SENS Note - 02 October 2006

MTN Group Limited - Awarding Of Share Options To A

MTN MTN MTN Group Limited - Awarding Of Share Options To A Director MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) Share code: MTN ISIN: ZAE000042164 Awarding of share options to a Director In terms of section 3.63 of the Listings Requirements of the JSE Limited we hereby give notice of the offer and acceptance of MTN Group Share Appreciation Rights allocated to a director of MTN Group Limited as mentioned below: Name of director: Mr Sifiso Dabengwa Date of offer: 31 May 2006 Class of Securities Ordinary shares of 1.01 cents each Date of acceptance of offer: 2 October 2006 Option strike price (per share): R56.83 Strike date: 31 May 2006 Amount of share options awarded: 134 800 Nature of transaction: Offer and acceptance of MTN Group Ltd Share Appreciation Rights Vesting periods: 20% of total allocation on 30 Nov 2007 20% of total allocation on 30 Nov 2008 30% of total allocation on 30 Nov 2009 30% of total allocation on 30 Nov 2010 Fairland 2 October 2006 Sponsor Merrill Lynch South Africa (Pty) Limited Date: 02/10/2006 05:12:19 PM Produced by the JSE SENS Department