MTN 201511020034A
Update to shareholders and further cautionary

MTN Group Limited

(Incorporated in the Republic of South Africa)

Registration number: 1994/009584/06

ISIN: ZAE000042164

Share code: MTN

(“MTN” or the “Company”)

UPDATE TO SHAREHOLDERS AND FURTHER CAUTIONARY

Further to the Stock Exchange News Service (“SENS”) announcement the Company issued on
30 October 2015 where shareholders were advised of the current status of the matter and to
exercise caution when trading in the Company’s shares, shareholders are further advised as follows:

As per our SENS announcement, the Company reiterates that engagements with the Nigerian
authorities are continuing and any material developments in these enagagements will be
communicated to shareholders through SENS.

Shareholders should specifically exercise caution when reacting to information on this matter which
has not been released by the Company.

Shareholders are therefore advised to continue to exercise caution when dealing in the Company’s
securities until a further announcement is made.


Fairland

2 November 2015

Sponsor

Deutsche Securities (SA) Propriety Limited

Date: 02/11/2015 01:33:00 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.