GFI
GOGOF                                                                           
GFI - Gold Fields Limited - Moody`s changes Gold Fields Baa3 credit rating      
outlook to positive                                                             
Gold Fields Limited                                                             
(Reg. No. 1968/004880/06)                                                       
(Incorporated in the Republic of South Africa)                                  
("Gold Fields" or "the Company")                                                
JSE, NYSE, DIFX Share Code: GFI                                                 
ISIN Code: ZAE000018123                                                         
MEDIA RELEASE                                                                   
Moody`s changes Gold Fields Baa3 credit rating outlook to positive              
Johannesburg, 8 September 2011: Moody`s Investor Services ("Moody`s") today     
announced a change to Gold Fields Limited ("Gold Fields") (JSE, NYSE, NASDAQ    
Dubai: GFI) Baa3 rating outlook to positive from stable.                        
Moody`s said: "The change in outlook was mainly prompted by Gold Fields`        
continued progress in terms of further diversifying its production and EBITDA   
geographically and becoming less dependent on South Africa combined with our    
increased expectation that the company would also be able to maintain its       
conservative leverage of Net Debt to EBITDA below 1 time and positive free cash 
flow generation, even in a much lower gold price environment."                  
Since March 2009, Standard & Poor`s Ratings Services ("S&P") has maintained an  
investment grade rating on Gold Fields of BBB- with a stable outlook.           
Paul Schmidt, Chief Financial Officer of Gold Fields said: "We are pleased with 
the change in the rating outlook to positive by Moody`s. The change acknowledges
Gold Fields increasing international diversification, solid operating margins,  
low financial gearing and conservative financial policy as well as our robust   
cash flow generation.  We remain committed to maintaining our investment grade  
rating."                                                                        
ends                                                                            
Notes to editors                                                                
About Gold Fields                                                               
Gold Fields is one of the world`s largest unhedged producers of gold with       
attributable annualised production of 3.6 million gold equivalent ounces from   
eight operating mines in Australia, Ghana, Peru and South Africa. Gold Fields   
also has an extensive and diverse global growth pipeline with four major        
projects in resource development and feasibility, with construction decisions   
expected in the next 18 to 24 months.  Gold Fields has total attributable gold  
equivalent Mineral Reserves of 76.7 million ounces and Mineral Resources of     
225.4 million ounces. Gold Fields is listed on the JSE Limited (primary         
listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in 
Brussels (NYX) and the Swiss Exchange (SWX).                                    
Sponsor: J.P. Morgan Equities Limited                                           
Date: 08/09/2011 15:14:04 Produced by the JSE SENS Department.                  
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