SENS Note - 27 August 2009

MTN interim results June 09

Revenue increased by 24.2% to R57.3 billion (R46.1 billion). Net attributable profit rose by 30.6% to R9.1 billion (R7 billion). In addition, headline earnings per share jumped to 415.5cps (339.3cps). Outlook There are some indications that global economic conditions may be starting a slow recovery although many of our markets remain relatively vulnerable at present. Competition across MTN's footprint is likely to continue to increase. Shorter term prospects in South Africa remain challenging, compounded by the impact of new subscriber registration requirements from 1 August 2009. MTN remains focused on: actively seeking value-accretive expansion opportunities in emerging markets; tightly monitoring infrastructure investments to ensure appropriate levels of capacity and quality of service for an enlarged market; optimising efficiencies in maintaining and improving our competitive position while ensuring the group is able to benefit from a rapidly converging technology market, and continued investment in sub-marine cables for efficient access; continuing engagement with regulatory authorities in the development and refinement of the telecommunication sector; and the implementation of MTN's proposed BEE deal at the appropriate time.

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