1st Dec 2005 10:00
Anglo American PLC01 December 2005 News Release 1 December 2005 Anglo American plc notification: De Beers Press Release Anglo American plc wishes to draw attention to an announcement made by De Beers,attached hereto. MEDIA RELEASE 30 November 2005 It was announced today that agreement has been reached, and a preliminaryapproval order issued, to settle the majority of civil class action suits filedagainst De Beers in the United States. This settlement does not involve anyadmission of liability on the part of De Beers and will bring an end to a numberof outstanding disputes. "We believe that settling these suits is the most sensible and responsiblecourse of action for the company to take. It is consistent with the other stepswe have taken in both the US and Europe to restructure and modernise both ouroperations and business model, and is in the best interests of De Beers'partners and stakeholders in southern Africa and elsewhere in the world" saidGary Ralfe, De Beers Managing Director. "With this settlement behind us, De Beers can now focus greater attention andresources on being a leader in all of our markets and playing a leading role toaddress humanitarian issues such as the fight against HIV/AIDS. We will continueto work on these issues in consultation with the international community", headded. The settlement is subject to final approval by the Honourable Stanley R.Chesler, District Court Judge for the United States District Court for theDistrict of New Jersey. De Beers hopes that the settlement will be approvedduring 2006. De Beers believes that a successful conclusion to these suits will allow thecompany to more effectively pursue its global interests by removing the cost,risk, reputational impact and distraction from the company's core activitiesrequired to defend multiple class actions and possible further litigation. We do not wish to comment or speculate on the approval process itself, or theissues under consideration by the court. Therefore, for the time being, we havenothing further to add to this statement. Contact: Lynette Hori Tel: +44 207 430 3509 Cell: +44 7740 393 260 Rory More O'Ferrall Tel: +44 207 430 3126 Cell: +44 7803 503 522 ../... Note to Editors The settlement agreements relate to claims brought by a nationwide class ofindirect purchasers in Sullivan v. DB Investments, INC., et. al., Hopkins v. DeBeers Centenary AG, et. al, Cornwell v. D.B. Investments, Inc., and Null v. DBInvestments, et. al. for $250 million. It is important to note that the settlement of the US class action litigationsagainst the international business of De Beers will not be financed from, norwill it have any material impact on, any of the company's mining operations insouthern Africa. Indeed, we believe that the settlement will be beneficial to DeBeers' partners and stakeholders in southern Africa as well as elsewhere in theworld. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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