BCX / Telkom - Update on Telkom"s proposed acquisition of BCX

BCX / Telkom - Update on Telkom"s proposed acquisition of BCX                   
Business Connexion Group Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1988/005282/06)                                            
Share code: BCX   ISIN: ZAE000054631                                            
("BCX")                                                                         
Telkom SA Limited                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1991/005476/06)                                            
Share code: TKG   ISIN: ZAE000044897                                            
("Telkom")                                                                      
Update on Telkom"s proposed acquisition of BCX                                  
Telkom and BCX note that the Competition Commission has recommended to the      
Competition Tribunal that Telkom"s proposed acquisition of BCX (the             
"Acquisition") be prohibited. The Competition Tribunal may or may not agree with
the Competition Commission"s recommendation. Telkom continues to believe that it
has a strong case and will be putting forward its case to the Competition       
Tribunal. A pre-hearing is scheduled at the Competition Tribunal for 24 November
2006.                                                                           
Shareholders are reminded that the Acquisition is subject to the Competition    
Authorities approving the Acquisition in terms of the Competition Act, 1998 (Act
89 of 1998) as amended, either unconditionally or subject to such conditions as 
may be acceptable to Telkom.                                                    
In terms of the Scheme of Arrangement entered into between Telkom and the BCX   
shareholders a date of 15 December 2006 was included for the conditions         
precedent to be fulfilled including Competition Authorities approval. This      
fulfilment date can be extended by the mutual consent of the Boards of BCX and  
Telkom. If the fulfilment date is not extended by the mutual consent of both    
parties then the Scheme of Arrangement will fail and Telkom will not conclude   
its acquisition of BCX.                                                         
A further announcement will be made in due course.                              
Johannesburg                                                                    
20 November 2006                                                                
Financial advisor and sponsor to Telkom: UBS                                    
Financial advisor to BCX: Investec Corporate Finance                            
Transaction sponsor to BCX: Investec Bank Limited                               
Attorneys to Telkom: Werksmans Inc.                                             
Attorneys to BCX: Cliffe Dekker Inc.                                            
Sponsor to BCX: RMB                                                             
Date: 20/11/2006 08:45:19 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department