Naspers Limited/ MIH Holdings Limited - Results Announcement

Naspers Limited/ MIH Holdings Limited - Results Announcement                    
Naspers Limited                                                                 
   (Incorporated in the Republic of South Africa                                
and listed on the JSE Securities Exchange South Africa)                     
   (Registration number 1925/001431/06)                                         
   Share code NPN   ISIN ZAE000015889                                           
   ("Naspers")                                                                  
MIH Holdings Limited                                                            
   (Incorporated in the Republic of South Africa                                
    and listed on the JSE Securities Exchange South Africa)                     
   (Registration number 1993/005613/6)                                          
Share code MHH   ISIN ZAE000018941                                           
   ("MIHH")                                                                     
RESULTS ANNOUNCEMENT OF THE SPECIAL MEETING OF MIH LIMITED ("MIHL")             
SHAREHOLDERS, MIHH SCHEME MEETING AND THE GENERAL MEETING OF NASPERS            
SHAREHOLDERS IN TERMS OF THE PROPOSED REORGANISATION OF NASPERS                 
   Further to the announcement dated 8 November 2002, Investec Bank Limited is  
authorised to announce that:                                                    
   * the merger of MIHL into MIH BVI Limited ("the merger") has been approved by
the requisite majority of votes exercisable by the MIHL shareholders in a       
special meeting held on Friday 29 November 2002;                                
   * the scheme of arrangement ("the scheme"), proposed by Naspers between MIHH 
and its shareholders, has been approved by the requisite majority of scheme     
members at the scheme meeting held on Monday 2 December 2002;                   
   * the resolutions necessary to approve and to implement the reorganisation,  
were passed without modification by the Naspers shareholders in general meeting 
held on Monday 2 December 2002.                                                 
Application will be made to the High Court of South Africa (Witwatersrand    
Local Division), which is located in the High Court Building, von Brandis       
Square, corner Pritchard and von Brandis Streets, Johannesburg ("the Court") to 
sanction the scheme on Tuesday 10 December 2002 at 10:00 or as soon thereafter  
as Counsel may be heard. If the Court sanctions the scheme, the only remaining  
condition precedent to which the scheme and reorganisation will remain subject, 
will be the registration of the Order of Court sanctioning the scheme by the    
Registrar of Companies.                                                         
A further announcement regarding the outcome of the application to the Court 
and details of the surrender procedure required for existing MIHH documents of  
title will be published on or about Wednesday 11 December 2002.                 
   Cape Town                                                                    
3 December 2002                                                              
Merchant bank                                                                   
  Investec Corporate Finance                                                    
  Investec Bank Limited                                                         
(Registration number 1969/004763/06)                                          
Independent advisor to MIHH and MIHL boards of directors                        
  Merrill Lynch                                                                 
  Global Markets & Investment Banking Group                                     
Merrill Lynch International                                                   
  Registered in England                                                         
  Registration number 2312079                                                   
  Regulated in the United Kingdom                                               
by The Financial Services Authority                                           
Transactional sponsor to Naspers and MIHH                                       
  Investec Bank Limited                                                         
  (Registration number 1969/004763/06)                                          
Attorneys                                                                       
  Webber Wentzel Bowens                                                         
Attorneys to Naspers                                                            
  Jan S. De Villiers                                                            
Attorneys                                                                     
Sponsor to Naspers                                                              
  Gensec Bank Limited                                                           
  (Registration number 1996/004744/06)                                          
Reporting accountants and auditors                                              
  PricewaterhouseCoopers Inc.                                                   
  Chartered Accountants (SA)                                                    
  Registered Accountants & Auditors                                             
(Registration no. 1998/012055/21)                                             
Sponsor to MIHH                                                                 
  Merrill Lynch                                                                 
  Global Markets & Investment Banking Group                                     
Merrill Lynch South Africa (Pty) Ltd                                          
  Registration number 1995/001805/07                                            
  Registered Sponsor and Member of the                                          
  JSE Securities Exchange South Africa                                          
Date: 02/12/2002 04:41:00 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department