MTN Group Limited - Further Cautionary Announcement - MTN invited to participate
in the IranCell consortium
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06)
Share code: MTN
ISIN ZAE000042164
("MTN")
Further Cautionary Announcement - MTN invited to participate in the IranCell
consortium
Shareholders are referred to the cautionary announcement released on SENS on 19
September 2005 indicating that MTN had entered into negotiations, which if
successfully concluded may have a material effect on the price of MTN"s
securities.
Shareholders are advised that MTN has concluded agreements with the local
shareholders of the Irancell consortium to become a 49% shareholder in Irancell.
IranCell has been declared the provisional licencee for the second GSM licence
in the Islamic Republic of Iran and has at present been awarded a temporary
licence by the Minister of Communications and Information Technology of the
Islamic Republic of Iran. The licence process requires the payment of an up-
front licence fee of Euro 300 million, and MTN has provided a payment guarantee
of Euro 300 million to the Minister of Communication and Information Technology
of the Islamic Republic of Iran in that respect.
This potential opportunity is in line with MTN"s vision of becoming the leading
telecoms operator in emerging markets, with the Middle East being the natural
extension of the MTN"s strong existing footprint in Africa.
The award of the licence is still subject to certain regulatory approvals and a
further announcement will be made in due course. Further Cautionary
Announcement - MTN invited to participate in the IranCell consortium
Accordingly, shareholders are advised to continue to exercise caution when
dealing in the MTN"s securities until a full announcement is made.
Fairland
20 October 2005
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 20/10/2005 07:56:27 AM Produced by the JSE SENS Department
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