Director Dealing - 11 May 2011

MTN - MTN Group Limited - Dealing in securities by

MTN MTN MTN - MTN Group Limited - Dealing in securities by a director of a major subsidiary MTN Group Limited (Incorporated in the Republic of South Africa) Registration Number 1994/009584/06 Share code: MTN ISIN: ZAE000042164 ("MTN Group") DEALING IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE Limited we hereby disclose the following share dealings in MTN Group securities by the under mentioned director of a major subsidiary: Name of director of a major Mr PD Norman subsidiary: Name of subsidiary: Mobile Telephone Networks (Pty) Ltd Date of transaction: 10 May 2011 Number of share options exercised: 33 900 Option strike price (per share): R40.50 Total value of options exercised: R1 372 950.00 Offer date: 1 December 2004 Vesting periods: 20% of total allocation on 01 December 2006 20% of total allocation on 01 December 2007 30% of total allocation on 01 December 2008 30% of total allocation on 01 December 2009 Purchase price (per share): R145.99 Total value of shares purchased: R4 949 061.00 Class of security: Ordinary shares of 0.01 cents each Nature of transactions: Exercise of share options and the subsequent delivery of shares to the director to satisfy the MTN Share Option Scheme`s obligations Nature of trade: Off-market Nature of interest: Direct 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 Listings Requirements of JSE Limited. Fairland 11 May 2011 Sponsor Deutsche Securities (SA) (Pty) Limited Date: 11/05/2011 17:04:23 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.