MTN GROUP LIMITED - MTN group to increase its interest in MTN Cyprus to 100%

MTN  group to increase its interest in MTN Cyprus to 100%

MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06
Share code: MTN
ISIN code: ZAE000042164
("MTN")

MTN GROUP TO INCREASE ITS INTEREST IN MTN CYPRUS TO 100%

MTN Group (MTN), through its wholly owned subsidiary, MTN Dubai, has agreed to acquire
a 50% equity interest in MTN Cyprus from its local partner, Amaracos Holdings. The
transaction will increase MTN’s ownership interest to 100%.

This transaction forms part of MTN Group’s strategy to consolidate its investments and will
provide further opportunities to accelerate its product and service offerings to the Cypriot
market.

MTN Group acquired its initial investment in MTN Cyprus in 2006 as part of a larger
transaction where 100% of Investcom LLC, a holding company of operations in 10 countries
in Africa and the Middle East, was acquired. Since 2008, MTN Cyprus has grown its market
share from 14% to approximately 33% and subscribers from 105 000 to 316 000 as at 30
September 2012.

MTN Group CEO Sifiso Dabengwa said: “MTN Cyprus is well established within a market that
has good potential for accessing innovation and knowledge sharing that can benefit the
overall MTN group.”

The acquisition is subject to approval by the Commission for Protection of Competition of
the Republic of Cyprus.

This transaction is not a categorised transaction in terms of the JSE Limited Listings
Requirements.

Fairland
6 February 2013

Sponsor
Deutsche Securities (SA) (Pty) Limited

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