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MTN - MTN Group Limited - Statement from MTN Group Chairman, Cyril Ramaphosa, on

Release Date: 02/02/2012 17:46
Code(s): MTN
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MTN - MTN Group Limited - Statement from MTN Group Chairman, Cyril Ramaphosa, on The Turkcell claim MTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share code: MTN ISIN code: ZAE000042164 ("MTN") STATEMENT FROM MTN GROUP CHAIRMAN, CYRIL RAMAPHOSA, ON THE TURKCELL CLAIM This evening the Board of MTN issued a statement via the JSE`s Stock Exchange News Service (SENS) regarding a potential claim in the US courts against the MTN Group by the Turkish mobile phone operator Turkcell. The details of the allegations made by Turkcell against the company are set out in our announcement. Irrespective of the validity of Turkcell`s claims, the very fact that such allegations have been made is serious. MTN has zero tolerance for corrupt and unethical business practices. MTN`s response must be measured and authoritative, reflecting the seriousness with which we take any claims of this nature. Accordingly, the MTN Group Board has decided to set up a special committee to consider these allegations in depth and to recommend appropriate action. This committee will comprise non-executive members of our Board, and will be chaired by Lord Hoffman, the eminent South African born judge and jurist. I am confident that he will bring a fiercely independent perspective to the process. MTN is an extraordinary success story for South Africa. We are a young, dynamic company that represents the best of our continent. The empowering role we have played in providing mobile communications to communities across Africa and the Middle East is something of which I am immensely proud. MTN and the Board remain committed to providing the highest quality of services and products to our customers. As Chairman, I know the pride that all of us at MTN feel in the work we do. We all remain committed to this vision. Fairland 2 February 2012 Sponsor Deutsche Securities (SA) (Pty) Limited Date: 02/02/2012 17:46:01 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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