SENS Note - 20 October 2005

MTN to participate in the IranCell consortium

Shareholders are referred to the cautionary announcement released on SENS on 19 September 2005 indicating that MTN had entered into negotiations, which if successfully concluded may have a material effect on the price of MTN's securities. Shareholders are advised that MTN has concluded agreements with the local shareholders of the Irancell consortium to become a 49% shareholder in Irancell. IranCell has been declared the provisional licencee for the second GSM licence in the Islamic Republic of Iran and has at present been awarded a temporary licence by the Minister of Communications and Information Technology of the Islamic Republic of Iran. The licence process requires the payment of an up-front licence fee of Euro 300 million, and MTN has provided a payment guarantee of Euro 300 million to the Minister of Communication and Information Technology of the Islamic Republic of Iran in that respect. This potential opportunity is in line with MTN's vision of becoming the leading telecoms operator in emerging markets, with the Middle East being the natural extension of the MTN's strong existing footprint in Africa. The award of the licence is still subject to certain regulatory approvals and a further announcement will be made in due course. Further Cautionary Announcement MTN invited to participate in the IranCell consortium Accordingly, shareholders are advised to continue to exercise caution when dealing in the MTN's securities until a full announcement is made.

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