50NT Hsbc Bk. 25

RNS No 1477q
GOLD FIELDS LIMITED
15 October 1999

Gold Fields Limited Repurchases its Hedges

Johannesburg, 15 October 1999: Gold Fields Limited today announced that it had
completed the repurchase of its gold hedge position.

Chris Thompson, Chairman and Chief Executive Officer of Gold Fields, said;
"Having looked at the fundamentals of the current gold market and the
implications of the Ashanti situation, it seems inevitable to us that higher,
if not much higher, gold prices are possible. Accordingly it seemed prudent to
retrieve our hedge positions."

All forward obligations, save for 200 000 ounces of forward sales attributable
to Gold Fields Ghana Limited (71% owned), have been closed out. These forwards
have been left in place to cover potential debt covenant obligations required
by lenders to the Tarkwa project.

Gold Fields continues to hold approximately 660 000 ounces of Rand-gold call
options at an average strike price of R2 171 per ounce. These mature in
September 2001. In addition 50 000 ounces of put options, acquired at a strike
price of US$270 per ounce, have been maintained. These expire in November
2000.

At a gold price of US$313 per ounce and a Rand/Dollar exchange rate of R6.10,
the outstanding Rand-gold call options have a mark to market value of US$8.6
million. This compares to the net cost of some US$3.0 million incurred to re
purchase the hedge position.

"At higher gold prices the restrictive impact on our balance sheet and the
drag on earnings from a continued hedge position would limit our ability to
make acquisitions and develop new deposits", said Thompson.

Prior to commencing the hedge re purchase, Gold Fields' position was 1.8
million ounces, comprised of a mix of forward sales and call option
obligations.

Gold Fields Limited is the second largest gold producer in the world with four
million ounces of gold production per annum, 145 million ounces of mineral
resources and almost 73 million ounces of mineral reserves. Gold Fields trades
on the Johannesburg Stock Exchange under the symbol GFI and on Nasdaq under
the symbol GOLD. The company is also listed on the London, Paris and Swiss
Stock Exchanges and trades on the Brussels Stock Exchange through an
International Depository Receipt programme.


Enquiries:

South Africa   Willie Jacobsz, 
Tel: 2711 644-2460  Fax: 2711 484-0639                           
E-mail:investors@goldfields.co.za

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


Europe    Keith D Irons,
Tel: 0171 220 7477  Fax: 0171 220 7211
E-mail:keith@bankside.com

END

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