RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands 
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD

HALF-YEAR PROFIT DOUBLES DESPITE INCREASED

London, 31 July 2008  - Randgold Resources (LSE:RRS)(NASDAQ:GOLD) boosted its net profit for the six months to June to US$38.4 million (2007: US$19.6 million) in spite of the negative impact of a weakening dollar and rising input costs, the company reported today. Net profit of US$20.2 million for the second quarter was up 11% on the previous quarter and up 196% on the corresponding quarter in 2007.

The profit increase is attributable to higher production at the Loulo gold mine in Mali and at the Morila joint venture, also in Mali, where Randgold Resources took over management control earlier this year, as well as to a higher received gold price. Production at Loulo increased by 11% quarter on quarter and at Morila by 13%. While total cash costs at both operations rose, unit costs were reasonably well contained through increased production and an intensified focus on unit consumption measurements.

Loulo produced 70 100 ounces at a total cash cost of US$496/oz during the quarter (Q1: 63 249 oz @ US$470) despite some operational challenges caused by the delay in ore production from the Yalea underground development. Yalea produced its first ore from development and silling operations in late June with ore production from mining stopes having started in July. Morila produced 113 746 ounces at a total cash cost of US$398/oz (Q1: 101 000 oz @ US$393), with remedial actions instituted by Randgold Resources resulting in improved throughput and recoveries.

In another major development, the company said the latest drilling results from its recently announced Massawa project in Senegal, had confirmed that this was a major discovery. Continued diamond drilling had so far revealed significant grades and widths within two zones, totalling 3.1 kilometres out of the 6.5 kilometres of strike tested to date. "Results also confirmed good continuity in geology and gold mineralisation which supports our view that Massawa is potentially a multi million ounce project and validates our commitment to creating value through exploration and development," Bristow said.

At the Tongon project in Côte d'Ivoire, currently in the early stages of development as the company's third mine, continuing infill drilling and follow-up optimisation studies completed during the quarter had resulted in a further increase of 26% in the reserve, which now stands at more than 3 million ounces. Most elements of the new mine's infrastructure have been settled and tenders from mining contractors are currently being considered.

Chief executive Mark Bristow said the fact that the company had increased its profits - at a time when cost pressures on the mining industry were intensifying - demonstrated its commitment to protecting and improving its margins. "We aim to achieve this by growing our production and by focusing on cost control and efficiency improvement in every aspect of our operations," he said.

Bristow noted that the company's strong organic growth prospects continued to be enhanced by the success of its exploration programmes, currently operating in six African countries. In addition to Massawa, its portfolio included a number of other advanced targets, notably Kiaka in Burkina Faso, Tiasso in the Côte d'Ivoire and Faraba near Loulo. These also provided it with an accurate benchmark against which to measure the new business opportunities it continues to evaluate at corporate, project and joint venture levels, he said.

RANDGOLD RESOURCES ENQUIRIES:

Website:  www.randgoldresources.com

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REPORT FOR THE QUARTER AND 6 MONTHS ENDED 30 JUNE 2008

* New drilling confirms significant discovery at Massawa
*  Half year profits almost double
* Group gold production increases by 12% to 115 598 ounces quarter on quarter
* Stoping starts at Loulo underground mine
* Tongon reserves grow by a further 26%
* Growth prospects from key targets support increased exploration budget

Randgold Resources Limited had 76.2 million shares in issue as at 30 June 2008

SUMMARISED FINANCIAL INFORMATION

#  Gold sales do not include the non-cash profit/(loss) on the roll forward of hedges.

 *  Refer to explanation of non-GAAP measures provided.

+  Randgold Resources consolidates 100% of Loulo and 40% of Morila.

COMMENTS

Gold sales in the June quarter increased by 9% from the March 2008 quarter as well as by 44% over the corresponding quarter in 2007.  This was due to increased gold production at both Loulo and Morila resulting from improved grade and recoveries over the comparable periods. At Morila, production increased by 13% quarter on quarter and by 31% on the corresponding quarter of 2007, while at Loulo production increased by 11% quarter on quarter and was in line with the corresponding quarter in 2007. The higher received gold price compared to the corresponding quarter in 2007 also contributed to the higher gold sales.

Total cash costs for the quarter increased from the previous quarter as well from the corresponding quarter in 2007. The effect of the weakening US dollar against the euro and increased consumable input prices, especially oil, continued to impact negatively on costs. These same factors also affected the mining contractor costs and processing costs at both mines. Despite this, unit costs were reasonably well contained with an increased focus on unit consumption measurements and increased production.

Exploration and corporate expenditure decreased to US$12.6 million from US$14 million in the March 2008 quarter due to a decrease in bonus accruals, partially offset by increased drilling expenditure on exploration targets, including Massawa in Senegal, Kiaka in Burkina Faso and Tiasso in Côte d'Ivoire. Exploration work also continues within the Tongon permit. All expenditure incurred directly on the mine development is being capitalised as previously highlighted.

Net profit of US$20.2 million for the current quarter was up 11% from the March 2008 quarter and up 196% from the corresponding quarter in 2007, mainly as a result of the movements mentioned above.

Gold sales for the six months ending 30 June 2008 increased by 41% compared to the six months ending 30 June 2007. This was attributable to an increase in the average gold price receiv