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MTN Group Limited - MTN Group Trading Statement

Release Date: 31/05/2005 12:10
Code(s): MTN
Wrap Text

MTN Group Limited - MTN Group Trading Statement MTN Group Limited Incorporated in the Republic of South Africa Registration number 1994/009584/06 Share code: MTN ISIN ZAE000042164 MTN GROUP TRADING STATEMENT In terms of Section 3.4 (b) (Trading Statements) of the Listings Requirements of the JSE Securities Exchange South Africa ("the JSE Listings Requirements"), issuers are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the earnings for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. MTN Group is currently finalising its financial results for the financial year ended 31 March 2005, expected to be released after close of business on 9 June 2005. In accordance with the JSE Listings Requirements, MTN Group would like to advise that it expects an increase of between 40% to 50% in Basic Headline Earnings per Share as well as an increase of between 40% and 50% in Adjusted Headline Earnings per Share for the financial year ended 31 March 2005 against the prior financial year. Attributable Earnings per Share for the financial year ended 31 March 2005 are expected to increase by between 70% and 80% against the Attributable Earnings per Share for the prior financial year (as disclosed in the MTN Group"s financial statements to 31 March 2004). It should, however, be noted that the MTN Group has changed its accounting policy in relation to goodwill amortisation, in line with International Financial Reporting Standards (IFRS3). Taking this change into account, Attributable Earnings per Share are expected to increase by between 40% and 50% year-on-year on the re-stated MTN Group Attributable Earnings per Share for 2004, which excludes the amortisation of goodwill. This trading statement has neither been reviewed nor reported on by MTN Group"s external auditors. The information provided in this announcement does not contain and should not be construed as containing any forward look statements or projections of any nature whatsoever for periods beyond 31 March 2005. Fairlands 31 May 2005 Sponsor Merrill Lynch South Africa (Pty) Ltd Date: 31/05/2005 12:10:16 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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