SENS Note - 23 April 2008

MTN -- subscriber numbers for March quarter

MTN Group recorded 68 207 000 subscribers at 31 March 2008. This is an 11% increase for the quarter from 61 353 000 subscribers recorded at 31 December 2007. The analysis is presented on a regional basis. The South and East Africa (SEA) region contributed 29% (December 2007: 31%) of the group total subscribers and West and Central Africa (WECA) and Middle East and North Africa (MENA) regions were 45% (December 2007: 46%) and 26% (December 2007: 23%) respectively. The SEA region increased its subscriber base by 4% for the quarter. The South African operation contributed 76% to the region, with subscribers increasing 3% to 15 169 000 for the quarter ended 31 March 2008. Postpaid showed a healthy improvement in net connections for the quarter, increasing by 4%. Prepaid growth was underpinned by the new product offering, MTN Zone, with 3.8 million subscribers on this price plan at the end of March 2008. 128 000 new connections can be directly attributable to this product offering. Uganda increased its subscriber base by 2% due to increased competition while Zambia increased its base by 34% in the same period due to a revised product offering. Rwanda's increase in subscribers of 16% for the quarter was driven by a tariff decrease in February 2008. The WECA region increased its subscriber base by 9% for the quarter. Nigeria contributed 58% to the region recording an 8% increase in subscribers to 17 766 000. The aggressive network rollout has resulted in 285 base stations being rolled out during the quarter. This has ensured meaningful progress in addressing the quality and capacity challenges. Ghana increased its subscriber base by 9% to 4 398 000 and addressed the quality concerns with the rollout of 182 base stations in the quarter. Cameroon increased subscribers by 12% to 2 855 000 due to increased marketing activities. The MENA region recorded a 26% increase in subscribers for the quarter mainly due to strong growth from the start-up operation in Iran, which increased subscribers by 50% to 9,025,000. The number disclosed at mid March of 9 380 000 incorrectly included unactivated SIM cards given away as part of the buy one get one free promotion. Strong subscriber growth was achieved in Sudan and Afghanistan of 13% and 22% respectively, due to relatively low penetration in these countries. Q1 ARPU's are most negatively affected by the YTD nature of the ARPU formula. MTN South Africa's blended ARPU decreased by 3% indicating that rising inflation has not meaningfully affected ARPU to date, however this could have an impact in the future. Nigeria, Ghana and Cameroon ARPU's remain robust not withstanding seasonal trends and increased penetration. Sudan and Afghanistan's strong subscriber growth combined with competition and declining tariffs has had a negative impact on ARPU resulting in declines of 37% and 40% respectively. Shareholders are advised of a R272 million correction to Ghana's H2:2007 revenue and ARPU announced on the 18 March 2008 now reflecting revenue R4.048 million and an ARPU of USD15 for the full year to 31 December 2007.

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