SENS Note - 26 September 2003

MTN announces changes in Newshelf holding

Shareholders are referred to the announcement by Newshelf dated 20 Dec 02 regarding the acquisition by Newshelf of approximately 18.7% of the issued share capital of the MTN as well as the announcement by the MTN dated 11 Apr 03 detailing the participation by MTN executive directors at the time in the economic benefit attaching to the participating redeemable preference share issued by Newshelf to the Public Investment Commissioner as part of the funding arrangements of the Acquisition. Mr P L Zim, an MTN executive director, resigned as a director and executive of the company effective 30 Sep 03. His participation in such B participating pref share acquired by him for a consideration of R 921 125 was offered, in terms of pre-emptive rights and subject to the approval by the PIC, to and accepted by the remaining MTN executive directors namely Mr P F Nhleko, Ms I Charnley, Mr R S Dabengwa and Mr R D Nisbet for a total value of R 1.01m as follows: * PF Nhleko R 325 942 * I Charnley R 228 228 * RS Dabengwa R 228 228 * RD Nisbet R 228 228 * Total R 1 010 626

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