NEW AFRICA INVESTMENTS - FURTHER CAUTIONARY

FURTHER CAUTIONARY ANNOUNCEMENT
NEW AFRICA INVESTMENTS LIMITED
(REGISTRATION NUMBER 93/02467/06)
("NAIL")
OMNI MEDIA CORPORATION LIMITED
(REGISTRATION NUMBER 01/00352/06)
("OMNI")
M-CELL LIMITED
(REGISTRATION NUMBER 94/09584/06)
("M-CELL")
FURTHER CAUTIONARY ANNOUNCEMENT

FURTHER TO THE CAUTIONARY ANNOUNCEMENT PUBLISHED IN THE PRESS ON 20 APRIL 1998,
AFRICAN MERCHANT BANK LIMITED IS AUTHORISED TO ANNOUNCE THAT NEGOTIATIONS ARE
STILL IN PROGRESS IN REGARD TO THE ACQUISITION BY NATIONAL AFRICAN

TELECOMMUNICATIONS (PROPRIETARY) LIMITED (THE VEHICLE THROUGH WHICH NAIL AND
OMNI HOLD AN INTEREST IN MOBILE TELEPHONE NETWORKS HOLDINGS (PROPRIETARY)
LIMITED ("MTN")), M-CELL AND TRANSNET LIMITED ("THE PURCHASERS"), OF SBC
INTERNATIONAL, INC'S 15,5% INTEREST IN MTN.

ACCORDINGLY, SHAREHOLDERS OF NAIL, OMNI AND M-CELL ARE ADVISED TO CONTINUE
EXERCISING CAUTION WHEN DEALING IN THEIR SHARES UNTIL A FURTHER ANNOUNCEMENT
IS MADE.
JOHANNESBURG
29 MAY 1998
MERCHANT BANK TO PURCHASERS
AMB
ATTORNEYS TO THE PURCHASES
WEBBER WENTZEL BOWENS
MERCHANT BANK TO M-CELL