GOLD FIELDS LIMITEDGOLD FIELDS LIMITEDGOLD FIELDS LIMITEDGOLD FIELDS LIMITED QUARTERLY RESULTSQUARTERLY RESULTSQUARTERLY RESULTSQUARTERLY RESULTS

SEPTEMBER 2000SEPTEMBER 2000SEPTEMBER 2000SEPTEMBER 2000

• Gold production up 6 per cent

• Operating profit up to R428 million despite annual wage increases

• Cash costs down to US$ 206 per ounce

• Disappointing results from Oryx and St Helena

Dear Shareholder On balance, the September quarter was a good quarter for Gold Fields. Production was up by six per cent over the June quarter and, despite a lower US dollar gold price and flat Rand gold price, operating profit was marginally improved from R418 million to R428 million. Furthermore, the impact of a nine per cent increase in labour rates was absorbed in this quarter. Net earnings for the quarter were a reduced R201 million compared with R314 million in the previous quarter. However, these are not strictly comparable because of the abnormal items in the June quarter. Normalised earnings for the June quarter amounted to R206 million. Tarkwa and Beatrix had strong operational quarters with Driefontein and Kloof showing recognisable improvements. The restructuring and downsizing of Libanon should yield further improvements for Kloof in the coming quarters. Oryx and St. Helena continue to disappoint, resulting in a drain on profits. Both are enduring close scrutiny during this quarter as the continued losses cannot be tolerated indefinitely and restructuring will be considered. Despite two seismically triggered incidents at Kloof and Driefontein, in which six employees tragically lost their lives, we have made consistent progress in improving safety, which remains a core objective. The business of deep level gold mining requires intense attention to safety. Reducing the fatality rates is a fundamental goal and requires the commitment of employees, the unions and management alike. It was with severe disappointment that we received news on the 20th of September that the Minister of Finance had turned down our application to merge with Franco-Nevada. The state of the gold industry dictates the need for global consolidation and it disadvantages South Africans by denying them the right to participate. The merger with Franco-Nevada would have created a company that could have become dominant globally and could have led the way to improving the overall health of the industry. The turndown does not signal a change in strategy. Internationalising Gold Fields remains a key objective and we are currently exploring several alternative means to achieve this. Shareholders will be kept informed of any material developments in this regard.

Chris Thompson Chairman and Chief Executive Officer 26 October 2000.

SA RAND US DOLLARS

Quarter Quarter

June 2000

Sept. 2000

SALIENT FEATURES

Sept. 2000

June 2000

28,623 30,256 Kg Gold production* oz (000) 973 920

45,718 46,407 R/kg Cash costs $/oz 206 207

5,815 5,985 000 Tons milled 000 5,985 5,815

62,093 62,160 R/kg Revenue $/oz 277 281

239 252 R/ton Operating costs $/ton 36 35

418 428 Rm Operating profit $m 61 61

370 206 Rm $m 29 54

82 45 SA c.p.s.

Earnings before exceptional items

- net of tax US c.p.s. 7 12

314 201 Rm $m 29 46

69 44 SA c.p.s. Net earnings

US c.p.s. 6 10 *Attributable – All companies wholly owned except for Tarkwa (71.1%)

Quarter ended 30 September 2000

STOCK DATA

Number of shares in issue 453,250,595

Free Float 89%

ADR Ratio 1:1

Bloomberg / Reuters GFI SJ / GFLJ.J

JOHANNESBURG STOCK EXCHANGE – [GFI]

Range - Quarter SAR22.50 – SAR26.30

Average Volume - Quarter 670,000 shares / day

Range – 52 Weeks SAR16.05 –SAR37.05

Average Volume – 52 Weeks 876,000 shares / day

NASDAQ – [GOLD]

Range - Quarter US$2.97 - US$4.09

Average Volume - Quarter 310,000shares / day

Range – 52 Weeks US$2.97 - US$6.25

Average Volume – 52 Weeks 150,000 shares / day

SHARE PRICE PERFORMANCE

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---- GFI ---- $ GOLD INVESTOR RELATIONS Europe & South Africa Willie Jacobsz Tel: +27 11 644-2460 Fax: +27 11 484-0639 E-mail: investors@goldfields.co.za North America Cheryl A. Martin Tel: +1 303 796-8683 Fax: +1 303 796-8293 E-mail: camartin@gfexpl.com www.goldfields.co.za www.gold-fields.com

2

COMMENTARYCOMMENTARYCOMMENTARYCOMMENTARY Management and the Board of Gold Fields are deeply saddened by the accident at Kloof Mine during the quarter, where four employees lost their lives in a multiple seismic event. This accident, the worst at Kloof for many years, happened on 22 September at Kloof Main shaft when a succession of seismic events, measuring up to 2.9 on the Richter scale, shook the mine approximately 2.7 kilometres below the surface. Regrettably, less than a week later, a further seismic event affected Driefontein, resulting in the death of a further two miners. Our thoughts go out to all the family and friends of our departed colleagues and our commitment to safety continues at the highest level. On the positive side, Driefontein (before the incident) and Oryx, achieved one million fatality free shifts during the quarter. Despite a flat Rand gold price, a nine per cent increase in labour costs, increased development and an increase in tons milled, operating profit in the September quarter improved marginally to R428 million compared to R418 million in the previous quarter. Net earnings for the September quarter amounted to R201 million, compared to R314 million in the June quarter which was, however, distorted by an abnormal tax credit of R162 million and the after tax effect of the write-down of Libanon which amounted to R54 million. Normalised earnings for the June quarter, excluding these once-off items, amounted to R206 million. Revenue, at R1,930 million, was R126 million higher than the previous quarter, largely due to a six per cent increase in attributable production from 920,000 ounces in the June quarter to 973,000 ounces in the September quarter. Total managed production for the September quarter was 1,003,000 ounces. The effects of the lower gold price of US$277 per ounce, as compared to the price achieved in the previous quarter of US$281 per ounce, was offset by a further weakening in the rand/dollar exchange rate from R6.87 to R6.99 quarter on quarter. The resultant realised price for the September quarter was R62,160 per kilogram, virtually unchanged from R62,093 per kilogram in the June quarter. Although operating costs increased by eight per cent to R1,502 million in the September quarter, this must be viewed in the context of the labour increases mentioned earlier, the six per cent increase in production and the planned twelve per cent increase in development that occurred across all the operations. This is emphasised by the fact that cash costs in rand terms have increased by less than two per cent quarter on quarter and, in US$ terms, improved to US$206 per ounce compared to US$207 per ounce achieved in the previous quarter. The operating margin, at 22 per cent, is virtually unchanged from the previous quarter. As mentioned in the past, the Group’s objective is to maintain an operating margin of at least 25 per cent. Other income in the June quarter was unusually high because of extraordinary receipts from Biox and Rand Refinery. Net earnings for the quarter amounted to R201 million after accounting for R8 million exceptional items (retrenchments) and a tax provision of R43 million. Net earnings of R314 million in the previous quarter included the deferred tax reversal at Beatrix/Oryx of R162 million and was partly offset by the impairment at Libanon, which amounted to R54 million after tax. Capital expenditure increased to R215 million in the September quarter from R151 million in the previous quarter mainly due to increased activity associated with the group’s key capital programmes being the 1 and 5 shaft complex at Driefontein and the 4 sub-vertical shaft at Kloof. Notwithstanding the increased capital expenditure during the quarter, the group’s financial position continued to be sound with cash increasing by R162 million to R677 million at the end of September. The Gold Fields Ghana project debt reduced by US$2.5 million during the quarter to US$27.5 million as repayment of this loan commenced. Repayment of the loan will continue at this rate until it is fully repaid at the end of F2003.

Increases in tons milled and improved yields resulted in a six per cent increase in gold output from 920,000 attributable ounces in the June quarter to 973,000 ounces this quarter. Cash costs, assisted by a slight weakening of the Rand, improved to US$206 per ounce and, in Rand terms, amounted to R46,407 per kilogram, an increase of less than two per cent quarter on quarter.

HEALTH AND SAFETYHEALTH AND SAFETYHEALTH AND SAFETYHEALTH AND SAFETY

FINANCIALFINANCIALFINANCIALFINANCIAL

OPERATOPERATOPERATOPERATIONSIONSIONSIONS

3

COMMENTARYCOMMENTARYCOMMENTARYCOMMENTARY In Ghana, the Tarkwa operation again achieved record production levels with gold produced increasing 30 per cent to 105,000 ounces despite only a nominal contribution from Teberebie of just over one thousand ounces. Management has further improved grade control, resulting in an average yield of 1.4 g/t for the quarter, well above the 1.1 g/t achieved in the previous quarter. It is anticipated that cash costs, at US$165 per ounce for the quarter, will be maintained despite the full impact of increased oil prices beginning to take effect. At Driefontein, despite the difficulty in maintaining yields due to declining face grades, gold output increased nine per cent to 358,000 ounces due to higher volume mined. The surface operations again contributed 41,000 ounces, at a cost of approximately US$70 per ounce. Despite increases in volume mined and development, cash costs in Rand terms reduced by two per cent to R43,162 per kilogram and in dollar terms were lower at US$192 per ounce. Kloof showed a small but steady improvement quarter on quarter, with gold produced at 337,000 ounces, a four per cent increase, and cash costs at R47,434 per kilogram (US$ 211 per ounce) remaining virtually unchanged, this despite a 19 per cent increase in development and increased stoping. As mentioned in the previous quarter, a decision has been taken to downscale operations at Libanon to reduce the drain on profits. The mine is currently redeploying a significant number of staff elsewhere within Gold Fields but the benefits of this restructuring will only be realised in the quarters ahead. The downscaled operation is settling down well. In the Free State, Beatrix had a record production month in September and produced 127,000 ounces during the quarter at a cash cost of US$183 per ounce. Despite improved development at Oryx and St Helena, these operations produced disappointing results for the quarter, with operating losses of R26 million and R19 million respectively. The principal cause of these losses is a lack of pay face resulting from limited mining flexibility. Clearly, the losses at these operations cannot be sustained and the group is actively investigating ways of ameliorating them. In the interim, the focus will continue to be on improving flexibility through increased development and a reduction in unpay stoping. With the Gold Fields commitment to preventing fatalities, a full compliance safety programme was launched during the quarter. This includes the education and training of all employees in respect of safety regulations as well as correct safety principles. The group’s key value drivers are safety, productivity and cost performance. Increased production provides the most leverage for the group due to the labour intensive nature of the group’s operations. To this end, the group is actively investigating ways of removing barriers to improved safety and higher production, including enhanced mining flexibility through increased development, improved environmental conditions, education and training and a gradual move away from longwall to sequential grid mining. The metallurgical feasibility study at Driefontein is expected to be completed early in 2001 and a decision on whether to commit to the project should be made by mid 2001. The additional capacity of a new plant would provide scope for treatment of the significant amount of waste rock on the property. At Tarkwa, the feasibility for phase III continued and is expected to be completed by early next year. Should positive results emanate, an expansion decision will be made. The Arctic Platinum project in Finland, which offers Gold Fields a 51 per cent optional earn-in after investing US$13 million over the next six years. The major reefs appear continuous over the 23 km of mineral concessions. The economic benefits of this project, as well as other exploration ventures, are continually monitored. A further 12 target zones were delineated within the Arctic Platinum Project’s area of interest and will be investigated over the next 12 months. The unaudited results for the quarter have been prepared on the International Accounting Standards basis. The detailed financial, operational and developmental results for the September 2000 quarter are submitted in this report. These consolidated quarterly condensed financial statements are prepared in accordance with IAS 34, Interim Financial Reporting. The Kloof Division is now reported as a single entity, since the Kloof, Leeudoorn and Libanon Mines have been combined, with the smaller Leeudoorn and Libanon now being managed as individual shafts of the Kloof Division.

OUTLOOKOUTLOOKOUTLOOKOUTLOOK

GENERALGENERALGENERALGENERAL

4

INCOME STATEMENTSINCOME STATEMENTSINCOME STATEMENTSINCOME STATEMENTS

International Accounting Standards Basis Figures are in millions unless stated SA RAND

Quarter

September 2000

June 2000 September 1999

Revenue 1,930.2 1,804.3 1,648.8

Spot sales 1,930.2 1,804.3 1,572.6

Hedging profit - - 76.2

Operating cost 1,502.1 1,386.3 1,444.1

Operating profit 428.1 418.0 204.7

Gold inventory change 8.9 (27.4) (13.2)

Amortisation and depreciation 156.3 143.8 171.1

Net operating profit 262.9 301.6 46.8

Other income 17.3 47.1 15.4

Business development (14.0) (27.9) (13.1)

Profit before tax and exceptional items 266.2 320.8 49.1

Exceptional loss (8.0) (108.0) (131.0)

Profit / (loss) before taxation 258.2 212.8 (81.9)

Mining and income taxation 43.4 (108.4) 45.0

- Normal taxation 22.1 93.5 48.2

- Deferred taxation 21.3 (201.9) (3.2)

Profit / (loss) after taxation 214.8 321.2 (126.9)

Minority interest 14.3 6.8 (38.9)

Net earnings / (loss) 200.5 314.4 (88.0)

Exceptional items

Retrenchment costs (8.0) (7.4) (66.2)

Impairment of assets - (100.0) -

Hedge buy back costs - - (64.8)

Other - (0.6) -

Total exceptional items (8.0) (108.0) (131.0)

- Taxation 2.5 51.8 (17.0)

- Minorities share of exceptional items 0.1 0.4 39.7

Net exceptional items after tax and minorities (5.4) (55.8) (108.3)

Earnings / (loss) per share (cents) after exceptional items 44 69 (20)

Net earnings (Rm) before exceptional items net of taxation 205.9 370.2 20.3

Earnings per share (cents) before exceptional items, net of tax 45 82 5

5

INCOME STATEMENTSINCOME STATEMENTSINCOME STATEMENTSINCOME STATEMENTS

International Accounting Standards Basis Figures are in millions unless stated US DOLLARS

Quarter

September 2000

June 2000 September 1999

Revenue 276.1 262.6 270.7

Spot sales 276.1 262.6 258.2

Hedging profit - - 12.5

Operating cost 214.9 201.8 237.1

Operating profit 61.2 60.8 33.6

Gold inventory change 1.3 (4.0) (2.2)

Amortisation and depreciation 22.4 20.9 28.1

Net operating profit 37.5 43.9 7.7

Other income 2.5 6.9 2.5

Business development (2.0) (4.1) (2.2)

Profit before tax and exceptional items 38.0 46.7 8.0

Exceptional gain / (loss) (1.1) (15.7) (21.5)

Profit / (loss) before taxation 36.9 31.0 (13.5)

Mining and income taxation 6.2 (15.8) 7.4

- Normal taxation 3.2 13.6 7.9

- Deferred taxation 3.0 (29.4) (0.5)

Profit / (loss) after taxation 30.7 46.8 (20.9)

Minority interest 2.0 1.0 (6.4)

Net earnings / (loss) 28.7 45.8 (14.5)

Exceptional items

Retrenchment costs (1.1) (1.1) (10.9)

Impairment of assets - (14.6) -

Hedge buy back costs - - (10.6)

Other - - -

Total exceptional items (1.1) (15.7) (21.5)

- Taxation 0.4 7.5 (2.8)

- Minorities share of exceptional items - 0.1 6.5

Net exceptional items after tax and minorities (0.7) (8.1) (17.8)

Earnings / (loss) per share (cents) after exceptional items 6 10 (3)

Net earnings (Rm) before exceptional items net of taxation 29.4 53.9 3.3

Earnings per share (cents) before exceptional items, net of tax 7 12 1

SA Rand / US conversion rate 6.99 6.87 6.09

6

BALANCE SHEETSBALANCE SHEETSBALANCE SHEETSBALANCE SHEETS

International Accounting Standards Basis Figures are in millions unless stated

South African Rand United States Dollars

September

2000 June 2000 September 2000 June 2000

Mining and mineral assets 12,462.3 12,326.8 1,721.3 1,820.8

Non current assets 132.1 128.3 18.2 19.0

Investments 245.4 244.1 33.9 36.1

Current assets 1,204.6 1,079.7 166.3 159.5

-Cash and deposits 677.3 514.9 93.5 76.1

-Other current assets 527.3 564.8 72.8 83.4

Net assets 14,044.4 13,778.9 1,939.7 2,035.4

Represented by:

Shareholders’ equity 8,483.7 8,214.4 1,171.8 1,213.4

Outside shareholders’ interest 238.4 203.2 32.9 30.0

Deferred taxation 3,556.5 3,535.3 491.2 522.2

Long-term loans 126.7 135.4 17.5 20.0

Environmental rehabilitation provisions 329.8 319.5 45.6 47.2

Post-retirement health care provisions 220.6 224.8 30.5 33.2

Current liabilities 1,088.7 1,146.3 150.2 169.4

- Other current liabilities 1,016.3 1,078.6 140.2 159.4

- Current portion of long-term loans 72.4 67.7 10.0 10.0

14,044.4 13,778.9 1,939.7 2,035.4

SA Rand / US$ conversion rate 7.24 6.77

CONDENSED STATEMENTS CONDENSED STATEMENTS CONDENSED STATEMENTS CONDENSED STATEMENTS Of Changes In Shareholders’ Equity

South African Rand United States Dollars

September 2000 September

1999 September 2000 September

1999

Balance as at the beginning of the financial year 8,214.4 7,417.6 1,213.4 1,226.1

Currency translation adjustment and other 60.3 84.9 (71.5) 22.1

Issue of share capital 8.5 - 1.2 -

Net earnings / (loss) 200.5 (88.0) 28.7 (14.5)

Balance as at the end of September 8,483.7 7,414.5 1,171.8 1,233.7

Where necessary comparatives for the prior year have been restated to conform with changes in accounting policy and presentation.

7

CASH FLOW STATEMENTSCASH FLOW STATEMENTSCASH FLOW STATEMENTSCASH FLOW STATEMENTS

International Accounting Standards Basis Figures are in millions unless stated SA RAND

Quarter

September 2000 June 2000

Cash flow from operating activities 385.9 369.9 Profit before tax and exceptional items 266.2 320.8 Exceptional gain (8.0) (108.0) Amortisation and depreciation 156.3 143.8 Change in working capital (41.1) (39.7) Taxation paid (5.8) (55.8) Other non-cash items 18.3 108.8

Cash utilised in investing activities (220.5) (266.6) Capital expenditure - net (215.0) (151.2) (Purchase) / disposal of investments - net (1.3) (65.7) Investments in trust funds and medical payments (4.2) (49.7)

Cash flow from financing activities

(3.0) 11.3

Net cash inflow 162.4 114.6 Cash at beginning of period 514.9 400.3

Cash at end of period

677.3 514.9 US DOLLARS

Quarter September 2000 June 2000

Cash flow from operating activities 55.3 53.8 Profit before tax and exceptional items 38.0 46.7 Exceptional gain (1.1) (15.7) Amortisation and depreciation 22.4 20.9 Change in working capital (5.7) (6.0) Taxation paid (0.8) (8.2) Other non-cash items 2.5 16.1

Cash utilised in investing activities (30.5) (39.3) Capital expenditure – net (29.7) (22.3) (Purchase) / disposal of investments - net (0.2) (9.7) Investments in trust funds and medical payments (0.6) (7.3)

Cash flow from financing activities

(0.4) 1.7

Net cash inflow 24.4 16.2 Translation adjustment (7.0) (1.2) Cash at beginning of period 76.1 61.1

Cash at end of period

93.5 76.1

8

HEDGINGHEDGINGHEDGINGHEDGING

POLICY

• Hedges are established on a project specific basis where

applicable, to protect cash flows in times when significant

capital projects are being undertaken or where specific debt

servicing requirements exist.

• In addition, hedges may also be implemented from time to time

to safeguard the viability of higher cost operations.

• General corporate hedging unrelated to any specific project is not undertaken.

• Deviations from this policy may occur from time to time

depending on management's view of fundamental changes in

the gold market.

Tarkwa US Dollar Gold Outright Forward Sales

2000/2001 September December March June Financial

Year

Volume – oz - 40,000 40,000 33,333 113,333

Gold price -US$/oz - 290 292 297 293

2001/2002

Volume – oz 33,333 - - - 33,333

Gold price -US$/oz 296 - - - 296

2002/2003

Volume – oz 13,333 - - - 13,333

Gold price -US$/oz 306 - - - 306

OTHER INSTRUMENTSOTHER INSTRUMENTSOTHER INSTRUMENTSOTHER INSTRUMENTS Beatrix * SA Rand Gold Call Options

2000/2001 September December March June Financial Year

Volume – oz - 85,678 85,678 85,678 257,034

Strike price - R/oz - 2,189 2,235 2,281 2,235

Strike price -US$/oz - 302 309 315 309

2001/2002

Volume – oz 85,678 - - - 85,678

Strike price - R/oz 2,329 - - - 2,329

Strike price -US$/oz 322 - - - 322

Rand/Gold call options on 342 712 ounces at an average strike price of R2 258 per ounce, providing upside exposure.

*Converted at an exchange rate of US$1=R7.24

9

OPERATING COSTSOPERATING COSTSOPERATING COSTSOPERATING COSTS

Quarter Ended 30 September 2000 All figures are in Rand millions unless stated

Free State Division

Driefontein Division

Kloof Division Beatrix Oryx St Helena

Tarkwa TOTAL

Operating costs (1) September 2000 511.5 510.8 172.0 105.1 85.7 117.0 1,502.1 June 2000 456.0 484.1 155.7 96.5 78.1 115.9 1,386.3 Less: Rehabilitation costs September 2000 2.1 0.9 0.3 0.2 0.7 1.0 5.2 June 2000 (13.2) (0.3) 0.7 0.5 1.0 1.1 (10.2) Production taxes September 2000 2.7 3.3 0.8 0.5 0.4 - 7.7 June 2000 2.3 1.9 0.8 0.1 0.1 - 5.2 Gold in process change September 2000 - - - - - (4.1) (4.1) June 2000 - - - - - 19.9 19.9 General and administration September 2000 28.7 23.7 8.3 2.2 2.4 5.2 70.5 June 2000 16.8 17.9 5.9 3.2 1.3 3.8 48.9 Cash operating costs September 2000 478.0 482.9 162.6 102.2 82.2 114.9 1,422.8 June 2000 450.1 464.6 148.3 92.7 75.7 91.1 1,322.5 Plus: Production taxes September 2000 2.7 3.3 0.8 0.5 0.4 - 7.7 June 2000 2.3 1.9 0.8 0.1 0.1 - 5.2 Royalties September 2000 - - - - - 6.3 6.3 June 2000 - - - - 0.1 4.5 4.6 CASH COSTS (2) September 2000 480.7 486.2 163.4 102.7 82.6 121.2 1,436.8 June 2000 452.4 466.5 149.1 92.8 75.9 95.6 1,332.3 Plus: Amortisation # September 2000 49.2 38.8 12.7 8.6 1.2 21.9 132.4 June 2000 51.1 35.4 2.5 8.7 2.9 23.5 124.1 Rehabilitation September 2000 2.1 0.9 0.3 0.2 0.7 1.0 5.2 June 2000 (13.2) (0.3) 0.7 0.5 1.0 1.1 (10.2) TOTAL PRODUCTION COSTS (3) September 2000 532.0 525.9 176.4 111.5 84.5 144.1 1,574.4 June 2000 490.3 501.6 152.3 102.0 79.8 120.2 1,446.2

Gold produced – ‘000 ounces* September 2000 358.1 329.5 127.4 40.8 34.5 105.1 995.4 June 2000 329.7 317.0 124.4 50.2 34.7 81.0 936.9 CASH COSTS – US$/oz September 2000 192 211 183 360 343 165 206 June 2000 200 214 175 269 318 172 207 TOTAL PRODUCTION COSTS – US$/oz September 2000 213 228 198 391 351 196 226 June 2000 216 230 178 296 335 216 225 * Gold produced excludes production at Kloof No 4 Shaft, which is capitalised. Exchange rates applied are US$1 = R6.99 and US$1 = R6.87 for the September

and June quarters respectively. DEFINITIONS Cash costs and total production costs are calculated in accordance with the Gold Institute industry standard. (1) Operating costs – All gold mining related costs before amortisation, changes in gold inventory, taxation and exceptional items. (2) Cash costs – Operating costs less off-mine costs, including general and administration costs, as detailed in the table above. (3) Total production costs – Cash costs plus amortisation/depreciation and rehabilitation provisions, as detailed in the table above. # Excludes the fair value adjustment from the merger of Driefontein and Gold Fields Limited.

10

SOUTH AFRICAN RANDSOUTH AFRICAN RANDSOUTH AFRICAN RANDSOUTH AFRICAN RAND

OPERATING AND FINANCIAL OPERATING AND FINANCIAL OPERATING AND FINANCIAL OPERATING AND FINANCIAL RESULTSRESULTSRESULTSRESULTS

Individual Mines

Operating Results Free State Division

Driefontein Division

Kloof Division Beatrix Oryx St Helena

Tarkwa TOTAL

Ore milled / treated* (000 tons) September 2000 1,611 977 688 200 244 2,265 5,985 June 2000 1,507 955 702 189 252 2,210 5,815 Yield (grams per ton) September 2000 6.9 10.7 5.8 6.3 4.4 1.4 5.2 June 2000 6.8 10.5 5.5 8.3 4.3 1.1 5.0 Gold produced (kilograms) September 2000 11,137 10,490 3,964 1,269 1,072 3,269 31,201 June 2000 10,256 10,068 3,868 1,561 1,080 2,518 29,351 Gold declared (kilograms) September 2000 11,137 10,490 3,964 1,269 1,072 3,360 31,292 June 2000 10,256 10,068 3,868 1,561 1,080 2,434 29,267 Gold price received (Rands per kilogram) September 2000 62,054 62,195 61,983 62,175 62,034 62,649 62,160 June 2000 62,003 62,217 62,203 62,204 62,037 61,750 62,093 Cash costs (Rands per kilogram) September 2000 43,162 47,434 41,221 80,930 77,052 37,076 46,407 June 2000 44,111 47,317 38,547 59,449 70,278 37,967 45,718 Cash costs (US dollar per ounce) September 2000 192 211 183 360 343 165 206 June 2000 200 214 175 269 318 172 207 Total production costs (Rands per kilogram) September 2000 47,769 51,307 44,501 87,864 78,825 44,081 50,851 June 2000 47,806 50,877 39,374 65,343 73,889 47,736 49,626 Operating costs (Rands per ton) September 2000 318 539 250 526 351 52 252 June 2000 303 518 222 511 310 52 239

Financial Results (Rand Million) Unaudited

Revenue September 2000 691.1 637.5 245.7 78.9 66.5 210.5 1,930.2 June 2000 635.9 613.4 240.6 97.1 67.0 150.3 1,804.3 - Spot gold sales September 2000 691.1 637.5 245.7 78.9 66.5 210.5 1,930.2 June 2000 635.9 613.4 240.6 97.1 67.0 150.3 1,804.3 - Hedge profit September 2000 - - - - - - - June 2000 - - - - - - - Operating costs September 2000 511.5 510.8 172.0 105.1 85.7 117.0 1,502.1 June 2000 456.0 484.1 155.7 96.5 78.1 115.9 1,386.3 Operating profit September 2000 179.6 126.7 73.7 (26.2) (19.2) 93.5 428.1 June 2000 179.9 129.3 84.9 0.6 (11.1) 34.4 418.0 Amortisation of mining assets # September 2000 49.2 38.8 21.3 1.2 21.9 132.4

June 2000 51.1 35.4 11.2 2.9 23.5 124.1 Gold inventory change September 2000 - - - - 8.9 8.9 June 2000 - - - - (27.4) (27.4) Net operating profit September 2000 130.4 87.9 26.2 (20.4) 62.7 286.8 June 2000 128.8 93.9 74.3 (14.0) 38.3 321.3 Other income September 2000 5.0 5.1 3.2 0.5 (6.6) 7.2 June 2000 14.8 13.7 2.3 (0.5) (8.2) 22.1 Profit before taxation September 2000 135.4 93.0 29.4 (19.9) 56.1 294.0 June 2000 143.6 107.6 76.6 (14.5) 30.1 343.4 Mining and income taxation September 2000 21.6 16.1 7.8 - 6.3 51.8 June 2000 65.6 (29.0) (165.9) (2.3) 4.9 (126.7) - Normal taxation September 2000 13.0 2.0 - - 6.3 21.3 June 2000 69.4 18.1 - - 4.5 92.0 - Deferred taxation # September 2000 8.6 14.1 7.8 - - 30.5 June 2000 (3.8) (47.1) (165.9) (2.3) 0.4 (218.7) Earnings before exceptional items September 2000 113.8 76.9 21.6 (19.9) 49.8 242.2 June 2000 78.0 136.6 242.5 (12.2) 25.2 470.1 Exceptional items September 2000 (3.6) (3.2) (0.5) - (0.5) (7.8) June 2000 (2.2) (110.7) (5.5) - (1.3) (119.7) Net earnings September 2000 110.2 73.7 21.1 (19.9) 49.3 234.4 June 2000 75.8 25.9 237.0 (12.2) 23.9 350.4

Capital Expenditure (Rand Million)

September 2000 62.2 85.5 21.5 0.4 1.4 42.8 213.8 June 2000 23.9 54.2 42.5 11.1 0.4 27.5 159.6 Planned for next 6 months to March 2001 233.8 199.5 83.3 6.2 2.5 18.0 543.3 * Ore milled at Driefontein includes 593 000 surface tons at 2.2 grams per ton (June 630 000 tons at 2.0 grams per ton) and underground operations yielding 9.7 grams per ton from 1 018 000 tons (June 877 000 at 10.2 grams per ton).

# Excludes the fair value adjustment from the merger of Driefontein and Gold Fields Limited.

11

US DOLLAR CONVERSIONUS DOLLAR CONVERSIONUS DOLLAR CONVERSIONUS DOLLAR CONVERSION

OPERATING AND FINANCIAL OPERATING AND FINANCIAL OPERATING AND FINANCIAL OPERATING AND FINANCIAL RESULTSRESULTSRESULTSRESULTS

Individual Mines

Operating Results Free State Division

Driefontein Division

Kloof Division Beatrix Oryx St Helena

Tarkwa TOTAL

Ore milled / treated (000 tons) * September 2000 1,611 977 688 200 244 2,265 5,985 June 2000 1,507 955 702 189 252 2,210 5,815 Yield (ounces per ton) September 2000 0.222 0.345 0.185 0.204 0.141 0.046 0.168 June 2000 0.219 0.339 0.177 0.266 0.138 0.037 0.162 Gold produced (000 ounces) September 2000 358.1 337.3 127.4 40.8 34.5 105.1 1,003.1 June 2000 329.7 323.7 124.4 50.2 34.7 81.0 943.7 Gold declared (000 ounces) September 2000 358.1 337.3 127.4 40.8 34.5 108.0 1,006.1 June 2000 329.7 323.7 124.4 50.2 34.7 78.3 941.0 Gold price received (US dollar per ounce) September 2000 276 277 276 277 276 279 277 June 2000 281 282 282 282 281 280 281 Cash costs (US dollar per ounce) September 2000 192 211 183 360 343 165 206 June 2000 200 214 175 269 318 172 207 Total production costs (US dollar per ounce) September 2000 213 228 198 391 351 196 226 June 2000 216 230 178 296 335 216 225 Operating costs (US dollar per ton) September 2000 45 77 36 75 50 7 36 June 2000 44 75 32 74 45 8 35

Financial Results (US$ Million) Unaudited

Revenue September 2000 98.9 91.2 35.2 11.3 9.5 30.1 276.1 June 2000 92.6 89.3 35.0 14.1 9.8 21.9 262.6 - Spot gold sales September 2000 98.9 91.2 35.2 11.3 9.5 30.1 276.1 June 2000 92.6 89.3 35.0 14.1 9.8 21.9 262.6 - Hedge profit September 2000 - - - - - - - June 2000 - - - - - - - Operating costs September 2000 73.2 73.1 24.6 15.0 12.3 16.7 214.9 June 2000 66.4 70.5 22.7 14.0 11.4 16.9 201.8 Operating profit September 2000 25.7 18.1 10.5 (3.7) (2.7) 13.4 61.2 June 2000 26.2 18.8 12.4 0.1 (1.6) 5.0 60.8 Amortisation of mining assets # September 2000 7.0 5.6 3.0 0.2 3.1 18.9

June 2000 7.4 5.2 1.6 0.4 3.4 18.1 Gold inventory change September 2000 - - - - 1.3 1.3 June 2000 - - - - (4.0) (4.0) Net operating profit September 2000 18.7 12.6 3.7 (2.9) 9.0 41.0 June 2000 18.7 13.7 10.8 (2.0) 5.6 46.8 Other income September 2000 0.7 0.7 0.5 0.1 (0.9) 1.0 June 2000 2.2 2.0 0.3 (0.1) (1.2) 3.2 Profit before taxation September 2000 19.4 13.3 4.2 (2.8) 8.0 42.1 June 2000 20.9 15.7 11.1 (2.1) 4.4 50.0 Mining and income taxation September 2000 3.1 2.3 1.1 - 0.9 7.4 June 2000 9.5 (4.2) (24.1) (0.3) 0.7 (18.4) - Normal taxation September 2000 1.9 0.3 - - 0.9 3.0 June 2000 10.1 2.6 - - 0.7 13.4 - Deferred taxation # September 2000 1.2 2.0 1.1 - - 4.4 June 2000 (0.6) (6.9) (24.1) (0.3) 0.1 (31.8) Earnings before exceptional items September 2000 16.3 11.0 3.1 (2.8) 7.1 34.6 June 2000 11.4 19.9 35.3 (1.8) 3.7 68.4 Exceptional items September 2000 (0.5) (0.5) (0.1) - (0.1) (1.1) June 2000 (0.3) (16.1) (0.8) - (0.2) (17.4) Net earnings September 2000 15.8 10.5 3.0 (2.8) 7.1 33.5 June 2000 11.0 3.8 34.5 (1.8) 3.5 51.0

Capital Expenditure (US$ Million)

September 2000 8.9 12.2 3.1 0.1 0.2 6.1 30.6 June 2000 3.5 7.9 6.2 1.6 0.1 4.0 23.2 Planned for next 6 months to March 2001 32.5 27.7 11.6 0.9 0.3 2.5 75.5 * Ore milled at Driefontein includes 593 000 surface tons at 2.2 grams per ton (June 630 000 tons at 2.0 grams per ton) and underground operations yielding 9.7 grams per ton from 1 018 000 tons (June 877 000 at 10.2 grams per ton).

Exchange rates applied are US$1 = R6.87 and US$1 = R6.99 for the June 2000 and September 2000 quarters respectively.

# Excludes the fair value adjustment from the merger of Driefontein and Gold Fields Limited. Figures may not add as they are rounded independently.

12

DEVELOPMENT RESULTSDEVELOPMENT RESULTSDEVELOPMENT RESULTSDEVELOPMENT RESULTS

Development values represent the actual results of sampling and no allowance has been made for any adjustments which may be necessary when estimating ore reserves. All figures below exclude shaft sinking meters

D r i e f o n t e i n

September 2000 quarter

June 2000 quarter

Reef Carbon

Leader Main M

Facies VCR Carbon

Leader Main M

Facies VCR

Advanced (m) 6,641 179 0 2,363 4,433 578 242 3,685

Advanced on reef (m) 1,556 23 0 274 951 245 202 730

Sampled (m) 1,359 33 0 198 860 206 150 540

Channel width (cm) 63 79 0 79 50 78 127 89

Average value - (g/t) 40 3 0 31 44 15 3 19

- (cm.g/t) 2,498 253 0 2,486 2,196 1,140 350 1,646

K l o o f September 2000

quarter June 2000

quarter

Reef Carbon Leader

Main Kloof VCR Carbon Leader

Main Kloof VCR

Advanced (m) 0 1,941 499 11,663 26 2,456 357 8,995

Advanced on reef (m) 0 446 170 1,747 0 587 401 1,207

Sampled (m) 0 306 153 1,309 0 510 445 768

Channel width (cm) 0 61 155 87 0 107 227 93

Average value - (g/t) 0 10 21 25 0 8 9 23

- (cm.g/t) 0 616 3,323 2,141 0 862 2,116 2,152

13

DEVELOPMENT RESULTSDEVELOPMENT RESULTSDEVELOPMENT RESULTSDEVELOPMENT RESULTS

B e a t r i x

September 2000 quarter

June 2000 quarter

Reef

Beatrix Beatrix

Advanced (m) 6,488 6,107

Advanced on reef (m) 1,525 1,591

Sampled (m) 1,341 1,509

Channel width (cm) 88 66

Average value - (g/t) 12 16

- (cm.g/t) 1,038 1,032

O r y x September 2000

quarter June 2000

quarter

Reef Kalkoenkrans Kalkoenkrans

Advanced (m) 4,944 3,974

Advanced on reef (m) 945 499

Sampled (m) 945 504

Channel width (cm) 94 117

Average value - (g/t) 12 10

- (cm.g/t) 1,147 1,163

S t H e l e n a

September 2000 quarter

June 2000 quarter

Reef Basal Leader Basal Leader Advanced (m) 1,480 7 1,254 98 Advanced on reef (m) 215 140 310 57 Sampled (m) 210 138 327 57 Channel width (cm) 80 93 89 56 Average value - (g/t) 15 2 13 7 - (cm.g/t) 1,232 188 1,134 400

14

NOTESNOTESNOTESNOTES

15

NOTESNOTESNOTESNOTES

16

CONTACT DETAILSCONTACT DETAILSCONTACT DETAILSCONTACT DETAILS

Corporate Office Gold Fields Limited 24 St Andrews Road Parktown Johannesburg 2193 Postnet Suite 252 Private Bag x 30500 Houghton 2041 Tel: +27 11 644-2400 Fax: +27 11 484-0626 London Office St James’ Corporate Services Limited 6 St James’ Place London SW1A 1 NP Tel: +944 207 499-3916 Fax: +944 207 491-1989

Directors C M T Thompson ✝ (Chairman) A J Wright (Deputy Chairman) I D Cockerill * (Managing Director) W E Bührmann NJ Holland * J M McMahon * G R Parker # P J Ryan B R van Rooyen CI von Christierson. ✝ Canadian * British # USA

Transfer Offices Johannesburg Computershare Services Limited Edura 40 Commissioner Street Johannesburg P O Box 61051Marshall town 2107 London IRG Bourne House 34 Beckenham Road Beckenham Kent BR3 4TU

Company Secretary Trevor K Savage 24 St Andrews Road Parktown Johannesburg 2193 Postnet Suite 252 Private Bag x 30500 Houghton 2041 Tel: +27 11 644-2400 Fax: +27 11 484-0626

American Depositary Receipt Banker Bank of New York 101 Barclay Street New York N.Y. 10286 USA Tel: +91 212 815-5133 Fax: +91 212 571-3050

Investor Relations Europe & South Africa Willie Jacobsz Tel: +27 11 644-2460 Fax: +27 11 484-0639 E-mail: investors@goldfields.co.za

United Kingdom 46 Berkley Street London W1X 6AA Tel: +944 207 322-6341 Fax: +944 207 322-6028

North America Cheryl A. Martin Tel: +91 303 796-8683 Fax: +91 303 796-8293 E-mail: camartin@gfexpl.com

FORWARD LOOKING STATEMENTS This report contains forward-looking statements. Such forward-looking statements include, without limitations, estimates of future:

1) earnings, 2) gold production, 3) production costs, and 4) cash flows.

Where the company expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Such risks include, but are not limited to, gold price volatility, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans.