Announcements 2008

The Board is pleased to announce that Mr Bethuel Ngwenya has been appointed as Northam’s new company secretary with effect from 2 December 2008.

Johannesburg
8 December 2008

Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited

1. Introduction

   In view of the deteriorating global economic climate and its consequent effect on commodity prices, the company considers it prudent to provide shareholders with an update on its operational and financial performance for the first four months of the 2009 financial year (?the period?). Numbers for the corresponding first four months of the previous financial year are provided for purposes of comparison.

2. Salient features for the period

   • Production of metals in concentrate up 14.3% to 3 543 kg (113 910 oz)
   • Sales volumes up by 639 kg (20 544 oz)
   • Healthy sales revenues at R1.3bn
   • Average 3PGE+Au basket price of R359 844/kg (US$1 391per oz) realized, 24.3% higher year on year
   • Operating margin of 45.8%

3. Key operational statistics

   	4 months ended 31 October 2008	4 months ended 31 October 2007
   Development metres	4 370	4 199
   Square metres mined	138 551	127 246
   Tonnes milled	792 994	707 018
   Head grade (g/tonne ? 3 PGE + Au)	5.2	5.0
   Precious metals produced (3PGE+Au) (Kg)	3 543	3 099
   Precious metals sold (3PGE+Au) (Kg)	3 271	2 632
   Average price realised ? R/kg	359 844	303 383
   Operating costs ? R/kg	206 708	188 831
   Cash operating costs ? R/kg	182 876	169 973
   Sales revenue (R?000)	1 288 820	947 692
   Cost of sales (R?000)	698 936	440 723
   Operating profit (R?000)	589 884	506 969
   Profit after tax (R?000)	364 803	290 451
   Operating cash flow (R?000)	242 456	108 750
   Capital expenditure (R?000)	122 137	56 887
   Earnings per share (cents) (Note 1)	117.5	122.4
   Headline earnings per share (cents) (Note 1)	117.5	122.4
   Weighted average number of shares in issue (Note 1)	310 500 508	237 279 195

   Note 1 ? On 20 August 2008 the number of shares in issue increased by 121.0 million as a consequence of the implementation of the Booysendal Transaction.

4. Capital expenditure

   As indicated at the end of the 2008 financial year, capital expenditure for the year to 30 June 2009 is estimated at R352 million, of which R122 million has been spent to date. The major capital items included in this estimate are a provision of R75 million for the rebuild of the smelter at the Northam mine and R106 million allocated to the deepening project, specifically the decline to 18 level and related development.

   The smelter rebuild is proceeding well, in line with the planned schedule and within budget, and remains due for recommissioning at the end of December 2008.

   The decline to 16 level is expected to be complete by the end of the financial year after which related development and infrastructure for mining on 15 level will commence.

5. Booysendal

   The company is proceeding with the Booysendal feasibility study. This is scheduled for completion in the third quarter of calendar 2009. The estimated cost for the current financial year is R50 million of which R24 million has been spent to date. Initial indications that the Booysendal project will follow a modular production ramp-up approach remain unchanged.

6. Cash and cash equivalents

   As at 31 October 2008, the company had cash and cash equivalents of R917 million, (equivalent to R2.55 per share) after the payment of tax and dividends in excess of R1.1 billion.

7. Outlook

   During the smelter rebuild Northam?s precious metal concentrate is being refined in terms of a toll refining agreement with a third party. The longer metal pipeline in terms of this agreement will affect unit sales during the first half of the financial year with a consequential effect on earnings per share and headline earnings per share.

   At the current spot metal prices and R/$ exchange rate, Northam?s average basket price for the financial year is estimated at R274 161 per kilogram of 3PGE+Au.

   Although the rate of exchange of the South African Rand against the US dollar has been characterized by increasing levels of volatility since the end of the 2008 financial year, the Rand has traded weaker by 34% against the US dollar in the first four months of this financial year. Provided there is no significant increase in the value of the Rand against the US dollar from these levels, and spot metal prices do not decline further, the company is confident that it will continue to cover its cash costs and capital expenditure.

8. General

   The information contained in this announcement has been prepared in accordance with International Financial Reporting Standards (IFRS) and incorporate the accounting policies that are consistent with those adopted in the financial year ended 30 June 2008.

   Shareholders are advised that the information included in this announcement is the responsibility of the Northam?s directors and has not been reviewed or reported on by the company?s auditors.

Johannesburg
17 November 2008

Sponsor
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited

Johannesburg, 11 November 2008. The management of Northam Platinum Limited (Northam) regrets to advise the death of an employee at its mine near Thabazimbi in the Limpopo province today, 11 November 2008 at approximately 11:00 in an underground incident.

The incident occurred at a working face some 1 900 metres underground. It is not yet clear what the cause of the incident was. Further details will be issued as they become available.

The name of the deceased is being withheld until his next of kin have been informed.

An investigation into the cause of the accident is currently being undertaken by the Department of Minerals and Energy (DME), organized labour and management.

Issued by:

Russell & Associates
Johannesburg
Tel: +27 11 880 3924

Shareholders of Mvela Resources and Northam (“the parties”) are referred to the joint announcement published on 2 October 2008 (the “joint announcement”) regarding the proposed acquisition by Impala Platinum Holdings Limited (“Implats”), through a series of inter-conditional transactions, of the entire issued share capital of Mvela Resources and Northam by Implats (collectively, “the Proposed Transaction”).

The announcement of a firm intention to make an offer by Implats (“the firm intention”) is subject to certain pre-conditions, including, inter alia, confirmation by the Department of Minerals and Energy (“DME”) that the conversion credits which accrued to Anglo Platinum Limited pursuant to the transfer of Booysendal to Northam will not be prejudiced by the Proposed Transaction.

Shareholders of the parties are advised that the DME has reviewed the Proposed Transaction and confirmed that the implementation of the Proposed Transaction will not affect the BEE credits which have accrued to Anglo Platinum Limited.

Shareholders of the parties are reminded that the firm intention to make an offer is subject to certain other pre-conditions, and the implementation of the Proposed Transaction is subject to fulfilment of certain conditions precedent, as set out in the joint announcement.

Shareholders of Mvela Resources and Northam are advised to continue to exercise caution when dealing in their Mvela Resources and Northam shares until a further announcement is made.

Johannesburg
20 October 2008

Sponsor to Mvela Resources
JPMorgan Equities

Sponsor to Northam
Barnard Jacobs Mellet Corporate Finance

Northam advises that Sybrand van der Spuy has tendered his resignation as company secretary with effect from 31 October 2008.

An appointment to fill this position will be made in due course.

Johannesburg
29 September 2008

Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited