Telkom and CWU strike a three-year wage deal

Telkom and CWU strike a three-year wage deal                                    
Telkom SA Limited                                                               
(Registration Number 1991/005476/06)                                            
ISIN ZAE000044897                                                               
JSE and NYSE Share Code TKG                                                     
("Telkom")                                                                      
Telkom and CWU strike a three-year wage deal                                    
Telkom signed a new three-year substantive wage agreement with the              
Communications Workers Union (CWU) today.                                       
This deal ushers in a new labour relations dispensation, and strikes a balance  
between the business imperatives of Telkom as a listed company and the interests
of its employees.                                                               
The agreement paves the way for future constructive engagement between          
management and labour in tackling both workplace and business issues.           
Today"s agreement between Telkom and CWU closes the 2003 substantive wage       
negotiations chapter, which saw the Alliance of Telkom Unions (ATU) - which     
includes the South African Communications Union (SACU), the Solidarity Union    
(previously MWU) and the Post and Telecommunications Association (P & T) -      
signing the three-year wage settlement on 23 May 2003.                          
In terms of the agreement, all bargaining unit workers will get a 9% salary     
increase this year backdated to 1 April 2003, 8% in 2004 and 7% in 2005.        
The percentage increases are based on certain key drivers such as inflation,    
Telkom tariff increases and market-related conditions. These increases are in   
line with Telkom"s business imperatives.                                        
Telkom Employee Relations Executive George Nkadimeng praised the negotiating    
teams from both sides, saying their mutual approach in resolving labour issues  
augured well for future dialogue between Telkom and the unions.                 
"The path to this agreement may have been rocky, but the win-win outcome for    
both organised labour and management sets the scene for future dialogue         
involving the parties on labour issues," Nkadimeng said.                        
Johannesburg                                                                    
6 June 2003                                                                     
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Date: 06/06/2003 02:15:13 PM Supplied by www.sharenet.co.za                     
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