Attributable Earnings Increase 84 per cent on the Back of Increased International Production and an Improved Gold Price JOHANNESBURG, South Africa, May 2 /PRNewswire-FirstCall/ -- Gold Fields Limited (NYSE:GFI)(JSE:GFI) today announced March 2006 quarter net earnings of R483 million compared with R262 million in the December 2005 quarter and a loss of R2 million for the March quarter of 2005. In US dollar terms net earnings for the March 2006 quarter equated to US$76 million compared with US$40 million in the December 2005 quarter and US$0.2 million for the March quarter of 2005. Net earnings excluding gains and losses on financial instruments and foreign debt net of cash and exceptional items were R376 million (US$60 million) for the March 2006 quarter compared with R275 million (US$42 million) for the December 2005 quarter. March 2006 quarter highlights: - Net earnings up 84 per cent to R483 million on the back of increased international production and an improved gold price; - Average gold price up 8 per cent to R109,500 per kilogram and 15 per cent in US dollar terms to US$555 per ounce; - Attributable gold production down 2 per cent to 1,023,000 ounces, despite extended Christmas break and in line with guidance; - Total cash costs up 2 per cent to R73,378 per kilogram - US$372 per ounce (R67,960 per kilogram - US$344 per ounce - when calculated on same basis as peer group); - Acquisition of Bolivar Golds' Choco 10 mine in Venezuela completed, effective 1 March 2006; and - Norilsk Nickel disposed of its entire 20 per cent stake in Gold Fields during the quarter. Ian Cockerill, Chief Executive Officer of Gold Fields said: "Gold Fields produced another solid set of results, with overall production and total cash costs impacted only marginally by the extended Christmas break at the South African operations. All operations maintained good cost control with the bottom-line projects delivering results. As forecast, the declines at the South African operations (mainly at Kloof) were largely offset by a healthy improvement at the international operations. During the quarter Gold Fields assumed control of the newly acquired Choco 10 mine. The focus for the foreseeable future will be to introduce Gold Fields standards to all facets of the operation thus providing a stable platform for future growth. The continued strength of the gold price throughout the quarter is reflected in our improved operating margin and significantly increased earnings, and with expectations of a continued higher gold price increased earnings should continue." Stock data JSE Limited - (GFI) Range - Quarter ZAR111.80 - ZAR146.80 Number of shares in issue Average Volume - at end - 2,244,707 shares / day March 2006 494,075,334 Quarter - average for the quarter 493,790,542 NYSE - (GFI) Range - Free Float 100% Quarter US$18.16 - US$24.16 Average Volume - Quarter 1,934,868 shares / day ADR Ratio 1:1 Bloomberg / Reuters GFISJ / GFLJ.J South African Rand Salient features Nine months to Quarter Restated Restated March March March Dec March 2005 2006 2005 2005 2006 Gold 97,761 95,043 33,845 32,342 31,809 kg produced* Total cash 65,443 72,597 64,957 71,659 73,378 R/kg costs 35,655 36,715 12,789 12,089 12,738 0 Tons milled 82,885 100,887 81,952 101,184 109,500 R/kg Revenue Operating 197 206 184 210 202 R/ton costs Operating 1,630 2,699 537 958 1,187 Rm profit Operating 19 26 18 28 32 % margin Net 155 784 (2) 262 483 Rm earnings 31 159 (1) 53 98 SA c.p.s. Headline 118 743 (4) 261 446 Rm earnings 24 150 (1) 53 90 SA c.p.s. Net earnings excluding gains and losses on financial instruments and foreign debt net of cash and exceptional 183 694 115 275 376 Rm items 37 141 23 56 76 SA c.p.s. *Attributable - All companies wholly owned except for Ghana (71.1%) and Bolivar (95%). Note - restated figures are due to the adoption of IFRS 2, share based payments. Salient features United States Dollars Quarter Nine months to Restated Restated March Dec March March March 2006 2005 2005 2006 2005 Gold produced* (000) oz 1,023 1,040 1,088 3,056 3,143 Total cash costs $/oz 372 341 340 353 332 Tons milled 000 12,738 12,089 12,789 36,715 35,655 Revenue $/oz 555 482 428 490 420 Operating costs $/ton 33 32 31 32 32 Operating profit $m 190 147 90 422 266 Operating margin % 32 28 18 26 19 Net earnings $m 76 40 - 123 25 US c.p.s. 16 8 - 25 5 Headline earnings $m 71 40 - 116 22 US c.p.s. 15 8 - 24 4 Net earnings excluding gains and losses on financial instruments and foreign debt net of cash and exceptional items $m 60 42 21 109 36 US c.p.s. 12 9 4 22 7 *Attributable - All companies wholly owned except for Ghana (71.1%) and Bolivar (95%). Note - restated figures are due to the adoption of IFRS 2, share based payments. To view the full results please visit: http://www.goldfields.co.za/Investor/Quarterly_Reports/FY_2006/march_2006/defa ult.asp Forward Looking Statements Certain statements in this document constitute "forward looking statements" within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa; decreases in the market price of gold; hazards associated with underground and surface gold mining; labour disruptions; changes in government regulations, particularly environmental regulations; changes in exchange rates; currency devaluations; inflation and other macro-economic factors; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document. The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. DATASOURCE: Gold Fields Limited CONTACT: Investor relations, South Africa, Willie Jacobsz, Telephone: (+27)(11)-644-2460, Facsimile: (+27)(11)-484-0639, e-mail: , Nerina Bodasing, Telephone: (+27)(11)-644-2630, Facsimile: (+27)(11)-484-0639, e-mail: ; North America, Cheryl A Martin, Telephone: (+1)(303)-796-8683, Facsimile: (+1)(303)-796-8293, e-mail:

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