SENS Note - 28 July 2015

MTN - Trading Statement

MTN is currently in the process of finalising its financial results for the six-month period ended 30 June 2015. These results will be announced on Wednesday 5 August 2015. Issuers may publish a voluntary trading statement if the expected differences are less than 20% but which are viewed by the issuer as being important enough to be made the subject of a trading statement. Shareholders are therefore advised that MTN expects a decrease of between 10% and 15% (equating to a range of between 656 cents and 620 cents) in basic headline earnings per share ("HEPS") and a decrease of between 10% and 15% (equating to a range of between 658 cents and 621 cents) in attributable earnings per share (“EPS”) for the period ended 30 June 2015 when compared with the previously reported HEPS and EPS of 729 cents and 731 cents per share, respectively, for the period ended 30 June 2014. Adverse exchange rate (and cross rate) movements impacted both the rate at which revenues and EBITDA were translated as well as resulting in increased forex losses when compared to the prior comparable period. 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 period ended 30 June 2015.

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