Trading update in respect of the twelve month period ended 30 June 2006

28 August 2006

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited (“the JSE”) a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period.

The ARM group’s results to 30 June 2006 have been positively impacted by a strong performance from its PGM, nickel and iron ore operations owing to increased volumes, and more specifically high commodity prices as well as a weaker exchange rate during May and June of this year. These improved results were somewhat offset by certain negative market conditions where sales volumes and metal prices have been negatively affected for manganese ore, ferromanganese and ferrochrome alloys.

Following the sale of 50% of Nkomati Nickel Mine (“Nkomati”) to LionOre, effective 31 May 2005, results for this year will only reflect 50% of the profits from this operation whereas in the comparative year the Nkomati profits were accounted for on a 100% basis for 11 months. Furthermore, ARM shareholders are reminded of the fact that the interest held in Harmony Gold Mining Company Limited ceased to be equity accounted with effect from 30 November 2004.

In light of the above, ARM announces that it expects headline earnings per share for the twelve months ended 30 June 2006 to be between 215 and 235 cents per share ( June 2005 : headline earnings per share 166 cents per share ).

This trading statement has not been reviewed or reported on by ARM’s external auditors. The Company’s year end results will be released on 31 August 2006.

By order of the board

25 August 2006
Sponsor: Deutsche Securities (SA) (Proprietary) Limited

For further details, contact
Pieter R�rich
Executive Director: Investor Relations / New Business Development
Tel: +27 11 779 1476

Corn� Bobbert
Corporate Development
Tel: +27 11 779 1478

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 Act 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.