RNS Number:1864L
Ashanti Goldfields Company Ld
16 May 2003









          P    R    E    S    S        R    E    L    E    A    S    E



FOR IMMEDIATE RELEASE                                             16 May 2003



STATEMENT REGARDING SHARE PRICE MOVEMENT



The board of Ashanti Goldfields Company Limited ("Ashanti") notes the recent
movement in its share price.  It confirms that the boards of Ashanti and
AngloGold Limited ("AngloGold") are in discussions regarding a proposed merger
of the two companies at a ratio of 26 AngloGold shares for every 100 Ashanti
ordinary shares or global depositary securities.  These discussions may or may
not lead to a proposal being made for the entire issued share capital of
Ashanti.



The boards of the two companies have initiated discussions with certain
stakeholders and a further announcement will be made in due course.   However,
there can be no assurance that agreement will be reached.   Consequently,
shareholders of Ashanti are advised to exercise caution when dealing in the
relevant securities until a further announcement is made.



End





For further information contact:



Ashanti Goldfields Company Limited

Srinivasan Venkatakrishnan, Chief Financial Officer     Tel:     +233 21 778 171

Ernest Abankroh, Company Secretary                      Tel:     +233 21 774 977

Mark Arnesen, MD - International Treasury               Tel:    +44 207 256 9938



North American Contact:

Allan Jordan - Golin Harris                           Tel:       +1 212 697 9191



CIBC World Markets Plc

Andy Quinn, Managing Director                        Tel:       +44 20 7234 6400



Certain statements in this announcement are forward-looking within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended.  Although Ashanti believes that the
expectations reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have been correct.



For a discussion of the important factors and risks involved in Ashanti's
business refer to Ashanti's filings with the U.S. Securities and Exchange
Commission (the "Commission"), including Ashanti's amended annual report on Form
20-F/A for the year ended 31 December 2001, filed with the Commission on 27
January 2003.

Ashanti does not undertake any obligation to update publicly or release any
revisions to publicly update any forward-looking statements discussed in this
announcement, whether as a result of new information, future events or
otherwise.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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