MTN Group Limited - Director Dealings

MTN Group Limited - Director Dealings                                           
MTN Group Limited                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/009584/06)                                            
(Share code: MTN)                                                               
(ISIN code: ZAE000042164)                                                       
("MTN Group" or "the Group)                                                     
Director Dealings                                                               
Awarding of share options to Directors / SENIOR EXECUTIVES:                     
In terms of section 3.63 of the Listings Requirements of the JSE Limited we     
hereby give you notice of the offer and acceptance of MTN Group Share           
Appreciation Rights allocated to the following Directors and Senior Executives  
of MTN:                                                                         
Name                  Title                                             Share   
                                                                 Appreciation   
Rights Grant   

Phuthuma Nhleko       Group President and CEO                         516,400   
Sifiso Dabengwa       Group COO                                        43,400   
Rob Nisbet            Group CFO                                       197,400   
Christian De Faria    Vice President - WECA Region                    348,600   
Jamal Ramadan         Vice President - Special Projects               348,600   
Irene Charnley        Vice President - MENEA Region                    69,400   
Karel Pienaar         Group Chief Technical Officer                   103,800   
Paul Norman           Group HR Executive                               72,100   
Ahmad Farroukh        CEO MTN Nigeria                                 277,900   
Brian Gouldie         Acting MD - Mobile Telephone Networks            47,900   
                      (Pty) Ltd                                                 
Imad Kreidieh         CEO MTN Sudan                                   143,200   
Ismail Jaroudi        CEO MTN Syria                                   143,200   
Raed Ahmad            CEO MTN Yemen                                   130,100   
Date of grant                 :    21 November 2006                             
Date of acceptance            :    23 November 2006                             
Strike price (per share)      :    R71.00                                       
Strike date                   :    21 November 2006                             
Nature of transaction         :    Offer and acceptance of MTN Group Ltd Share  
Appreciation Rights                          

Vesting periods               :    20% of total allocation on 21 Nov 2008       
                                   20% of total allocation on 21 Nov 2009       
                                   30% of total allocation on 21 Nov 2010       
30% of total allocation on 21 Nov 2011       

Fairland                                                                        
24 November 2006                                                                
Sponsor                                                                         
Merrill Lynch South Africa (Proprietary) Limited                                
Date: 24/11/2006 05:23:03 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department