ANGLOGOLD ASHANTI LIMITED - Output up 17%, Costs Improve on Record Safety Result

                                                      AngloGold Ashanti Limited

                                 (Incorporated in the Republic of South Africa)

                                                       Reg. No. 1944/017354/06)

                                  ISIN No. ZAE000043485 - JSE share code: ANG

                                         CUSIP: 035128206 - NYSE share code: AU

11 August 2014

NEWS RELEASE

AngloGold Output up 17%, Costs Improve on Record Safety Result

(JOHANNESBURG) - AngloGold Ashanti reported a 17% increase in production for
the second quarter compared with the same period a year earlier, as its two new
mines continued to contribute lower-cost ounces, and a strong safety
performance helped its South Africa operations improve their contribution.

The overall result for the company showed significant improvement in all key
areas. In the second quarter, compared with the corresponding period a year
earlier, production rose 17%, all-in sustaining costs fell 19%, corporate and
marketing costs were down 65%, exploration and evaluation costs were 58% lower,
capital expenditure down 44%, all-in costs down 29% and EBITDA up 33%. These
results helped turn around a cash burn of $488m in the second quarter of 2013,
to a positive cash flow of $34m, notwithstanding a $132/oz drop in the gold
price.

"This is another strong result for us, with growth in production and lower
costs across the board," Chief Executive Officer Srinivasan Venkatakrishnan,
said. "But it's the continued improvement in safety that we're most proud of,
and where we intend to do better still."

No fatalities were reported during the quarter for the third time in AngloGold
Ashanti's history and the first time since 2010. In all, 11 of AngloGold
Ashanti's operations reported no lost time injuries during the quarter, while
eight have kept a clean record for the year. The all-injury frequency rate for
the quarter improved 10% from a year earlier to the best-ever level of 6.79 per
million hours worked. Records were set on all other key safety metrics.

Production for the three months to June 30 was ahead of guidance, while costs
were at the lower end of the indicated range. Gold production for the quarter
was 1.098Moz at a total cash cost of $836/oz, compared with 935,000oz at a
total cash cost of $898/oz in the corresponding three-month period of 2013. In
May, AngloGold Ashanti had provided guidance for the second quarter of 1.05Moz
to 1.08Moz at a total cash cost of $850/oz to $870/oz.

AngloGold Ashanti, which plans to grow production this year for the first time
in almost a decade, has made significant cuts to overhead costs and also
realised significant savings in operating expenditure and capital expenditure,
as it seeks to improve free cash flow and returns. At the same time, AngloGold
Ashanti has posted a record safety performance. The company is investing in a
targeted exploration programme and technologies to improve underground
productivity on its South African mines, which account for roughly 28% of total
production.

The company reported an adjusted headline loss of $4m. When adjusted for
extraordinary items, such as redundancy costs at its Obuasi mine in Ghana
($27m) and closure costs of assets including the Yatela mine in Mali ($27m),
the normalised adjusted headline earnings was $76m, or 19 cents a share.

The South Africa region posted production at 319,000oz, 4% higher year-on-year,
at an all-in sustaining cost of $1,064/oz, which was 12% lower than a year
earlier. The all-in-sustaining cost measurement includes total cash costs, plus
corporate and exploration costs and capital expenditure required to sustain
operations. AngloGold Ashanti's international operations posted a 24% rise in
gold production to 779,000oz at an all-in sustaining cost of $1,033/oz, which
was 19% lower year-on-year.

The strong operating result helped drive a 140% improvement in cash inflow from
operating activities to $336m for the quarter compared to the year-earlier
period, despite a 9% decline in the gold price.

ENDS

Sponsor to AngloGold Ashanti

UBS South Africa (Pty) Limited

Contacts

Media

Chris Nthite                     +27 (0) 11 637    cnthite@anglogoldashanti.com
                                 6388/+27 (0) 83
                                 301 2481

Stewart Bailey                   +27 81 032 2563 / sbailey@anglogoldashanti.com
                                 +27 11 637 6031

General inquiries                                  media@anglogoldashanti.com

Investors

Stewart Bailey           +27 81 032     sbailey@anglogoldashanti.com
                         2563 / +27 11
                         637 6031

Sabrina Brockman (US &   +1 (212) 858   sbrockman@anglogoldashanti.com
Canada)                  7702 / +1 646
                         379 2555

Fundisa Mgidi (South     +27 11 6376763 fmgidi@anglogoldashanti.com
Africa)                  / +27 82 821
                         5322

Certain statements contained in this document, other than statements of
historical fact, including, without limitation, those concerning the economic
outlook for the gold mining industry, expectations regarding gold prices,
production, cash costs, all-in sustaining costs, cost savings and other
operating results, return on equity, productivity improvements, growth
prospects and outlook of AngloGold Ashanti's operations, individually or in the
aggregate, including the achievement of project milestones, commencement and
completion of commercial operations of certain of AngloGold Ashanti's
exploration and production projects and the completion of acquisitions and
dispositions, AngloGold Ashanti's liquidity and capital resources and capital
expenditures and the outcome and consequences of any potential or pending
litigation or regulatory proceedings or environmental, health, and safety
issues, are forward-looking statements regarding AngloGold Ashanti's
operations, economic performance and financial condition. These forward-looking
statements or forecasts involve known and unknown risks, uncertainties and
other factors that may cause AngloGold Ashanti's actual results, performance or
achievements to differ materially from the anticipated results, performance or
achievements expressed or implied in these forward-looking statements. Although
AngloGold Ashanti believes that the expectations reflected in such
forward-looking statements and forecasts are reasonable, no assurance can be
given that such expectations will prove to have been correct. Accordingly,
results could differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in economic, social and
political and market conditions, the success of business and operating
initiatives, changes in the regulatory environment and other government
actions, including environmental approvals, fluctuations in gold prices and
exchange rates, the outcome of pending or future litigation proceedings, and
business and operational risk management. For a discussion of such risk
factors, refer to AngloGold Ashanti's annual report on Form 20-F for the year
ended 31 December 2013 which was filed with the United States Securities and
Exchange Commission ("SEC") on 14 April 2014. These factors are not necessarily
all of the important factors that could cause AngloGold Ashanti's actual
results to differ materially from those expressed in any forward-looking
statements. Other unknown or unpredictable factors could also have material
adverse effects on future results. Consequently, readers are cautioned not to
place undue reliance on forward-looking statements. AngloGold Ashanti
undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, except to the
extent required by applicable law. All subsequent written or oral
forward-looking statements attributable to AngloGold Ashanti or any person
acting on its behalf are qualified by the cautionary statements herein.

This communication may contain certain "Non-GAAP" financial measures. AngloGold
Ashanti utilises certain Non-GAAP performance measures and ratios in managing
its business. Non-GAAP financial measures should be viewed in addition to, and
not as an alternative for, the reported operating results or cash flow from
operations or any other measures of performance prepared in accordance with
IFRS. In addition, the presentation of these measures may not be comparable to
similarly titled measures other companies may use. AngloGold Ashanti posts
information that is important to investors on the main page of its website at
www.anglogoldashanti.com and under the "Investors" tab on the main page. This
information is updated regularly. Investors should visit this website to obtain
important information about AngloGold Ashanti.

AngloGold Ashanti Limited

Incorporated in the Republic of South Africa Reg No: 1944/017354/06

ISIN No. ZAE000043485 - JSE share code: ANG CUSIP: 035128206 - NYSE share code:
AU

Website: www.anglogoldashanti.com

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