Further to the announcement dated 13 October 2004, the management of Northam advises that normal operations have resumed at the company’s mine following the suspension of production on 20 September 2004.

Underground activities were resumed on 13 October 2004 with the aim of ensuring, as far as reasonably practicable, the safety of working areas prior to the re-commencement of any production. Working crews from the stoping areas on the Merensky Reef below 12 level directly affected by the fire, have been re-deployed where possible to other working areas.

Claims for material damage and business interruption have been lodged with the Company’s insurers.

The cautionary announcement dated 22 September 2004 is accordingly withdrawn.

Queries

Marion Brower
011 880 3924
082 895 0698

Johannesburg, 13 October 2004. The management of Northam Platinum Limited advises that the order in terms of Section 54 of the Mine Health and Safety Act, imposed by the Department of Minerals and Energy (DME) on 21 September 2004, has been set aside.

Operations at the company’s mine were suspended on Monday 20 September 2004 after an underground fire resulted in nine employees losing their lives. The order was set aside subsequent to a presentation made by management to the DME and National Union of Mineworkers dealing with risk assessments which had been done after the accident and an action plan to be followed before production resumes.

Underground activities have been resumed at the mine and will initially focus on fixing physical conditions which have deteriorated while the mine has been idle, rectifying any substandard areas identified through a risk assessment process, as well as cleaning and maintenance. Production will only be resumed in a working area once that area is made safe, as far as is reasonably practicable.

Total revenue losses at prevailing metal prices and exchange rates since the cessation of mining operations are estimated at R147 million. Material damage in the area affected by the fire is estimated at R8.5 million.

With the resumption of production, the only stoping areas that will be affected are those on the Merensky Reef below 12 level, which account for approximately 10% of total current monthly mill tonnage. Working crews from these areas will be deployed in other working areas.

Northam Platinum Limited advises that production remains suspended at its platinum mine in the Limpopo Province, after the tragic death of nine employees at the mine on Monday 20 September 2004 as a result of a fire some 2,100 metres underground.

The fire was detected at a conveyor belt used for transporting both ore and waste materials between 13 and 14 levels. The people affected by the fire were working in a development end on 14 level. The cause of the fire is currently the subject of an inquiry.

Production at the mine will be restarted when all the parties involved in the preliminary investigations are satisfied that operations may resume safely.

Since the duration of the disruption to production cannot be accurately determined at this time, it is not yet possible to estimate the total production loss. However, losses of an average 7 500 mill tonnes per day may be anticipated, equivalent to 1 050 oz (3PGE + Au).

Once underground production resumes, management will be in a better position to indicate where and how, if possible, it may be able to make up for lost production.

Further detail on the situation at Northam will be issued once it becomes available. Shareholders are accordingly advised to exercise caution when dealing in the company’s shares on JSE Securities Exchange South Africa.

Queries

Marion Brower
011 880 3924
082 895 0698

Zenzele Bam
011 880 3924
083 544 1827

Northam advises that:

• Mr. Dorian Emmett resigned as a non-executive director of the company with effect from 30 August 2004; and
• Mr. Robin George Mills was appointed a non-executive director of the company with effect from 1 September 2004.
• Mr. Mills is Executive Director of Mining at Anglo American Platinum Corporation Limited.

Johannesburg
2 September 2004

Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited

In July 2002, prior to the promulgation of the Mining Charter, Anglo American Platinum Corporation Limited ("Anglo Platinum") offered Northam a 5% interest in the proposed Pandora Joint Venture ("Pandora") between Anglo Platinum and Lonmin"s Eastern Platinum Limited ("Eastern Platinum"). The Bapo Ba Mogale was offered a 5% interest in Pandora by Eastern Platinum to take the total participation by Historically Disadvantaged South Africans ("HDSA"s") in Pandora to 10%.

This offer was accepted and a Joint Venture Agreement was concluded which was contingent upon the approval of the regulatory authorities and more particularly the Department of Minerals and Energy ("DME").

The DME subsequently required that the total HDSA participation in Pandora should be increased from 10% to 15%. The DME also indicated that it was of the view that Northam would not be recognised as an HDSA controlled company for the purposes of the Minerals and Petroleum Resources Development Act as less than the minimum required percentage of the company"s issued shares was held by HDSA entities. Mvelaphanda Resources Limited ("Mvela Resources"), a recognised HDSA entity and one of Northam"s major shareholders, currently holds 22.3% of Northam"s issued shares.

To meet the DME"s requirements, Anglo Platinum accepted a proposal by the company and Mvela Resources that the Joint Venture Agreement be amended, so as to vest in Mvela Resources, a 7,5% interest in Pandora on terms to be agreed. This arrangement is subject to the condition that as soon as the HDSA stake in Northam is in compliance with the requirements of the DME, Mvela Resources will redeploy the 7.5% interest in Pandora at cost to Northam or to Northam"s nominee.

Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited