Audit state : Unaudited

Report for period ended : Saturday, March 31, 2012 12:00 AM

MEDIA RELEASE

ANNUAL RESERVE DECLARATION OF 80.6 MILLION OUNCES REFLECTS GREATER TECHNICAL AND GLOBAL DIVERSIFICATION

Johannesburg, 17 May 2012, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the March quarter of R2,082 million compared with R2,605 million in the December quarter and R1,100 million in the March 2011 quarter. In US dollar terms net earnings for the March quarter were US$268 million, compared with US$336 million in the December quarter and US$158 million in the March 2011 quarter.

March 2012 quarter salient features:

·       Group attributable equivalent gold production of 827,000 ounces;

·       Total cash cost of US$870 per ounce;

·       Operating margin of 48 per cent and NCE margin of 24 per cent; and

·       Project pipeline continues to advance.

Statement by Nick Holland, Chief Executive Officer of Gold Fields:

During the quarter, we regrettably had four fatal accidents at our South African operations. Safety and health remains the most important value in our Group and we will continue, in partnership with the Safety Inspectorate of the Department of Mineral Resources and with organised labour, to focus our efforts on improving our safety performance. Five key areas can lead to sustainable improvements in safety: engineering out risk; ensuring compliance with standards and procedures; improving the health of employees; continuous stakeholder engagement; and behavioural based safety initiatives.

In the March 2012 quarter, Gold Fields reported attributable Group production of 827,000 gold equivalent ounces, similar to the corresponding quarter a year ago (Q1 2011: 830,000 gold equivalent ounces) and 6 per cent lower than in the December 2011 quarter of 883,000 ounces. Production was seasonally lower in the March quarter as it includes the extended Christmas break. Despite the lower production, net earnings remained robust benefiting from a stable gold price combined with continued sound cost control.

Attributable gold production for the year ending December 2012 is expected to be approximately 3.5 million equivalent ounces. 

The Group NCE increased by 2 per cent from R313,286 per kilogram (US$1,206 per ounce) in the December quarter to R319,835 per kilogram (US$1,280 per ounce) in the March quarter. This increase was as a result of higher operating costs and lower production, partially offset by lower capital expenditure. The Group reported a NCE margin of 24 per cent for the March 2012 quarter, which was above the short term objective of 20 per cent and broadly in line with the longer term target of 25 per cent.

The March quarter saw steady progress on all of our growth projects. The most significant development being the US$110 million payment made on 20 March 2012 to exercise our option to acquire a 40 per cent interest in the Far Southeast project in the Philippines. The decision to exercise the option earlier than originally planned was linked to positive results from our due diligence and scoping studies at Far Southeast. A pre-feasibility study, including a significant 100,000 metre drilling programme, has commenced, and will concentrate on infill-drilling the exploration target zone to a level appropriate for resource declaration. We still have the option to acquire an additional 20 per cent stake from Lepanto Consolidated Mining Company for US$110 million.

In Peru, the Chucapaca feasibility study is progressing well, with particular emphasis on optimising recoveries, plant design as well as permitting requirements. The study remains on track for completion in the second half of 2012. The Environmental Impact Assessment (EIA) is underway, with submission planned following completion of the feasibility study. Extensive community engagement programmes and activities are continuing. 

At the Arctic Platinum project in Finland, activities during the quarter included: resource drilling on the Suhanko North prospect, which has the potential to add meaningful additional tonnes of PGE mineralisation to the original Suhanko project of 140 million tonnes; associated metallurgical test work; and the completion and review of the amendment to the Suhanko Environmental Permit to incorporate the Platsol hydro-metallurgical process was submitted at the end of March 2012. An additional EIA and mining lease application is expected to be submitted later in 2012 to cover Suhanko North and other nearby deposits. Our aim is to complete a pre-feasibility study on the expanded project, including Suhanko North, by the end of 2012.   

At the Damang Super-pit project in Ghana, all drilling activities were completed and resource models finalised for execution of the pre-feasibility study. All other activities, including engineering and environmental work are scheduled for completion along with the pre-feasibility study in the second half of 2012. The impact on the project of recently gazetted tax changes, increasing the tax rate from 25 to 35 per cent and the imposing of less favourable capital allowances on the project, are being assessed.

During the quarter we published our Integrated Annual Report for 2011, which includes our latest Mineral Resource and Reserve Statement. Gold Fields has total attributable precious metal and gold equivalent Mineral Reserves of 80.6 million ounces, a 5 per cent increase in reserves after taking into account the inventory mined during 2011. The Mineral Resource position in the West Africa region increased by 46 per cent from 17.3 million ounces to 25.2 million ounces, net of depletion, largely due to discoveries at the Greater Damang project. The total Mineral Reserve in the West Africa region has increased by 21 per cent, from 11.3 million ounces to 13.7 million ounces, net of mine depletion. In the South American region, Cerro Corona’s total gold equivalent Mineral Reserve base improved by 15 per cent, from 5.3 million ounces to 6.1 million ounces, net of depletion, primarily due to the increase in the capacity of the tailings storage facility from 99 million tonnes to 130 million tonnes. The improved Mineral Reserve position is in line with our long-term target of 5 million gold-equivalent ounces per year either in production or in development by the end of 2015.

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 3.5 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 80.6 million ounces and Mineral Resources of 217 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

(a closed-ended investment company incorporated in Guernsey

with registration number 48555)

Partial Return of Capital

Further to the announcement made on 16 February 2012, documents regarding the Company’s 2012 partial return of capital will be sent to shareholders shortly. 

The record date for participation in the partial capital return will be 5.00 p.m. (London time) on 31 May 2012.   Shareholders who elect to convert shares between currency classes on the 31 May 2012 share conversion date pursuant to the Company’s share conversion provisions will not be eligible to participate in the partial capital return in respect of those shares.

Further details regarding the partial capital return will be included in the documents which are sent to shareholders.

Enquiries:

Company website:      www.bhglobal.com

Rose Toussaint

Northern Trust International Fund Administration Services (Guernsey) Limited

Company Secretary

Tel: +44 (0) 1481 745381

(a closed-ended investment company incorporated in Guernsey

with registration number 46235)

Partial Return of Capital

Further to the announcement made on 16 February 2012, documents regarding the Company’s 2012 partial return of capital will be sent to shareholders shortly. 

The record date for participation in the partial capital return will be 5.00 p.m. (London time) on 31 May 2012.   Shareholders who elect to convert shares between currency classes on the 31 May 2012 share conversion date pursuant to the Company’s share conversion provisions will not be eligible to participate in the partial capital return in respect of those shares.

Further details regarding the partial capital return will be included in the documents which are sent to shareholders.

Enquiries:

Company website:      www.bhmacro.com

Rose Toussaint

Northern Trust International Fund Administration Services (Guernsey) Limited

Company Secretary

Tel: +44 (0) 1481 745381

(a closed-ended investment company incorporated in Guernsey with registration number 46235)

Weekly Announcement of Estimated Net Asset Values

As at the close of business on 11^th May 2012 the estimated Net Asset Values of each class of the Company’s shares are as follows:  

The Net Asset Value figures in this announcement are an estimate, and are based on unaudited estimated valuations. The final month-end Net Asset Value may be materially different from these estimated weekly values, and should only be taken as indicative values which have been provided for information only and no reliance should be placed on them. Estimated results, performance or achievements may differ materially from any actual results, performance or achievements. Except as required by applicable law, the Company expressly disclaims any obligations to update or revise such estimates to reflect any change in expectations, new information, subsequent events or otherwise.

This document is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

The MTD performance figures are calculated by reference to the previous estimated month end NAV or, if published, the previous month end confirmed NAV. The YTD performance figures are calculated by reference to the NAV at the end of the last calendar year. MTD and YTD performance figures are based on the NAV per share calculated to four decimal places.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Harry Rouillard         44 (0)1481 745315

Date: 15 May 2012

Audit state : Unaudited

Report for period ended : Saturday, March 31, 2012 12:00 AM

On May 8, 2012, NASDAQ OMX filed its quarterly report on Form 10-Q for the quarter ended March 31, 2012, with the U.S. Securities and Exchange Commission. The Form 10-Q can be accessed on NASDAQ OMX's website at http://ir.nasdaqomx.com/sec.cfm and on the SEC's website at http://www.sec.gov.

(a closed-ended investment company incorporated in Guernsey with registration number 48555)

Weekly Announcement of Estimated Net Asset Values

As at the close of business on 11^th May 2012 the estimated Net Asset Values of each class of the Company’s shares are as follows:  

The Net Asset Value figures in this announcement are an estimate, and are based on unaudited estimated valuations. The final month-end Net Asset Value may be materially different from these estimated weekly values, and should only be taken as indicative values which have been provided for information only and no reliance should be placed on them. Estimated results, performance or achievements may differ materially from any actual results, performance or achievements. Except as required by applicable law, the Company expressly disclaims any obligations to update or revise such estimates to reflect any change in expectations, new information, subsequent events or otherwise.

This document is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

The MTD performance figures are calculated by reference to the previous estimated month end NAV or, if published, the previous month end confirmed NAV. The YTD performance figures are calculated by reference to the NAV at the end of the last calendar year. MTD and YTD performance figures are based on the NAV per share calculated to four decimal places.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Harry Rouillard         44 (0)1481 745315

Date: 15 May 2012

Presentation Details:

            When:             Monday, May 21

Time:              4:00 p.m. Pacific / 7:00 p.m. Eastern

            Webcast:          http://www.netsoltech.com/IR/event-presentation.php

            Archived:        90 days

For qualified investors not attending the conference and wishing to meet with management, please contact investor relations at 310-279-5980.

About NetSol Technologies

NetSol Technologies, Inc. (www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol’s product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company’s clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh.

Investors can receive news releases and invitations to special events by accessing our online signup form at http://www.netsoltech.com/IR/signupform.php

###

(Reg. No. 1968/004880/06)

(Incorporated in the Republic of South Africa)

(“Gold Fields” or the “Company”)

JSE, NYSE, NASDAQ Dubai - Share Code: GFI

NYX Code: GFLB, and SWX Code: GOLI

ISIN: ZAE000018123

RESULTS OF ANNUAL GENERAL MEETING (AGM)

Shareholders are advised that all the ordinary resolutions and the special resolutions were duly passed by the requisite majority of votes at the Company’s Annual General Meeting held on Monday, 14 May 2012, at 09h00. Over 84% of votable shares were represented at the AGM.

At the meeting the Company modified ordinaryresolution number 12(Approval for the issue of authorised but unissued ordinary shares) and ordinary resolution number 13 (Approval for the issue of equity securities for cash), pursuant to the right to do so as contained in the Notice of the Meeting, by reducing the percentages of the total issued share capital which it was asking shareholders to approve from 10% to 5%.

14 May 2012

Sponsor: J.P. Morgan Equities Limited

Damas enters into joint venture agreement with Tiffany & Co.

Dubai , UAE (May 14, 2012): Damas International Limited (“Company”), through its subsidiary, has entered into a joint venture arrangement with Tiffany & Co. (“Tiffany”).

The main objective of the arrangement is to secure continued cooperation between the Company and/ or its subsidiary and Tiffany in respect of the distribution of Tiffany products within the UAE.

-          Ends –

FOR IMMEDIATE RELEASE

13 May 2012

RECOMMENDED CASH BID
by
GOLDEN INVESTMENTS LIMITED ("BidCo")
(a company controlled by Mannai Corporation QSC ("Mannai") and EFG Capital Partners Management Limited ("EFG Hermes"))
for
DAMAS INTERNATIONAL LIMITED ("DIL")

Delisting of DIL Shares – Correction

In the announcement made earlier today in relation to the delisting of the DIL Shares, the reference in the paragraph headed "Delisting" to "Rule 40 of the Listing Rules of NASDAQ Dubai" should have been to "Listing Rule 40, Appendix 6.1 of the Offered Securities Rules of the DFSA Rulebook". 

---- ENDS ---

MARGIN PARAMETER

Any revision to the margin parameters are marked with an asterisk (*) and are as follows

Admitted Derivatives Contracts

Index Futures

Admitted Financial Instruments

Equity Margin rate

** Members are requested to refer to the Delivery Capacity Notice (Notice No.11/06)

⁺ Reflects the approximate margin rate used to compute weekly Scanning Range based on the underlying’s closing price on the date of notice issue.

General Notes : Corporate actions in the futures are denoted in the codes as:-

X: denotes one corporate action on a security

FOR IMMEDIATE RELEASE

13 May 2012

RECOMMENDED CASH BID
by
GOLDEN INVESTMENTS LIMITED ("BidCo")
(a company controlled by Mannai Corporation QSC ("Mannai") and EFG Capital Partners Management Limited ("EFG Hermes"))
for
DAMAS INTERNATIONAL LIMITED ("DIL")

Bid Update – Delisting of DIL Shares

On 5 April 2012, BidCo made a recommended cash bid for the entire issued and to be issued share capital of DIL (the "Bid") at a price of US$0.45 in cash for each DIL Share. 

Capitalised terms used but not defined in this announcement have the same meaning as in the bid document dated 5 April 2012 (the "Bid Document").

Levels of acceptances of the Bid

As at 9.00 a.m. (Dubai time) on 13 May 2012, BidCo had received valid acceptances of the Bid in respect of 878,986,546 DIL Shares, representing approximately 88.86 per cent. of the issued share capital of DIL. 

The Bid will remain open for acceptance until 2.00 p.m. (Dubai time) on 24 May 2012. A further announcement regarding acceptance levels at that date will be made on 25 May 2012.

Delisting

As holder of over 75 per cent. of the voting rights attaching to the issued share capital of DIL, BidCo has approved the delisting of DIL and DIL has accordingly applied for, and received, a waiver in respect of Rule 40 of the Listing Rules of NASDAQ Dubai to shorten the notice period and permit BidCo to approve the delisting without the requirement to hold a general meeting. Further to this waiver, BidCo hereby gives notice that the cancellation of the listing of the DIL Shares on the Official List of Securities of NASDAQ Dubai and the cancellation of the trading of the DIL Shares on NASDAQ Dubai will take effect from 12 June 2012.

As explained in the Bid Document, delisting will significantly reduce the liquidity and marketability of any DIL Shares not assented to the Bid. Accordingly, DIL Shareholders who have not yet accepted the Bid are encouraged to do so before 2.00p.m. (Dubai time) on 24 May 2012, when the Bid is due to close (unless otherwise extended at BidCo's sole discretion).

Squeeze-out

As stated in the Bid Document, once BidCo has received valid acceptances of the Bid in respect of 90 per cent. or more of the DIL Shares to which the Bid relates, BidCo intends to exercise its rights pursuant to Article 75 of the Companies Law to acquire compulsorily the remaining DIL shares on the same terms as the Bid.

Acceptance procedure

If you are a DIL Shareholder, to accept the Bid in respect of your DIL Shares, you should complete and return a Letter of Transmittal to Deutsche Bank AG Dubai (DIFC) branch, acting as Tender Agent, in accordance with the procedures for acceptance set out in the Bid Document as soon as possible and, in any event, so as to be received by no later than 2.00 p.m. (Dubai time) on 24 May 2012.

If you are in any doubt as to how to accept or need additional copies of the Bid Document or Letter of Transmittal, please contact Faye Mulvaney at Deutsche Bank on +971 (0)4 428 3921 or at faye.mulvaney@db.com

Further information

The Bid Document is available on the websites of Mannai (www.mannai.com) and DIL (www.damasjewel.com), subject to certain restrictions relating to persons resident in Australia, Canada, Japan or any other Restricted Jurisdiction.

The Consortium and BidCo have been advised in relation to the Bid by EFG Hermes UAE Limited as financial adviser, Clifford Chance LLP as legal counsel and KPMG as financial due diligence adviser. Mannai and EFG Hermes have also received independent legal advice from Clifford Chance LLP and Freshfields Bruckhaus Deringer respectively. Deutsche Bank AG Dubai (DIFC) branch is acting as cash confirmation bank, tender agent and settlement agent.

DIL has been advised in relation to the Bid by Nomura International plc (Dubai branch) as financial adviser and Ashurst LLP as legal counsel.  Nomura International plc (Dubai branch) has received legal advice from Allen & Overy LLP.

Enquiries to:

Neither the DFSA nor any other listing authority or equivalent has approved this announcement nor taken steps to verify the information set out in it, and neither the DFSA nor any other listing authority has any responsibility for it.

EFG Hermes UAE Limited, which is authorised and regulated by the DFSA, is acting as financial adviser to BidCo and no one else in connection with the contents of this announcement and the Bid and will not be responsible to anyone other than BidCo for providing the protections afforded to clients of EFG Hermes UAE Limited nor for giving advice in relation to the Bid or any other matter or arrangement referred to in this announcement.

Deutsche Bank AG Dubai (DIFC) branch, which is authorised and regulated by the DFSA, is acting as cash confirmation bank, tender agent and settlement agent for BidCo and no one else in connection with the contents of this announcement and the Bid and neither Deutsche Bank AG Dubai (DIFC) branch nor any of its affiliates will be responsible to anyone for giving advice in relation to the Bid or any other matter or arrangement referred to in this announcement. Neither Deutsche Bank AG Dubai (DIFC) branch nor its affiliates shall be responsible for providing the protections afforded to clients of Deutsche Bank AG Dubai (DIFC) branch to any person other than BidCo.

Nomura International plc (Dubai Branch), which is authorised and regulated by the DFSA, is acting as financial adviser exclusively for DIL and no one else in connection with the contents of this announcement and the Bid and will not be responsible to anyone other than DIL for providing the protections afforded to clients of Nomura International plc (Dubai Branch) nor for giving advice in relation to the Bid or any other matter or arrangement referred to in this announcement.

This announcement is not intended to, and does not, constitute or form part of any offer to sell or invitation to purchase or subscribe for any securities pursuant to the Bid or otherwise. The Bid is made solely by the Bid Document, which contains the full terms and conditions of the Bid including details of how it may be accepted.

Any acceptance or other response to the Bid should be made only on the basis of information contained in the Bid Document despatched on 5 April 2012.

This announcement has been prepared in accordance with, and the Bid is subject to, the applicable rules and regulations of the DFSA and the laws of the DIFC. Any persons who are subject to the laws of, or residents of, any jurisdiction other than the DIFC, the United Kingdom and the United States should inform themselves about, and observe, any applicable requirements. If you remain in any doubt, you should consult your professional adviser in the relevant jurisdiction without delay.

The Bid is not being made, directly or indirectly, in or into or by the use of the mails of, or by any other means or instrumentality (including, without limitation, electronic mail, facsimile transmission, telex, telephone, internet or other forms of electronic communication) of interstate or foreign commerce of, or any facility of a national state or other securities exchange of Australia, Canada or Japan or any other Restricted Jurisdiction and will not be capable of acceptance by any such use, means, instrumentality or facility or from within Australia, Canada or Japan or any other Restricted Jurisdiction. Accordingly, copies of this announcement and all documents relating to the Bid are not being, and must not be, directly or indirectly, mailed, otherwise distributed or sent in, into or from Australia, Canada or Japan or any other Restricted Jurisdiction and persons receiving this announcement (including, without limitation, custodians, nominees and trustees) must not mail or otherwise distribute or send it in, into or from such jurisdiction.

Nothing in this announcement is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per DIL Share for the current or future financial years will necessarily match or exceed the historical published earnings per DIL Share.

Forward‑looking statements

This announcement, including information included or incorporated by reference in this announcement, may contain "forward‑looking statements" concerning the Bid, BidCo, BidCo Group and DIL.  Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward‑looking statements. The forward‑looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or suggested in them. Many of these risks and uncertainties relate to factors that are beyond the ability of BidCo, BidCo Group and DIL to control or estimate precisely, such as future market conditions and the behaviours of other market participants, and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. BidCo, BidCo Group and DIL assume no obligation in respect of, and do not intend to update or revise publicly, any of the forward‑looking statements, except as required pursuant to applicable law.

---- ENDS ---

CONTRACT SERIES LIST FOR NASDAQ DUBAI LISTED EQUITY DERIVATIVES

NASDAQ Dubai Contract Series List

The following August 2012 Contract Series for equity derivative products will be available for trading as of May 10^th, 2012:

This NASDAQ Dubai Notice will be available on the website at www.nasdaqdubai.com

Audit state : Unaudited

Report for period ended : Saturday, March 31, 2012 12:00 AM

NetSol Technologies, Inc. filed its report for the period ended March 31, 2012 on U.S. SEC form 10-Q.