59CK Qnb Fin 26

RNS No 1823b
NEW CENTRAL WITWATERSRAND AREAS LIMITED
12th October 1998


New Central Witwatersrand Areas Limited
Incorporated in the Republic of South Africa
Registration No. 05 04747 06

Interim results and dividend announcement
for the six months ended 30 September 1998
(unaudited)

ABRIDGED CONSOLIDATED INCOME STATEMENT

                                     Six          Six      
                                  months       months         Year
Figures in R000, unless            ended        ended        ended
otherwise stated                 30.9.98      30.9.97      31.3.98

Investment income                  3 062        2 834        5 197
Interest earned 
less administration 
expenses                              77           29          290
Grants - educational 
and welfare                          (55)         (46)         (49)
Net income before 
taxation                           3 084        2 817        5 438
Taxation                               -            -          (36)
Headline earnings                  3 084        2 817        5 402
Surplus on realisation 
of investments                         -        5 440        5 440
Total net earnings                 3 084        8 257       10 842
Earnings per share 
- cents
Headline earnings                  174,6        159,5        305,8
Total net earnings                 174,6        467,4        613,7
Dividends per share - cents        174,0        159,0        305,0


ABRIDGED CONSOLIDATED BALANCE SHEET

Figures in R000, unless               At           At           At
otherwise stated                 30.9.98      30.9.97      31.3.98

Shareholders' equity             113 235      131 569      113 538
Current liabilities                3 594        3 195        2 974
                                 116 829      134 764      116 512
Represented by:      
Investments                      109 956      126 531      109 045
Mineral rights
at nominal value of R1                 -            -            -
Cash resources                     6 458        7 871        6 285
Other current assets                 415          362        1 182
                                 116 829      134 764      116 512
Market value
of listed investments            109 956      126 531      109 045
Number of shares
in issue - 000                     1 766        1 766        1 766
Net asset value
per share - cents (after 
providing for the dividend and 
based on the market value 
of listed investments and 
mineral rights at nominal 
value at 30 September 1998).       6 411        7 448        6 428

STATEMENT OF SHAREHOLDERS' EQUITY

                                      At           At           At
Figures in R000                  30.9.98      30.9.97      31.3.98

Shareholders' equity             113 538      144 188      144 188
Movement in reserves                  10        5 448        5 454
Increase (decrease) in
market value of investments*        (313)     (18 067)    (36 104)
                                 113 235      131 569      113 538

* In accordance with recent developments in International Accounting
Standards, the company has restated its investments to market value with any
difference being reflected in the non-distributable reserves as part of
shareholders' equity.

YEAR 2000 DISCLOSURE

New Central Witwatersrand Areas Limited ("NCW") is an investment holding
company with no administrative infrastructure of its own. The company has been
informed by its holding company, Anglo American Corporation of South Africa
Limited ("AAC"), from which it obtains administrative and technical advisory
services, that AAC has implemented a strategy, in accordance with
international best practice, to achieve acceptable levels of Year 2000
compliance by June 1999.

Based on the assessment and information given by AAC to date, NCW does not
expect to encounter material operational difficulties and based on a
reasonable examination considers the risk to NCW of legal liability to be not
material.

NOTICE OF DIVIDEND

Dividend No. 66 of 174 cents per share has been declared payable on Friday, 4
December 1998 to shareholders registered at the close of business on Friday,
30 October 1998. The register of members will be closed from Saturday, 31
October 1998 to Saturday, 7 November 1998. The full conditions relating to the
dividend may be inspected at the Registered and London Offices of the company
and at the office of its transfer secretaries.

For and behalf of the Board
M W King
G R Pardoe      Directors

9 October 1998      

Registered Office:                     London Office:
44 Main Street                         19 Charterhouse Street
Johannesburg 2001                      London EC1N 6QP
South Africa                           England

The interim report has been posted to shareholders and is available from the
company's transfer secretaries, Consolidated Share Registrars Limited, 1st
Floor Edura, 41 Fox Street, Johannesburg 2001 as well as from the Registered
and London Offices of the company.

These results are also available on http://www.aac.co.za on the Internet.


END

IR FSIFMUUAUFLS

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