (43.5)
Rehabilitation (2.7) (5.2)
Depreciation (27.0) (43.5)
(Loss)/gain on financial instruments (4.6) 54.7
Gold in process (8.9) (7.7)
----------- -----------
LOSS BEFORE TAXATION (130.5) (45.2)
Loss from associate - (30.6)
Taxation - (0.2)
Deferred taxation charge 84.0 175.7
----------- -----------
(LOSS)/PROFIT AFTER TAXATION (46.5) 99.7
Exceptional items 0.7 (111.5)
----------- -----------
NET LOSS (45.8) (11.8)
----------- -----------
HEADLINE (LOSS)/EARNINGS PER SHARE-CENTS (24.4) 54.2
BASIC LOSS PER SHARE-CENTS (24.1) (6.4)
Calculated on the Weighted Average Ordinary Shares Issued of : 90 437 051 184 091 468
DILUTED HEADLINE (LOSS)/EARNINGS PER SHARE-CENTS (24.4) 53.9
DILUTED BASIC LOSS PER SHARE-CENTS (24.1) (6.4)
CHANGES IN SHAREHOLDERS' INTEREST - SA GAAP
<Caption>
(UNAUDITED) (R M)
QUARTER QUARTER
SEP 2003 JUN 2003
Shareholders' interest at the
beginning of the period 456.1 493.5
Share capital issued 483.4 6.8
- - for cash 482.9 -
- - for share options exercised 0.7 1.4
- - for equity portion of convertible note (0.2) 5.4
Movement in retained income (45.8) (11.8)
Currency adjustments and other (2.5) (32.4)
----------- -----------
Shareholders' interest at the end of the period 891.2 456.1
----------- -----------
</Table>
INVESTOR RELATIONS
For further information, contact Ilja Graulich at :
Tel: (+27-11) 381-7800, Fax: (+27-11) 482-4641,
e-mail: graulich@drd.co.za,
web site: http://www.durbans.com
45 Empire Road,
Parktown, South Africa.
P O Box 390,
Maraisburg 1700,
South Africa.
GROUP BALANCE SHEETS - SA GAAP
<Table>
<Caption>
ABRIDGED (R M)
(UNAUDITED) QUARTER QUARTER
SEP 2003 JUN 2003
EMPLOYMENT OF CAPITAL
Net mining assets 585.8 578.5
Investments 154.2 126.4
Environmental Trust funds 135.7 133.7
Deferred mining and income taxes 498.3 414.3
Current assets 756.9 563.8
Inventories 48.5 59.1
Trade and other receivables 96.8 172.9
Cash and equivalents 611.6 331.8
----------- -----------
2 130.9 1 816.7
----------- -----------
CAPITAL EMPLOYED
Shareholders' equity 891.2 456.1
Borrowings 394.2 387.5
Deferred financial liability 250.8 244.4
Rehabilitation 186.5 184.0
Other non-current liabilities 74.0 73.2
Current liabilities 334.2 471.5
Trade and other payables 294.2 329.1
Current portion of borrowings 40.0 142.4
----------- -----------
2 130.9 1 816.7
----------- -----------
GROUP CASH FLOW STATEMENTS - SA GAAP
<Caption>
ABRIDGED (R M)
(UNAUDITED) QUARTER QUARTER
SEP 2003 JUN 2003
Net cash out flow from operating activities
before working capital changes (88.5) (87.6)
Working capital changes 40.6 (25.2)
Net cash in flow from investing activities 10.5 3.3
Net cash in/(out) flow from financing activities 327.2 (103.9)
Increase/(decrease) in cash & equivalents 289.8 (213.4)
Translation adjustment (10.0) 39.6
Opening cash and equivalents 331.8 505.6
----------- -----------
Closing cash and equivalents 611.6 331.8
----------- -----------
</Table>
DIRECTORS - (*BRITISH)(**AUSTRALIAN)
EXECUTIVES :
MM Wellesley-Wood (Chairman and Chief Executive Officer)*
IL Murray (Deputy Chief Executive Officer and Chief Financial Officer)
NON-EXECUTIVES :
MP Ncholo ; RP Hume ; GC Campbell* ; DC Baker** ; Prof D Blackmur**
ALTERNATES :
A Lubbe ; D van der Mescht
Group Company Secretary : AI Townsend
<Page>
KEY OPERATING AND FINANCIAL RESULTS
<Table>
<Caption>
CROWN GOLD RECOVERIES ATTRIBUTABLE BLYVOOR NORTH WEST
CROWN ERPM TO DRD UNDER- SURFACE UNDER- SURFACE
SECTION SECTION (40% OF CGR) GROUND GROUND
US$/IMPERIAL
Ore milled - t'000 SEP 03 QTR 2 791 172 1 184 245 428 532 812
Jun 03 Qtr 2 954 163 1 246 232 452 670 1 411
Gold produced - ounces SEP 03 QTR 32 794 29 643 24 975 51 796 9 227 73 657 17 555
Jun 03 Qtr 33 822 22 183 22 402 49 127 9 195 85 580 16 312
Yield - ounces per ton SEP 03 QTR 0.012 0.172 0.021 0.211 0.022 0.138 0.022
Jun 03 Qtr 0.011 0.136 0.018 0.212 0.020 0.128 0.012
Cash operating cost - US$/oz SEP 03 QTR 323 352 NA 346 342 466 242
Jun 03 Qtr 303 449 na 324 355 407 276
Cash operating cost - US$/ton SEP 03 QTR 4 61 NA 73 7 65 5
Jun 03 Qtr 3 61 na 69 7 52 3
Cash operating profit/(loss) - US$ m SEP 03 QTR 1.3 0.3 NA 0.8 0.3 (7.6) 2.0
Jun 03 Qtr 1.6 (2.2) na 1.2 - (4.8) 1.1
ZAR/METRIC
Ore milled - t'000 SEP 03 QTR 2 532 156 1 075 222 388 483 737
Jun 03 Qtr 2 680 148 1 131 211 410 607 1 281
Gold produced - kg SEP 03 QTR 1 020 922 777 1 611 287 2 291 546
Jun 03 Qtr 1 052 690 697 1 528 286 2 662 507
Yield - g/tonne SEP 03 QTR 0.40 5.91 0.72 7.26 0.74 4.74 0.74
Jun 03 Qtr 0.39 4.66 0.62 7.24 0.70 4.39 0.40
Cash operating cost - R/kg SEP 03 QTR 77 185 84 185 NA 82 853 81 937 111 531 58 126
Jun 03 Qtr 75 206 111 528 na 80 488 88 297 101 038 68 574
Cash operating cost - R/tonne SEP 03 QTR 31 498 NA 601 61 529 43
Jun 03 Qtr 30 520 na 583 62 443 27
Cash operating profit/(loss) - R m SEP 03 QTR 9.6 2.5 NA 6.1 1.3 (57.3) 15.5
Jun 03 Qtr 12.3 (16.7) na 9.8 (1.0) (37.3) 8.9
<Caption>
CAPITAL EXPENDITURE QUARTER CROWN GOLD RECOVERIES BLYVOOR NORTH WEST
US$ m R m US$ m R m US$ m R m
Net Outflow SEP 03 QTR 1.5 10.9 2.4 18.1 1.6 11.8
Jun 03 Qtr 1.3 10.7 1.4 11.0 1.7 12.7
<Caption>
TOTAL DIS- TOTAL
DRD CONTINUED DRD
TOLUKUMA OPERATIONS OPERATION ATTRIBUTABLE
US$/IMPERIAL
Ore milled - t'000 SEP 03 QTR 48 3 249 - 3 249
Jun 03 Qtr 50 4 061 378 4 439
Gold produced - ounces SEP 03 QTR 21 283 198 493 - 198 493
Jun 03 Qtr 21 219 203 835 3 890 207 725
Yield - ounces per ton SEP 03 QTR 0.443 0.061 - 0.061
Jun 03 Qtr 0.424 0.050 0.010 0.047
Cash operating cost - US$/oz SEP 03 QTR 280 378 - 378
Jun 03 Qtr 250 352 410 353
Cash operating cost - US$/ton SEP 03 QTR 124 32 - 32
Jun 03 Qtr 106 23 4 20
Cash operating profit/(loss) - US$ m SEP 03 QTR 1.8 (2.7) - (2.7)
Jun 03 Qtr 1.8 (0.7) (0.2) (0.9)
ZAR/METRIC
Ore milled - t'000 SEP 03 QTR 44 2 949 - 2 949
Jun 03 Qtr 45 3 685 343 4 028
Gold produced - kg SEP 03 QTR 662 6 174 - 6 174
Jun 03 Qtr 660 6 340 121 6 461
Yield - g/tonne SEP 03 QTR 15.05 2.09 - 2.09
Jun 03 Qtr 14.67 1.72 0.35 1.60
Cash operating cost - R/kg SEP 03 QTR 66 905 90 520 - 90 520
Jun 03 Qtr 62 198 87 368 101 306 87 661
Cash operating cost - R/tonne SEP 03 QTR 1 007 261 - 261
Jun 03 Qtr 912 193 36 174
Cash operating profit/(loss) - R m SEP 03 QTR 13.4 (21.0) - (21.0)
Jun 03 Qtr 14.1 (5.5) (2.1) (7.6)
<Caption>
CAPITAL EXPENDITURE QUARTER TOLUKUMA TOTAL DRD
US$ m R m US$ m R m
Net Outflow SEP 03 QTR 0.6 4.7 4.7 35.0
Jun 03 Qtr 2.0 15.6 3.3 24.9
</Table>