M-CELL CAUTIONARY ANNOUNCEMENT

M-CELL LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 94/09584/06)
("M-CELL")
CAUTIONARY ANNOUNCEMENT

STANDARD CORPORATE AND MERCHANT BANK IS AUTHORISED TO ANNOUNCE THAT M-CELL HAS
ENTERED INTO NEGOTIATIONS WHICH, IF SUCCESSFULLY CONCLUDED, MAY HAVE AN EFFECT
ON THE PRICE AT WHICH M-CELL SHARES TRADE ON THE JOHANNESBURG STOCK EXCHANGE.
ACCORDINGLY, M-CELL SHAREHOLDERS ARE ADVISED TO EXERCISE CAUTION WHEN DEALING
IN THEIR SHARES UNTIL A FURTHER ANNOUNCEMENT IS MADE.
JOHANNESBURG
11 MARCH 1999
MERCHANT BANK
SCMB
STANDARD CORPORATE AND MERCHANT BANK

(A DIVISION OF THE STANDARD BANK OF SOUTH AFRICA LIMITED)
(REGISTRATION NUMBER 62/00738/06)
JOINT SPONSORING BROKERS
EQUISEC (PTY) LIMITED
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
(REGISTRATION NUMBER 96/05007/07)
MERRILL LYNCH SOUTH AFRICA (PTY) LTD
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REGISTRATION NUMBER 95/01805/09
ATTORNEYS
WWB
WEBBER WENTZEL BOWENS