MTN GROUP - RENEWAL OF THE CAUTIONARY ANNOUNCEMENT

MTN GROUP - RENEWAL OF THE CAUTIONARY ANNOUNCEMENT                              
MTN Group Limited                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/009584/06)                                            
Share code: MTN                                                                 
ISIN ZAE000042164                                                               
("the Company")                                                                 
RENEWAL OF THE CAUTIONARY ANNOUNCEMENT                                          
Further to the cautionary announcement dated 1 December 2003, shareholders are  
advised that negotiations are still in progress and if successfully concluded   
may have an effect on the price of the Company"s shares. Accordingly,           
shareholders are advised to continue to exercise caution when dealing in the    
Company"s shares until a further announcement is made.                          
Johannesburg                                                                    
12 January 2004                                                                 
Sponsor:                                                                        
Merrill Lynch South Africa (Pty) Limited                                        
Date: 12/01/2004 08:01:09 AM Supplied by www.sharenet.co.za                     
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