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NPN - Naspers - Further Announcement Disposal Of Internet Service Provider Business (MWEB) Naspers Limited (Incorporated in the Republic of South Africa) (Reg. No 1925/001431/06) Share Code: NPN & ISIN: ZAE000015889 LSE ADS code: NPSN & ISIN: US 6315121003 ("Naspers" or "the company") FURTHER ANNOUNCEMENT DISPOSAL OF INTERNET SERVICE PROVIDER BUSINESS (MWEB) 1. Introduction In an announcement published on 2 June 2008 Naspers stated that it had initiated a formal process to dispose of its internet service provider (ISP) business MWEB. Shareholders are now advised that an agreement has been concluded for the sale of MWEB`s sub-Saharan Africa business excluding South Africa ("MWEB Africa") to Telkom International (Proprietary) Limited ("the transaction"). This is a wholly owned subsidiary of Telkom SA Limited, a leading African telecommunications company. The purchase price for the MWEB Africa group including AFSAT is equivalent to an equity value of US$63 million (approximately R610 million). 2. Conditions The transaction is subject to the fulfillment of conditions precedent, including regulatory consents being obtained in certain African jurisdictions. The transaction is expected to close by 30 April 2009. 3. Disposal of MWEB South Africa Given economic conditions globally and the contraction in credit markets, shareholders are also advised that Naspers has terminated the auction process for the disposal of MWEB South Africa. 10 November 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 as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "seek", "will", "plan", "could", "may", "endeavour" and similar expressions are intended to identify such forward- looking statements, but are not the exclusive means of identifying such 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. We are not under 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. 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: 10/11/2008 14:00:01 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.
