SENS Note - 16 August 2010

MTN expecting increase in earnings

MTN is currently finalising its financial results for the six month period ended 30 June 2010, expected to be announced on Thursday, 19 August 2010. Shareholders were advised that MTN expects an increase of between 18.1% and 23.1% in adjusted headline earnings per share ("adjusted HEPS") for the six month period ended 30 June 2010 when compared against the previously reported corresponding period. Attributable earnings per share is expected to increase by between 4.8% and 9.8% and basic HEPS to increase by between 1.5% and 6.5% for the same period against those reported for the previous corresponding period. The only adjustment between basic HEPS and adjusted HEPS for the six month period ended 30 June 2010 is the reversal of the impact of the put option that a shareholder has on the MTN Nigeria operations.

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