SENS Note - 20 March 2008

MTN - MTN Group - Awarding Of Share Options To Directors

MTN MTN MTN - MTN Group - Awarding Of Share Options To Directors MTN Group Limited Registration number: 1994/009584/06 ISIN code: ZAE000042164 Share code: MTN ("MTN" or "the Group") Awarding of share options to Directors In terms of section 3.63 of the Listings Requirements of the JSE, the following information is disclosed in respect of the offer and acceptance of MTN Group Share Appreciation Rights allocated to the following directors and directors of major subsidiaries, of MTN Group: Name: Sifiso Dabengwa Title: COO - MTN Group Limited Capacity: MTN Group Director Share Appreciation Rights Grant: 72,200 Name: Rob Nisbet Title: Finance Director - MTN Group Limited Capacity: MTN Group Director Share Appreciation Rights Grant: 22,600 Name: Zunaid Bulbulia Title: CFO - Mobile Telephone Networks (Pty) Ltd (South Africa) Capacity: Subsidiary Director Share Appreciation Rights Grant: 24,600 Name: Brett Goshen Title: CEO - Scancom Limited (MTN Ghana) Capacity: Subsidiary Director Share Appreciation Rights Grant: 61,300 Name: Ferdi Moolman Title: CFO - MTN Irancell Telecommunication Services Capacity: Joint Venture Director Share Appreciation Rights Grant: 51,000 Date of grant of offer: 19 March 2008 Date of acceptance of offer: 19 / 20 March 2008 Option strike price (per share): R 126.99 Strike date: 19 March 2008 Nature of transaction: Offer and acceptance of MTN Group Ltd Share Appreciation Rights Vesting periods: 20% of total allocation on 19 March 2010 20% of total allocation on 19 March 2011 30% of total allocation on 19 March 2012 30% of total allocation on 19 March 2013 Prior clearance had been obtained from the Chairman of the Nominations, Remunerations and Human Resources Committee for all individuals listed above. Fairland 20 March 2008 Sponsor Merrill Lynch South Africa (Pty) Limited Date: 20/03/2008 17:36:06 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.