SENS Note - 02 March 2007

MTN -- Unwind of hedge transaction by Newshelf

Shareholders are referred to previous announcements made by MTN from time to time regarding Newshelf and its shareholding in MTN. In particular, shareholders are reminded that in terms of the agreements for the funding of Newshelf entered into in 2003, Newshelf was obliged to enter into a hedging transaction in respect of 65.5 million MTN shares. Ancillary to this hedging transaction these MTN shares were also made subject to a script lending arrangement. This hedging and scrip lending arrangement is in the process of being naturally unwound in accordance with the terms of the original agreements under which they were put in place in 2003. This unwind will take place in a series of disposals over a period of a few months and as a result Newshelf will dispose of these 65.5 million MTN shares to the hedge providers. Subject to market conditions Newshelf may resolve to acquire some or all the shares to be disposed of from the Hedge Unwind. Requisite announcement will be made at that time.

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