MTN Reports H1 646162

JOHANNESBURG, South Africa -- Highlights of results

The results of the comparative period to 30 June 2006 do not include the results of the Investcom acquisition, which was concluded in July 2006.

MTN’s total subscribers rose 20% from 31 December 2006 to 48,157 000. The former Investcom operations recorded subscriber growth of 28% to 10,8 million from 31 December 2006, contributing 22% of the Group’s total subscribers at 30 June 2007.

The MTN Group recorded revenue growth of 69% to R34,2 billion (30 June 2006: R20,2 billion). Excluding the positive effect of foreign currencies strengthening against the Rand, Group revenue would have been 60%.

The Investcom operations increased revenue by 98% to R7,5 billion compared to the six months to June 2006 (unaudited). These operations contributed R2,8 billion (18,9%) to the West and Central Africa region (WECA) revenue and R4,7 billion (92%) to the Middle East and North Africa region (MENA) revenue for the period under review.

Nigeria and South Africa were the key contributors, recording increases of 51% and 15% in revenue respectively for the six-month period to 30 June 2006. Nigeria’s growth in local currency was 33%, and the strengthening of the Naira against the Rand contributed 18%. Nigeria reported high revenue growth due to increased subscriber numbers and newly introduced competitive offers in the last quarter of 2006.

MTN Group Ltd.