MTN - MTN Group Limited - Announcement

MTN - MTN Group Limited - Announcement                                          
MTN Group Limited                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration Number 1994/009584/06)                                            
(Share code MTN  ISIN ZAE000042164)                                             
("MTN")                                                                         
Announcement                                                                    
Shareholders are advised that MTN has entered into an agreement with Verizon    
Business, part of US based Verizon Communications Inc., to acquire 100% of      
Verizon South Africa (Pty) Ltd ("Verizon Business South Africa").  Verizon      
Business corporate entities currently own approximately 70% of Verizon Business 
South Africa with the balance held by an entity controlled by Jay & Jayendra    
(Pty ) Ltd, which is part of the J&J Group.                                     
Verizon Business South Africa is an established South Africa headquartered      
Internet Service Provider ("ISP") providing full connectivity services to       
corporate customers in South Africa, Namibia, Botswana, Zambia and Kenya.       
The transaction is in line with MTN`s stated strategy to provide integrated     
communications solutions in all of its markets and follows similar acquisitions 
by MTN subsidiaries in Nigeria, Cameroon, Cyprus and Cote d`Ivoire.             
Closing of the transaction is subject to, inter-alia, regulatory and competition
commission clearances.                                                          
Fairland, 25 June 2008                                                          
Sponsor to MTN                                                                  
Merrill Lynch South Africa                                                      
Financial advisors to MTN                                                       
Lehman Brothers                                                                 
SA legal and tax advisors to MTN                                                
Edward Nathan Sonnenbergs                                                       
English legal advisor to MTN                                                    
Freshfields                                                                     
Date: 25/06/2008 08:00:07 Supplied by www.sharenet.co.za                     
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