SENS Note - 10 November 2005

MTN acquires 44% interest in Mascon Wireless

Shareholders are advised that MTN has acquired an effective indirect interest of 44% in Mascom Wireless Botswana (Pty) Ltd, a company incorporated and registered in Botswana. Mascom is the leading mobile operator in Botswana with a market share of over 70% and a subscriber base in excess of 440 000. The indirect equity interest in Mascom was acquired for an aggregate consideration of approximately USD128 million, implying an average valuation of USD300 million for 100% of the equity in Mascom. The above transaction has been effected with the full co-operation of the Econet Wireless Group, an existing indirect shareholder in Mascom. This announcement is not related to the cautionary announcement released on SENS on 20 October 2005.

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