MTN Group - Cautionary Announcement                                             
MTN Group Limited                                                               
("MTN Group" or "the Company")                                                  
(formerly M-Cell Limited)                                                       
(Incorporated in the Republic of South Africa)                                  
Registration number 1994/009584/06                                              
Share Code: MTN                                                                 
ISIN Code: ZAE000042164                                                         
Cautionary announcement                                                         
The Company has been informed that a major unlisted shareholder is in the       
process of negotiating the sale of its shareholding in the MTN Group.  This sale
will not result in an offer to minority shareholders of the MTN Group.  The     
Company advises shareholders to exercise caution when dealing in MTN Group      
shares until a further announcement is made.                                    
Sandton                                                                         
18 November 2002                                                                
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited                                        
Date: 19/11/2002 07:40:00 AM Produced by the JSE SENS Department