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Gold/Mining/Energy : RANDGOLD and EXPLORATION (RANGY) -- Ignore unavailable to you. Want to Upgrade?

To: Giraffe who wrote (127)	11/10/1998 2:25:00 PM
From: Giraffe	Read Replies (1) \| Respond to of 448

Here's what I got back from the company in reply to my query: Following your enquiry about the Rangold ADR stock - herewith the announcement. If you require any additional information, please contact me on the above e-mail address or gold@dpa.co.za . Tel: +27(11) 728-4701 or fax +27(11) 728-2547/8 ADR ANNOUNCEMENT For immediate release ADR CONSOLIDATION FOR RANDGOLD Johannesburg, 10 November - Randgold & Exploration Company announced today that in compliance with the Nasdaq stock market's maintenance standards of a minimum bid price of $1, it had consolidated its Nasdaq-listed American Depositary Receipts (ADRs) on a three-for-one basis. The value of shareholders' holdings is expected to remain unchanged except for the elimination of fractional interests. As part of the consolidation process, Randgold's Nasdaq trading symbol has changed from RANGY to RANYD. ADR ANNOUNCEMENT RANDGOLD & EXPLORATION COMPANY Please be advised that effective open business November 9, 1998, Randgold & Exploration Company Ltd's ratio changed from one (1) ADR representing one (1) ordinary share to one (1) ADR representing three (3) ordinary shares. The ordinary shares will remain the same. The reason for the reverse split was that the share price was too low to remain listed on NASDAQ. The current symbol RANGY will temporarily change to RANYD for 30 days, after which it will return to RANGY. Holders of Randgold ADRs (CUSIP#: 753009 20 8) are requested to exchange these for "new" Randgold ADRs (CUSIP#: 753009 30 7). Holders will receive one "new" ADR for every three "old" ADRs that are presented for exchange. Please note that Randgold's 144A program (CUSIP 753009 10 9) WILL NOT be affected by this ratio change and will maintain a ratio of one(1) ADR representing one (1) ordinary share. Effective Date: November 9, 1998 Country of Incorporation: South Africa Local Custodian: Credit Agricole Indosuez-South Africa, Societe Generale South Africa Ltd., Nedcor Bank Limited, Standard Bank of South Africa Par Value: Rand 0.01 Ratio: 1:3 CUSIP Number: 753009307 Exchange: NASDAQ Symbol: RANYD for 30 days If you require any additional information please feel free to contact: New York Julio J. Lugo Vice President Tel:(212) 815-2175 Kind regards Kathy du Plessis du Plessis Associates kdp@dpa.co.za