SENS Note - 25 August 2009

MTN -- trading statement

MTN is currently finalising its financial results for the six month period ended 30 June 2009, expected to be announced on the morning of 27 August 2009. Shareholders are advised that MTN expects an increase of between 19.8% and 24.8% in basic headline earnings per share as well as attributable earnings per share for the six month period ended 30 June 2009 against the previously reported corresponding period. Adjusted headline earnings per share for the six month period ended 30 June 2009 are expected to decrease by between 8.6% and 13.6% against the adjusted HEPS reported in the previous corresponding period. The only adjustment between HEPS and Adjusted HEPS for the period to June 2009 is the reversal of the impact of the put option that a shareholder has on the MTN Nigeria operations. In addition to this reversal, the prior period comparative had an adjustment for the reversal of the deferred tax debit relating to the MTN Nigeria operations. Shareholders are reminded that the above earnings numbers are negatively impacted by the stronger ZAR and resultant unrealised forex losses on loans to and receivables from certain operations versus unrealised forex gains in the prior period. Unrealised forex losses in the current period also include losses on dollar denominated deposits. This trading statement has neither been reviewed nor reported on by MTN's external auditors. The information provided in this announcement does not contain and should not be construed as containing any forward looking statements or projections of any nature whatsoever for periods beyond 30 June 2009.

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