MVL
MVL                                                                             
MVL - Mvela Resources - Favourable Re-Financing Of Mezzanine Debt Secured       
MVELAPHANDA RESOURCES LIMITED                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1980/001395/06)                                            
Share code: MVL                                                                 
ISIN: ZAE000050266                                                              
("Mvela Resources")                                                             
FAVOURABLE RE-FINANCING OF MEZZANINE DEBT SECURED                               
Mvela Resources is pleased to announce that it has secured term funding for     
the re-financing of the Mezzanine Debt incurred in respect of the transaction   
with Gold Fields Limited ("Gold Fields") concluded in March 2004.               
The Mezzanine Debt falls due for redemption on 17 March 2009 and including the  
rolled up coupons, will total R2.024 billion on that date. On the same day      
Mvela Resources will receive 50 million shares in Gold Fields, which have an    
aggregate market value of over R6 billion on the date of this announcement.     
The funding secured has a term of up to 12 months and an estimated cost, at     
the date of this announcement, equivalent to 13.2 % per annum. This is less     
than the weighted coupon applicable to the Mezzanine debt.                      
ENDS                                                                            
Johannesburg                                                                    
16 March 2009                                                                   
Sponsor                                                                         
JP Morgan                                                                       
Date: 16/03/2009 17:00:02 Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.