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MTN - MTN pioneer status in Nigeria unchanged

Release Date: 14/03/2005 12:55
Code(s): MTN
Wrap Text

MTN - MTN pioneer status in Nigeria unchanged MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) Share code MTN ISIN ZAE000042164 ("MTN") MTN PIONEER STATUS IN NIGERIA UNCHANGED Notwithstanding speculation and otherwise in respect of a review of the pioneer status involving a tax holiday for a period of five years granted to all GSM operators in Nigeria, MTN Nigeria Communications Limited ("MTN Nigeria") has valid certification in respect of such pioneer status. This concession has given MTN an opportunity to increase the speed and extent of its investment and infrastructure roll-out in Nigeria. To September 2004 MTN Nigeria has invested in excess of US$ 1,7 billion in infrastructure roll-out and licence fees. MTN Nigeria"s GSM network infrastructure extends to approximately 56 percent of the population, covers more than 80 cities and towns and geographic coverage has reached 278 000 km2. Ends 14 March 2005 Johannesburg Sponsor Merrill Lynch South Africa Date: 14/03/2005 12:55:11 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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