MTN GROUP LIMITED - AWARDING OF SHARE OPTIONS TO DIRECTORS OF A SUBSIDIARY

MTN GROUP LIMITED - AWARDING OF SHARE OPTIONS TO DIRECTORS OF A SUBSIDIARY      
COMPANY                                                                         
MTN Group Limited                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/009584/06)                                            
Share code: MTN                                                                 
ISIN ZAE000042164                                                               
AWARDING OF SHARE OPTIONS TO DIRECTORS OF A SUBSIDIARY COMPANY                  
In terms of section 3.63 of the Listings Requirements of the JSE Securities     
Exchange South Africa we hereby give you notice of the offer and acceptance of  
MTN Group Share Options allocated to the directors of MTN Group Limited as      
mentioned below:                                                                
Name of director of subsidiary company  :    Mr K Pienaar                       
Date of offer                           :    1 December 2004                    
Date of acceptance of offer             :    18 January 2005                    
Option strike price (per share)         :    R40.50                             
Strike date                             :    1 December 2004                    
Amount of share options awarded         :    31 100                             
Nature of transaction                   :    Offer and acceptance of            
MTN Group Ltd Share Options        

Vesting periods               :    20% of total allocation on 1 December 2006   
                                   20% of total allocation on 1 December 2007   
                                   30% of total allocation on 1 December 2008   
30% of total allocation on 1 December 2009   

Name of director of subsidiary company  :    Mr P Norman                        
Date of offer                           :    1 December 2004                    
Date of acceptance of offer             :    19 January 2005                    
Option strike price (per share)         :    R40.50                             
Strike date                             :    1 December 2004                    
Amount of share options awarded         :    33 900                             
Nature of transaction                   :    Offer and acceptance               
of MTN Group Ltd Share Options     

Vesting periods               :    20% of total allocation on 1 December 2006   
                                   20% of total allocation on 1 December 2007   
                                   30% of total allocation on 1 December 2008   
30% of total allocation on 1 December 2009   

19 January 2005                                                                 
Sandton                                                                         
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited                                        
Date: 19/01/2005 03:37:52 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department