Director Dealing - 29 December 2008

MTN - MTN Group Limited - Dealing in securities by

MTN MTN MTN - MTN Group Limited - Dealing in securities by director MTN Group Limited (Incorporated in the Republic of South Africa) (Registration Number 1994/009584/06) (Share code MTN & ISIN ZAE000042164) ("MTN") DEALING IN SECURITIES BY DIRECTOR In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE Limited we hereby disclose the exercise of MTN Group share appreciation rights, as well as the purchase and sale of MTN shares by the under mentioned director: Name of director : Mr Phuthuma Nhleko Date of transactions : 23 December 2008 Number of shares in respect of share appreciation rights exercised : 33 814 Strike price (per share) : R71.00 Total value : R2 400 794.00 Number of shares purchased : 18 741 Purchase price (per share) : R98.84 Total value : R1 852 360.44 Number of shares sold : 15 073 Sale price (per share) : R95.00 Total value : R1 431 935.00 Class of security : Ordinary shares of 0.01 cents each Nature of transactions : Exercise of share appreciation rights, as well as purchase and sale of shares by director Nature of interest : Beneficial Prior clearance to deal in these shares was obtained in accordance with MTN`s policy with regard to director`s dealings as well as the Listing Requirements of JSE Limited. Fairland 29 December 2008 Sponsor Merrill Lynch South Africa (Pty) Limited Date: 29/12/2008 17:45:22 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.