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NPN - Naspers Limited - Announcement - MWeb

Release Date: 02/06/2008 12:00
Code(s): NPN
Wrap Text

NPN - Naspers Limited - Announcement - MWeb Naspers Limited (Incorporated in the Republic of South Africa) (Reg. No 1925/001431/06) Share Code: NPN IZIN: ZAE000015889 ("Naspers") South Africa, 2 June 2008: Naspers Limited (JSE: NPN, LSE: NPSN) announced today that, following approaches for the sale of its internet service provider (ISP) business MWEB, it is initiating an auction process. MWEB is one of the largest residential internet service providers in South Africa and also owns the largest VSAT corporate internet base in sub-Saharan Africa. In order to exploit its market leadership position in a rapidly growing broadband environment, MWEB is planning to invest in wireless broadband. This strategy, focusing on connectivity, diverges from Naspers`s core focus of online content platforms, communities and commerce. Naspers owns no ISP elsewhere in the world. It holds internet investments in 24.com, Tencent, Mail.ru and Gadu-Gadu, the leading online communities and communication businesses in South Africa, China, Russia and Poland, respectively. Via the recent acquisition of Tradus, it now owns leading e- commerce platforms in central and Eastern Europe. In addition, Ibibo in India, Sanook! in Thailand and MXit in South Africa continue to grow their online communities. However, none of them have ISP components. Citigroup has been appointed as financial advisor regarding interests expressed by several potential investors. 2 June 2008 Cape Town Sponsor: Investec Bank Limited Contact details: Mark Sorour Group Chief Investment Officer Naspers +27 21 406 3008 +27 83 2 500 000 msorour@naspers.com Steve Pacak Group Chief Financial Officer Naspers +27 21 406 3585 +27 83 2 500 006 spacak@naspers.com Important Information: This announcement contains forward-looking statements. While these forward- looking statements represent our judgements and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These include key factors that could adversely affect our businesses and financial performance. The Company will not undertake any obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise except as required by law or any appropriate regulatory authority. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein. About Naspers: Naspers is a multinational media company with principal operations in electronic media (including pay-television, internet and instant-messaging subscriber platforms and the provision of related technologies) and print media (including the publishing, distribution and printing of magazines, newspapers and books).The group creates media content, builds brand names around it, and manages the platforms distributing the content. Naspers`s most significant operations are located in South Africa, where it generates most of its revenues, with other operations located elsewhere in sub-Saharan Africa, China, Russia, central and eastern Europe, the Netherlands, Brazil, the United States and Thailand. Date: 02/06/2008 12:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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