SENS Note - 22 June 2005

MTN to acquire stakes in mobile network operators

In line with its vision to be the leader in telecommunications in developing markets and its commitment to growing shareholder value, the MTN Group has announced that it has entered into agreements to acquire significant stakes in two GSM networks in Cote d`Ivoire and Zambia, respectively. MTN Group has entered into an agreement to acquire a 51% stake in Loteny Telecom, trading under the name Telecel Cote d`Ivoire. Telecel Cote d`Ivoire is one of two operators in Cote d`Ivoire. The operation has in excess of 800 000 subscribers and a market share in excess of 46%. The transaction is subject to minor conditions, however, regulatory approval has been obtained. MTN Group has also entered into an agreement to acquire 100% of Telecel Zambia which is one of three network operators in Zambia. The acquisition of Telecel Zambia is subject to regulatory and competition approval from the relevant authorities. These transactions will further entrench the MTN Group`s footprint in west and southern Africa, where it already has operations in Nigeria, Cameroon, South Africa, Uganda, Rwanda and Swaziland. This would raise the MTN Group`s total number of operations to eight and increase the total subscriber base to over 16 million. Says Phuthuma Nhleko, MTN Group CEO: `We are very pleased with these transactions, which are in line with the MTN Group`s expansion strategy of consolidating our position on the continent. We are confident that the two transactions hold very positive growth prospects for the group.`

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