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Forward looking statements

Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934.

Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability, terms and deployment of capital or credit; changes in government regulations, particularly environmental regulations and new legislation affecting mining and mineral rights; changes in exchange rates, currency devaluations, inflation and other macro-economic factors; industrial action; temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document.

The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.

JOHANNESBURG. 11 August 2011, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the June quarter of R1,267 million compared with R1,100 million in the March quarter and earnings of R900 million in the June 2010 quarter. In US dollar terms net earnings for the June quarter were US$186 million, compared with US$158 million in the March quarter and earnings of US$120 million in the June 2010 quarter.
June 2011 quarter salient features:
• Group attributable equivalent gold production of 872,000 ounces, 5 per cent higher than the March quarter;
• Total cash cost of R177,934 per kilogram (US$816 per ounce);
• NCE margin constant at 21 per cent;
• Programme to acquire minorities in Peru and Ghana completed; and
• 5 year US$1 billion loan facility secured.
Interim dividend of 100 SA cents per share is payable on 5 September 2011.
Statement by Nick Holland, Chief Executive Officer of Gold Fields:

“Gold Fields had earnings growth of 15 per cent to R1,267 million against a gold price increase of 5 per cent. Production increased by 5 per cent to 872,000 gold equivalent ounces compared with the March 2011 quarter, despite unscheduled production interruptions at St Ives in Australia and at KDC in South Africa, as well as the six public holidays in South Africa.

Costs during the June quarter were impacted by the annual increase in electricity tariffs in South Africa compounded by seasonallyadjusted winter tariffs. Despite this the Group managed to contain net operating costs to R5.1 billion, an increase of 5 per cent on the March quarter, with all four Regions benefitting from the Business Process Re-engineering (BPR) programme introduced in the second half of 2010. Excluding the effects of the electricity tariff hikes, which accounted for R180 million (US$27 million) of the cost increase during the June quarter, net operating costs would have risen by a mere 1 per cent. The NCE margin for the June quarter was maintained at 21 per cent compared with the March quarter. For the six months ended June 2011 the NCE margin improved to 21 per cent compared with a 14 per cent NCE margin for the same period last year, with the improvement largely attributable to the 25 per cent rise in the dollar gold price over the same period.

Safety remains our single most important operational challenge, particularly in the South Africa region where we regrettably recorded seven fatal injuries during the June quarter. This brings the total number of fatalities for the first six months of the year to 13 compared with 11 fatalities during the previous six months. We are concerned that, following three years of consistent and significant improvements in safety at our South African mines, the trend has levelled off. We remain committed to improving safety with an immediate focus on interventions to engineer-out risk, improve compliance to standards, and bring about further behavioural changes in support of safe working practices by all employees.

During the June quarter we made significant progress at our four major international growth projects as part of our plan to achieve five million quality gold equivalent ounces, in production or in development by 2015.

In addition our South Deep project in South Africa continues to progress towards its target of 750,000 ounces per annum at full production.

At the Far South East project in the Philippines, where Gold Fields has an option to acquire 60 per cent, we now have eight underground diamond drill rigs turning. During the quarter, initial results confirmed our preliminary mining model and identified significant additional mineralisation outside of the model, both laterally and at depth. Our aim is to deliver a first resource model, by March 2012. Concurrently we are making good progress on a range of technical, social and environmental studies required to advance this project.

We are also on course to complete a feasibility study for the Chucapaca project in Peru by mid-2012. Twelve drill rigs are onsite to complete Phase 2 of our drilling programme and we expect to complete an updated resource model in the last quarter of this year.

The Arctic Platinum project in Finland has progressed to a prefeasibility consolidation study (PFS) which will review and update the previous feasibility study, completed in 2005. The PFS is set to be completed by December 2011. Metallurgical test work at the pilot plant, which forms part of the PFS is progressing on schedule and is expected to be completed by the end of this year.

At the Yanfolila project in Mali the resource definition drilling programme continued apace with four drill rigs turning. We expect to complete a scoping study on this project in the third quarter of this year.

On 20 June 2011 our shareholders overwhelmingly approved the acquisition of IamGold’s indirect 18.9 per cent stake in the Tarkwa and Damang mines in Ghana which has increased our shareholding from 71.1 per cent to 90 per cent. This acquisition adds about 180,000 ounces to our annual attributable production and 2.14 million ounces of reserves.”

Stock data   JSE Limited – (GFI)  
Number of shares in issue   Range - Quarter ZAR92.90 – ZAR128.40
- at end June 2011 722,957,368   Average Volume - Quarter 2,156,049 shares / day
- average for the quarter 721,981,479   NYSE – (GFI)  
Free Float 100 per cent   Range - Quarter US$13.80 – US$18.55
ADR Ratio 1:1   Average Volume - Quarter 4,043,453 shares / day
Bloomberg / Reuters GFISJ / GFLJ.J