SENS Note - 31 July 2002

M-Cell has exposure to CNA

M-Cell has an exposure to CNA arising out of transactions between M-Tel, MTN and CNA. The directors are taking legal advice, including the advice of senior counsel, on the group's potential exposure to CNA, and will continue to take appropriate steps to mitigate such exposure. A further announcement will be made once the position of CNA has been cleared and the effect of the legal advice considered. Shareholders should exercise caution in their dealings in M-Cell shares until a further announcement is made.

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