MTN - MTN Group - Final Unwind Of Hedge Transaction By Newshelf 664

MTN - MTN Group - Final Unwind Of Hedge Transaction By Newshelf 664             
(Proprietary) Limited ("Newshelf") Resulting In MTN Directors Indirect          
Dealing                                                                         
MTN Group Limited                                                               
Registration number 1994/009584/06                                              
Share code: MTN                                                                 
ISIN: ZAE000042164                                                              
("MTN")                                                                         
FINAL UNWIND OF HEDGE TRANSACTION BY NEWSHELF 664 (PROPRIETARY) LIMITED         
("NEWSHELF") RESULTING IN MTN DIRECTORS INDIRECT DEALING                        
Shareholders are referred to the disclosure made by MTN on 2 March 2007         
regarding Newshelf and its shareholding in MTN.  In that announcement           
shareholders were reminded that in terms of the agreements for the funding of   
Newshelf entered into in 2003, Newshelf was obliged to enter into a hedging     
transaction in respect of 65.5 million MTN shares. These MTN shares were also   
the subject of a scrip lending arrangement. This hedging transaction and scrip  
lending arrangement has been naturally unwound in accordance with the agreement 
entered into in 2003 ("the Hedge Unwind). The Hedge Unwind was completed through
a final disposal of 64.5 million MTN shares today ("the Final Hedge Unwind").   
Shareholders should note that these are derivative transactions that will not   
have an impact on the price at which the MTN share trades.                      
The entire issued ordinary share capital of Newshelf is held by the Alpine      
Trust.  PF Nhleko, RD Nisbet, RS Dabengwa and I Charnley are directors of       
Newshelf and PF Nhleko and I Charnley are amongst others, trustees of the Alpine
Trust.  The beneficiaries of the Alpine Trust are the management and employees  
of MTN including all the executive directors of MTN as well as some of the      
directors of MTN`s major subsidiaries, and as such, have an indirect, beneficial
interest in the MTN shares held by Newshelf which are being disposed of, as part
of the Final Hedge Unwind.                                                      
Following the Final Hedge Unwind, Newshelf continues to hold a direct beneficial
interest in 243.5 million MTN shares with full voting rights.                   
Fairlands                                                                       
29 June 2007                                                                    
Sponsor to MTN                                                                  
Merrill Lynch South Africa (Proprietary) Limited                                
Date: 29/06/2007 17:57:58 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.