Cyprus

Bassel JamaleddineCEO

2

Country overview

Penetration 87% (Jun 07)Market sizing 1m (2011)Population 0.9m

Christian Orthodox, Islam, MaroniteReligion

3.5%Local Rates

Greek, English, TurkishLanguage

$13,235GDP/Capita

Demographics

$USD 2.49 = 1 CYPCurrency

2.2%Inflation

Economics

3

Telecommunications environment

• Pre-2004• Encumbent monopoly rights for fixed, mobile, and broadband

services and networks

• Liberalisation• Accession of Cyprus in European Union in 2004

• Spectrum allocated and licences issued for provision of e-communications

• Ministry of Communications and Works, Department of Electronic Communications (DEC), manages allocation of spectrum

• Office of the Commissioner for Electronic Communications and Postal Regulation (OCECPR), regulates markets and services

4

Market players

CyTa : State-ownedPrimeTel : TeleDev East LtdOTEnet : Germanos, CTC

OTEGlobe, OTEnet

CyTa : nationwidePrimeTel & OTEnet : main

urban areas

CyTa : 350KPrimeTel : 10.5K

OTEnet <5K

CyTa : 1961PrimeTel : 2003OTEnet : 2003

CyTA, PrimeTel, OTEnet (fixed line)

VodafoneGovernmentMTN 99%Shareholders

99.97% of population5 cities245 townsCoverage

530 (est)106K (Sep 07)Subscribers

19882004Launch date

Cytamobile –VodafoneMTN

5

Operational structure

CEOMr Bassel Jamaleddine

Chief Finance OfficerMr Joseph Iosifakis

Corporate Services

Sales DirectorMr Stathis Efstathiou

Chief Marketing Officer

Mr Dany Dweik

General Manger Technical

Mr Younes Chaaban

Chief Information Officer

Mr Dany Kattar

GM Customer CareMr Anwar El Helweh

Corporate Communication & Foundation

Vanessa Kyprianou

Company Secretary

Risk Business Management & Internal

Audit HOSRegulatory & Commercial

LegalMrs Evridiki Papadopoulou

6

Licence

Period

Fees

Spectrum

Coverage

• 2003• 20 years, renewable

• 21m€

• GSM 900MHz• GSM 1800MHz• 3G / UMTS

Year 2• 50% geographical coverageYear 10• 60% of 3G / UMTS

Hidden sites

7

Highlights

Subscribers/ARPU • MTN Cyprus surpassed the 100,000 subscriber milestone

• 15% market share

• Third mobile operator expected

• Multiple device ownership expected to increase mobile penetration

• Turned EBITDA positive after 3 years expected to turn PAT positive in 2008

(15.9)5EBITDA

55%Capex/ Revenue

93167.8Revenue

Jun 2006Jun 2007ZAR

99 10687

76

3939

3635.4

0

50

100

150

200

Q4 06 Q1 07 Q2 07 Q3 0733

34

35

36

37

38

39

40

MTN Subscribers ('000) ARPU (USD)

8

Infrastructure

93.51%% Population covered

355Total number of BTS’s

355Total number of sites

7Total number of BSC’s

1Total number of MSC’s / MSC-S’s

Aug2007

Technologybenchmarks

9

Distribution and productsGe

rman

os

MTNCustomer Service

Points (CSP)Cyprus Trading

Corporation (CTC)Te

lefon

e

Aelio

tis

Step

hani

s

Othe

r sma

ller

distrib

utors

MTN Cyprus

Direct Sales

Indire

ct Sa

les

(exc

lusive

Pre

paid)

Indirect Sales (Postpaid & Prepaid)

Virtual (currently with JCC)

(more channels coming soon)

Vending(coming soon)

• Developing virtual and vending distribution channels for greater presence and cost efficiency

• Average commission 140,000 CYP / month

• Products

• Corporate

• Locals

• Youth & expatriates

• Tourists & short term visitors

10

Looking forward

• Inflow of expatriate work force

• Partnership with alternative providers

• Strong relation with distributors

• MTN brand

• Cytamobile – Vodafone strong brand equity

• Readiness for offering quadruple play

• WiMax licences in 2008

• Regulator not pushing for competitive environment

• Site dismantling

ChallengesOpportunities

1111

www.mtn.com

investor_relations@mtn.co.za

13

Notice

The information contained in this document has not been verified independently. No representation or warranty express or implied is made as to and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Opinions and forward looking statements expressed represent those of the Company at the time. Undue reliance should not be placed on such statements and opinions because by nature, they are subjective to known and unknown risk and uncertainties and can be affected by other factors that could cause actual results and Company plans and objectives to differ materially from those expressed or implied in the forward looking statements.

Neither the Company nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (based on negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation and do not undertake to publicly update or revise any of its opinions or forward looking statements whether to reflect new information or future events or circumstances otherwise.

This presentation does not constitute an offer or invitation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.