SENS Note - 19 February 2015

MTN -- Trading statement

MTN is currently in the process of finalising its financial results for the year ended 31 December 2014. These results will be announced on Wednesday 4 March 2015. Paragraph 3.4(b) of the Listings Requirements of the JSE Ltd. requires a trading statement to be published as soon as issuers and its directors are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Shareholders are advised that MTN expects an increase of between 5% and 15% (equating to a range of between 1482 cents and 1623 cents) in headline earnings per share ("HEPS") and an increase of between 15% and 25% (equating to a range of between 1679 cents and 1825 cents) in attributable earnings per a share (“EPS”) for the year ended 31 December 2014 when compared with the previously reported HEPS and EPS of 1411 cents and 1460 cents, respectively, for the year ended 31 December 2013. The EPS for the 2014 financial year was positively impacted by the transaction whereby the MTN Nigeria’s passive infrastructure was transferred to an associate. MTN Group has retained a 51% interest in the newly created entity and MTN Nigeria will lease-back the towers for its operations. 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 the year ended 31 December 2014.

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