SENS Note - 25 March 2004

Dealing In Securities And/Or Derivatives By Direct

MTN Group Limited - Dealing In Securities And/Or Derivatives 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 AND/OR DERIVATIVES BY DIRECTORS In compliance with paragraph 3.63 - 3.74 of the Listings Requirements of the JSE Securities Exchange South Africa, the following information is disclosed: Name of Director : PF Nhleko Date of Transaction : 25 March 2004 Call Options on MTN Shares : 395 000 Nature of Transaction : Mr Nhleko entered into a derivative transaction with a Financial Institution in terms of which he has sold 395 000 call options Strike Price of Call Options : R9.31 Sale Price of Call Options : R22.51 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. 25 March 2004 Sandton Sponsor Merrill Lynch South Africa (Pty) Limited Date: 25/03/2004 05:55:02 PM Produced by the JSE SENS Department