MENA RegionAbdallah Homsi

MTN Syria CTIO

2

Middle East & North Africa (MENA)Footprint

63%8,025Total MENA

+ 16%2,592Syria (1)

+ 1188%1,983Iran (2)

+43%1,523Sudan (3)

+ 12%1,301Yemen (4)

+142%527Afghanistan (5)

+ 30%99Cyprus (6)

Growth % from Dec06Jun 07

Subscriber numbers (m)

+3% pts19%Mobile penetration

1.7%181mPopulation

17 %% to Group

1

2 5

3 4

6

3

Middle East & North Africa (MENA)Overview

• Strong subscriber growth

• Iran

• Afghanistan

• BTS Sites: 8,132

• Timely rollout in Iran, Sudan & Afghanistan

• All successfully MTN branded

4

Middle East & North Africa (MENA)CAPEX Rollout plan

36

75

64

353

206

2,149

Approved or committed

at30 Jun 2007

91

166

56

492

242

714

Actual6 months ended

Jun 2007

126Cyprus

288Afghanistan

82Yemen

839Sudan

451Syria

2,863Irancell

Approved or committed to31 Dec 2007

Rm

MTN Syria green field site

5

Middle East & North Africa (MENA)Regulations and licences

• 900 MHz• 1800 MHz• 3G

• 21m€• 20 Years

• Dec 2003• 20 Years• Renewable thereafter

Cyprus

• 900 MHz• 1800 MHz

• US$ 40m• 15 Years

• Oct 2005• 15 Years• Renewable for additional 10

years

Afghanistan

• 900 MHz• E-900 MHz

• US$10m• 15 Years• No revenue share

• Jul 2000• 15 Years• Renewable thereafter

Yemen

• 900 MHz• 1800 MHz

• US$150• 15 Years• Profit share 2.5% from PAT

• Oct 2004• 15 Years• Renewable thereafter

Sudan

• 900 MHz• 1800 MHz

• Upfront US$20m• Revenue share:

Year 1 to 3 - 30% Year 4 to 6 - 40%Year 7 to 15 - 50%

• Jun 2002• 15 Years BoT contract• Renewable, 3 years at discretion

of licencing authority

Syria

• 900 MHz• 1800 MHz

• Initial fee 300m€• Each contractual year 28.1%

• Nov 2005• 15 Years• Renewable 2 periods of 5 years

Iran

SpectrumLicence fees(High level)

Period

6

MTN IrancellMarket dynamics

• Strong subscribers growth >3.2m in August 2007

• Improved distribution channels (3900 dealers, service centersin more than 180 cities)

• Growing content business through GPRS

• Pursuing ISP licence and Dark Fibre

• New licence permitted to be issued from July 2008(2 years exclusivity)

Market share 12%

Launched Oct 2006

Market sizing46.3m (2011)

Shareholding 49%

Penetration24%

Population70.7m

7

MTN IrancellInfrastructure

5.6mTotal EOY active subscribers

50%% Population covered

2,846Total number of BTS’s

1,423Total number of sites

50Total number of BSC’s

5Total number of MSC’s / MSC-S’s

Aug2007

Technologybenchmarks

3%% land

8

MTN IrancellRollout plan

18%

3%

63%

3%

13%

NSS VAS BSS TX Other

Anticipate spending 75% of budget

TehranCall Centre and Network Management Centre

9

IrancellLooking forward

• Demand for new innovations

• Large addressable market

• Significant MTN experience

• Youthful population

• Underdeveloped legal / judicial environment

• Reliance on third party transmission

• Unpredictable and high profile political environment

• Well positioned competitor

• US embargo

ChallengesOpportunities

10

Market share 45%

Launched Feb 2002

Market size8.6m (2011)

Shareholding75%

Penetration30%

Population19.1m

MTN SyriaMarket dynamics

• Extensive 2G network quality and customer service

• More than 3000 dealers ensuring reach to all regions

• 3G trials in 2 main cities

• Internet penetration of 7% growth limited bandwidth and poor infrastructure

• Shortage of skilled resources

• Acceptable transmission and now power infrastructure

• Supplies available locally, no restriction except the US embargo

11

MTN SyriaInfrastructure

2.9mTotal EOY active subscribers

98%% Population covered

2,763Total number of BTS’s

2,035Total number of sites

32Total number of BSC’s

14Total number of MSC’s / MSC-S’s

Aug2007

Technologybenchmarks

77%% land

12

MTN SyriaRollout plan

55%

29%

16%

EquipmentCivil work for NWCustoms & stamps fees

Anticipate spending 80% of budget

MTN Syria challenges

13

SyriaLooking forward

• Growing market

• Data services

• ISP licence, VoIP, Wimax

• BoT conversion to licence

• Entry of 3rd operator

• Managed market share

• Well positioned competitor

• US embargo

ChallengesOpportunities

14

MTN SudanMarket dynamics

• Strong competition

• 2 GSM operators – 3rd operator by mid 2009

• 1 CDMA operator

• Improved market share to 29%

• 3G service launched in greater Khartoum

• Aggressive launch of new products

• Per second billing, 3G data cards, voice sms, credit transfers

Market share 27%

Launched Sep 2005

Market sizing 12.5m (2011)

Shareholding85%

Penetration15%

Population37m

* Till Aug 2007

15

MTN SudanInfrastructure

2.2mTotal EOY active subscribers

42.25%% Population covered

1,053Total number of BTS’s

840Total number of sites

38Total number of BSC’s

4Total number of MSC’s / MSC-S’s

Aug2007

Technologybenchmarks

3.08%% land

16

MTN SudanRollout CAPEX 2007

36%

64%

Telecom equipment & IS

Site construction

Anticipate spending 100% of budget

MTN Sudan VSAT

17

SudanLooking forward

• Rapidly developing market

• Coverage expansion

• Data services

• Strong competition – Mobitel, Sudani

• Rollout challenging in Darfour, South

• Possibility of additional operators

• Local skill shortage

• US embargo

ChallengesOpportunities

18

Funding

• Strong cash flow sufficient to cover CAPEX• Local capacity for additional funding120558Yemen

• Group funding• 3rd party project finance to replace in due course

• Group funding

• Strong cash flow sufficient to cover additional CAPEX• Purchase of forex a challenge• Limited local capacity• Group funding support

• Group funding• 3rd party project finance to replace in due course

• Group and vendor funding• 3rd party funding continues to be explored

Commentary

24164Afghanistan

12710Cyprus

4481,358Syria

845640Sudan

2,863Iran

CAPEXEBITDA*Rm

* 6 months to Jun 07 x 2

1919