SENS Note - 04 March 2004

Dealing In Securities By Directors

Mtn Group Limited - Dealing In Securities By Directors Release Date: 04/03/2004 16:55:01 Code(s): MTN MTN Group Limited - Dealing in Securities by Directors MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) Share code: MTN ISIN ZAE000042164 Dealing in Securities by Directors In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Securities Exchange South Africa, the following information is disclosed: Name of Director of subsidiary company : Y Muthien (Alternate Director: MTN Nigeria Communications Ltd) Date of Transaction : 3 March 2004 Issue Price (per share option) : R9.31 Amount of Share options exercised : 81 520 (20%) Class of Security once converted : Ordinary shares of 0.01 cents each Nature of Transaction : Exercising of MTN Group Ltd Share Options under the MTN Group Ltd Share Incentive Trust Sale Price : R32.1447 Nature of Interest : Beneficial Prior written approval in terms of paragraph 3.66 of the JSE Securities Exchange South Africa Listings Requirements has been obtained. 4 March 2004 Sandton Sponsor Merrill Lynch South Africa (Pty) Limited