MTN04 201510300049A
Ratings of MTNH revised by Standard & Poors (“S&P”) and outlook revision by Moody’s Investors Service (“Moody’s”)

MOBILE TELEPHONE NETWORKS HOLDINGS PROPRIETARY LIMITED
Incorporated in the Republic of South Africa
(Registration number 1993/001411/07)
Instrument Code: MTN04 ISIN: ZAG000078619
(“MTNH”) or (“the Company”)


Ratings of MTNH revised by Standard & Poors (“S&P”) and outlook revision by Moody’s Investors
Service (“Moody’s”)

In terms of section 4.25 of the JSE Debt Listing Requirements, notice is hereby given that:

S&P on 29 October 2015 downgraded by one notch MTN’s long-term corporate credit rating to BBB- with
a negative credit watch from BBB. Additionally, the South Africa national scale ratings were reduced to
zaAA- from zaAA+.

Moody’s on 29 October revised the outlook on MTN’s Baa2 rating to negative from stable. In addition,
MTN's Baa2 global issuer rating, the A1.za national scale issuer rating and the Baa2 rating on the senior
unsecured notes issued by MTN (Mauritius) Investments Limited, were affirmed.

Fairland
30 October 2015

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 30/10/2015 02:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.