M-Cell Limited - Trading Update for M-Cell

M-Cell Limited - Trading Update for M-Cell                                      
M-Cell Ltd ("M-Cell" or "the Company")                                          
(Incorporated in the Republic of South Africa)                                  
Registration number 1994/009584/06                                              
Share Code: MCE                                                                 
ISIN Code: ZAE000023115                                                         
Trading Update for M-Cell                                                       
As at 30 June 2002, the Company  recorded a total of 5 078 000 mobile           
subscribers on its networks in South Africa and other African countries.  This  
is a 6.4% growth since 31 March 2002, the Company`s financial year end.         
MTN South Africa increased its pre-paid capable subscriber base to 3 101 000    
subscribers while adding 12 000 subscribers to its post paid base, which now    
stands at 864 000 as at 30 June 2002.  Blended Average Revenue Per User ("ARPU")
numbers remained at R208 per month.  While post-paid ARPU has increased, pre-   
paid ARPU declined during the first quarter.                                    
MTN International witnessed strong subscriber growth of 24.1% to 1 113 000 total
subscribers for the quarter 31 March 2002 to 30 June 2002.  A major contributor 
to this was MTN Nigeria, which recorded 454 000 active subscribers, while strong
performances from MTN Cameroon, MTN Uganda, MTN RwandaCell saw increases to 263 
000, 260 000 and 79 000 subscribers respectively.  MTN Swaziland is experiencing
a more maturing market and recorded 57 000 subscribers.                         
ARPU levels in US$ for the respective countries were as follows:                
- MTN Nigeria    60                                                             
- MTN Cameroon   22                                                             
- MTN Uganda     34                                                             
- MTN RwandaCell 34                                                             
- MTN Swaziland  25                                                             
Sandton                                                                         
20 August 2002                                                                  
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited                                        
Date: 20/08/2002 04:56:14 PM Supplied by www.sharenet.co.za                     
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