Further Update on The Fine Imposed on MTN Nigeria and Renewal of Cautionary Announcement MOBILE TELEPHONE NETWORKS HOLDINGS PROPRIETARY LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/001411/07) Instrument Code: MTN04 ISIN: ZAG000078619 (“MTNH”) or (“the Company”) FURTHER UPDATE ON THE FINE IMPOSED ON MTN NIGERIA AND RENEWAL OF CAUTIONARY ANNOUNCEMENT Noteholders were advised on 22 January 2016 that the above-mentioned matter came up for hearing before the Federal High Court in Lagos, Nigeria when the judge adjourned the matter to 18 March 2016 in order to enable the parties to try and settle the matter. Pursuant to the ongoing engagement with the Nigerian Authorities, MTN Nigeria has today made an agreed without prejudice good faith payment of 50 Billion Naira (USD250 million) to the Federal Government of Nigeria on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at. In an effort to achieve an amicable settlement, MTN has agreed to withdraw the matter from the Federal High Court in Lagos. Phuthuma Nhleko in his capacity as Executive Chairman of MTN Holdings and a director of MTN Nigeria is continuing to lead the team engaging the Nigerian Authorities with a view to settling the matter. Noteholders are therefore advised to continue to exercise caution when dealing in the Company’s securities until a further announcement is made. Fairland 24 February 2016 Debt Sponsor The Standard Bank of South Africa Ltd Date: 24/02/2016 05:26:00 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.