Trading update

28 July 2005

Shareholders are referred to the trading update dated 20 May 2005 whereby shareholders were notified that headline and attributable earnings for the financial year to 30 June 2005 were anticipated to be between R197,00 and R240,00 per share.

This trading update serves to inform shareholders that due to the weakening of the rand against the US dollar and additional sales volumes for manganese ore and ferromanganese since the last trading update, headline and attributable earnings for the financial year to 30 June 2005 are both now anticipated to be between R254,00 and R276,00 per share (financial year to 30 June 2004 : headline earnings � R60,26 per share / attributable earnings R61,53 per share).

The above forecast earnings per share information has not been reviewed, or reported on by Assmang’s auditors. The year end results are expected to be released towards the end of August 2005.

For more information please contact:
Alan Jepson
Office: +27(0) 11 779 1100
or: +27(0) 83 701 7990

Forward Looking Statements Certain statements in this presentation 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 A ct 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 commodities; hazards associated with underground and surface mining; labor disruptions; changes in government regulations, particularly environmental regulations; changes in exchange rates; currency devaluations; inflation and other macroeconomic factors; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of publication of these pages. 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 publication of these pages or to reflect the occurrence of unanticipated events.