JOHANNESBURG, South Africa, January 25 /PRNewswire-FirstCall/ -- Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the December 2006 quarter of R767 million compared with R698 million in the September 2006 quarter and R284 million for the December quarter of 2005. In US dollar terms net earnings for the December 2006 quarter were US$104 million compared with US$98 million in the September 2006 quarter and US$44 million for the December quarter of 2005. Net earnings excluding gains and losses on financial instruments and foreign debt net of cash and exceptional items were R564 million (US$76 million) for the December 2006 quarter compared with R702 million (US$99 million) for the September 2006 quarter. December 2006 quarter highlights: - Attributable gold production increased by 10,000 ounces to 1,015,000 ounces; - Acquisition of Barrick Gold Corporation's 50 per cent interest in South Deep completed - effective date 1 December 2006. Financed by bridging finance of R8.6 billion (US$1.2 billion) and the issue of 18,701,944 Gold Fields shares worth R2.3 billion (US$325 million); - As at 18 January 2007, Gold Fields had received acceptances in respect of approximately 95.6 per cent of the issued share capital of Western Areas. This was financed by the issue of 43,920,023 Gold Fields shares to shareholders of Western Areas. Step is being taken to increase this to 100 per cent with the "squeeze out provisions" of the Companies Act; - South African Government formally approved the conversion of Driefontein, Kloof and Beatrix old order mining licenses into new order mining licenses; - Tarkwa announced US$175 million (R1.25 billion) mill and heap leach expansion projects; - Interim dividend declared of 90 SA cents per share payable on 19 February 2007. Ian Cockerill, Chief Executive Officer of Gold Fields, said: "Overall the Group's performance for the December quarter was steady with production being largely as expected with the exception of Kloof which had a disappointing quarter. Given the cost escalations being experienced in the mining industry, our efforts in controlling costs in this challenging environment are satisfying. The two significant achievements during the quarter under review have been the conversion of the mining rights for all three of our South African operations and our acquisition of the South Deep Gold Mine. While both of these achievements are cornerstones for the future of our company in South Africa, much work remains to be done. While our new order mining rights have now been approved, transformation is an ongoing imperative and Gold Fields is committed to achieving the targets which it has set itself in this regard. The integration of South Deep into Gold Fields is of the highest priority. We are analyzing the existing South Deep mine plan and feasibility study, and will be ramping up the production profile of this mine, to achieve its very significant potential." The full results are available on the Gold Fields website: http://www.goldfields.co.za/ DATASOURCE: Gold Fields Limited CONTACT: Enquiries, South Africa: Willie Jacobsz, Tel. +27-11-644-2460, Fax, +27-11-484-0639, . Nerina Bodasing, Tel. +27-11-644-2630, Fax, +27-11-484-0639, . North America: Cheryl A Martin, Tel. +1-303-796-8683, Fax, +1-303-796-8293,

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