SENS Note - 09 May 2005

MTN issues cautionary announcement

On 18 April 2005, MTN announced that it had made an application in the English High Court for an order for disclosure of documents and information, including the irrevocable undertakings signed by Celtel shareholders in respect of an offer by MTN and the terms on which such undertakings were held, from Celtel and Dr Mohamed Ibrahim, Celtel`s chairman and largest shareholder. On 22 April 2005, MTN announced that the Court had ordered Celtel and Dr Ibrahim to disclose to MTN certain documents and information and that MTN would be reviewing such documents and information to determine what further action, if any, to take. Further to the recent press speculation, MTN shareholders are advised that MTN has not finally decided on any course of action regarding the dealings between MTN, Celtel and Dr Ibrahim. MTN has reserved its rights to claim damages against Celtel and/or Dr Ibrahim. There can be no assurance as to the outcomes of any actions that MTN may decide to take. Accordingly, shareholders are advised to exercise caution when dealing in MTN securities until a further announcement is made.

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