This Financial Summary should be read in conjunction with the Company’s 2004 Annual Report on Form 10-K, which provides more detailed financial information, including consolidated financial statements and accompanying notes, as well as Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations.

Newmont generated record revenues of $4.5 billion for 2004, an increase of 43% from 2003, as the Company realized a 13% higher gold price of $412 per ounce on 5% lower sales of 7.0 million equity ounces. Revenues also increased as a result of the consolidation of Batu Hijau, effective January 1, 2004.

Net income for 2004 was $490 million, or $1.11 per share, before a non-cash charge to reflect the cumulative effect of a change in accounting principle of $47.1 million, or $0.11 per share. Net cash provided by operating activities reached a record $1.6 billion in 2004, an increase of 128% from 2003 on stronger realized metal prices and the consolidation of Batu Hijau.

Total cash costs for 2004 were $231 per ounce, an increase of 14% from 2003. Total cash costs per ounce were impacted by lower production as a result of lower ore grades at maturing mines in North America and Australia, and the sale, closure or suspension of non-core operations. Cash costs were also impacted by inflationary cost pressures for commodities and consumables, in addition to a 13% appreciation in the Australian dollar. Nonetheless, margins based on total production costs increased 17% to $117 per ounce from 2003.

FINANCIAL FLEXIBILITY

Newmont ended 2004 with approximately $2.1 billion in cash and marketable securities, or approximately $0.5 billion in excess of consolidated debt. For 2004, Newmont paid dividends of $0.30 per common share, a 76% increase over 2003.

Capital expenditures totaled $718 million in 2004, with substantial expenditures at the Leeville and Phoenix projects in Nevada, leach pad expansions at Yanacocha in Peru and at the Ahafo project in Ghana.

During the year, net debt repayments totaled $198 million, including $143 million related to Batu Hijau. Newmont maintains a $1.25 billion revolving credit facility, has an investment grade credit rating and has access to Shelf Registration Statements totaling $1.2 billion.