THE NATIONAL EMPOWERMENT FUND ASONGE SHARE SCHEME OFFER INSERT LOGOS by gyvwpsjkko

VIEWS: 620 PAGES: 30

									  This document is important and requires your immediate attention.
  If you are in any doubt as to the action you should take, please consult your broker, banker,
  accountant, attorney or other professional adviser immediately.
  Further information can be obtained from the NEF Contact Centre on 0860 123 NEF (633).
  The caller will be charged the local call rate regardless of the call location in South Africa or where it
  is answered (this excludes calls from cellular phones).




               THE NATIONAL EMPOWERMENT FUND
                 ASONGE SHARE SCHEME OFFER


  An invitation to Individuals and Black Groups by the National Empowerment Fund Trust ("NEF") to
  participate in the Asonge Share Scheme Offer




     Opening date of the Asonge Share Scheme Offer:                                                        23 July 2007 at 08:00
     Closing date of the Asonge Share Scheme Offer:                                                     16 August 2007 at 12:00




     Date of issue:                                                                                                    23 July 2007


                                               INSERT LOGOS
The Asonge Share Scheme Offer is not intended for and will not be made to investors outside of South Africa.


Prospective purchasers of Shares in terms of the Asonge Share Scheme Offer should ensure that they understand fully the
nature of investing in equities and the extent of their exposure to risks. Prospective purchasers should consider the
suitability of investing in the Asonge Share Scheme Offer as an investment, in the light of their own circumstances and
financial condition. See Risk Factors on page 29. The purchase of Shares will result in contractual obligations being
incurred by Investors. Investors should understand these contractual obligations prior to accepting the Asonge Share Scheme
Offer.
             Overview of the Asonge Share Scheme Offer


The following summary does not purport to be complete and is taken from, and is
qualified by, the remainder of this Offer Document which includes the Terms and
Conditions of the Asonge Share Scheme Offer. Terms not otherwise defined in this
summary have the same meaning as used in the Terms and Conditions.
Accordingly, these questions and answers must not be read in isolation and are no
substitute for a thorough reading of the entire document.
Should you require more information on the Asonge Share Scheme Offer, please contact
the NEF Contact Centre on 0860 123 NEF (633). The caller will be charged the local
call rate; regardless of the call location in South Africa or where it is answered (this
excludes calls from cellular phones).
1.   WHAT ARE THE OBJECTIVES OF THE ASONGE SHARE SCHEME
     OFFER?
     The NEF has a mandate to facilitate the redressing of economic inequality which
     resulted from past unfair discrimination on the basis of race against Black People.
     The Asonge Share Scheme Offer is intended to fulfil this mandate by:
           providing Historically Disadvantaged Persons with the opportunity of directly
           or indirectly acquiring Shares.
           encouraging and promoting savings investments and meaningful economic
           participation by Black People.
           promoting the universal understanding of equity ownership amongst Black
           People.
           encouraging the development of a competitive and effective equities market
           inclusive of all persons in South Africa.
2.   WHO CAN PARTICIPATE IN THE NATIONAL EMPOWERMENT FUND
     ASONGE SHARE SCHEME OFFER?
     Black People comprising Black Individuals and Black Groups located in South
     Africa.
3.   WHEN WILL THE ASONGE SHARE OFFER HAPPEN?
     The Asonge Share Scheme Offer opens at 08:00 on 23 July 2007 and closes at
     12:00 on 16 August 2007.
4.   WHAT IS THE BENEFIT OF BUYING SHARES THROUGH THE
     ASONGE SHARE SCHEME OFFER?
     You will receive the Shares at a 20% discount of the previous 30-day volume-
     weighted average traded price of the Shares on the JSE as at 17h00 on Friday,
     20 July 2007. Furthermore, if you hold the Shares, uninterrupted, for a 24 month



                                                                                           2
     period you will be allocated one Bonus Share for every ten Shares held at the end of
     that period.
5.   WHAT ARE THE MINIMUM AND MAXIMUM AMOUNTS WHICH I
     MAY INVEST?
     >       A Black Individual and a Black Group may invest a minimum of R2 000.
     >       A Black Individual may invest a maximum of R50 000.
     >       A Black Group may invest a maximum of R100 000.
6.   HOW DO I APPLY FOR MY OFFER SHARES?
         You must first obtain an original Application Form (either individual or groups)
         from your nearest participating Post Office branch. Before completing the
         Application Form ensure that you have read the Terms and Conditions of the
         Asonge Share Scheme Offer as they appear in the Offer Document (which is also
         available from your nearest participating Post Office branch or can be
         downloaded from the NEF website: www.nefcorp.co.za).
         Once you have completed the Application Form in full, submit such form together
         with the required documentation as listed on the form and your payment to your
         nearest participating Post Office branch.
         Your Application Form and required documents will be pre-examined at the Post
         Office and may be rejected, if the Application Form is not completed in full, or if
         all the necessary documentation including proof of payment is not attached.
         Payments received in such circumstances will be returned to you by way of
         electronic transfer. You shall bear the risk in respect of such EFT. No
         interest will be paid on any amounts refunded to you.
         All original, signed and fully completed Application Forms including proof of
         payment must be hand delivered to your nearest participating Post Office branch
         on or before 12:00 on 16 August 2007 which is the Closing Date of the Asonge
         Share Scheme Offer.
         No late Application Forms will be accepted. Postal applications will not be
         accepted.
         The trustees of the NEF Trust reserve the right to verify that participants are
         Black Individuals or Black Groups as defined in the Offer Document. This is to
         ensure that only qualifying Investors participate in the Asonge Share Scheme
         Offer.
7.   HOW CAN I PAY FOR MY OFFER SHARES?
     You can pay for your Shares:
     >       by bank-issued cheque, which must be attached to the Application Form. The
             cheque must be crossed not transferable with the words or bearer deleted,
             and must be made payable to SA Post Office . The words Asonge Share
             Scheme Offer must be written on the back of the cheque. If the cheque is
             dishonoured, the application will be rejected; or
     >       by debit card, presented at the Post Office; or


                                                                                               3
     >     by cash, paid at the Post Office; or
     >     by EFT (electronic funds transfer) payment may either be made by direct
           transfer or by internet transfer from the applicant s bank subject to the
           following:
           >     only one transfer may be made in respect of a single application;
          >     payment must be made to the following bank account:
                SA Post Office
                Account number: 00053861112
                Branch code:         460-005
                Reference Details: for Black Individuals - SA identity number
                                   for Black Groups SA identity number of the
                                   authorised representative
     >     the payment must contain your SA identity number as a reference when
           making an EFT/internet payment;
     >     a copy of the transfer confirmation must be handed in together with the
           Application Form at the Post Office, who will provide a receipt to the
           applicant. Applicants must ensure that they receive a receipt as the transaction
           will otherwise be deemed not to have been completed properly. Any
           subsequent recall of funds or any dishonouring of any cheque by the
           applicant s bank will be regarded as a dishonoured payment, which will
           disqualify such application;
     >     all EFT payments into the Post Office account need to be completed on or
           before 12:00 on 15 August 2007 in order to allow sufficient time to hand
           deliver the relevant documentation at any Post Office branch before 12:00 on
           16 August 2007. No EFT payments will be accepted after 12:00 on 15
           August 2007.
     Please note: Only one form of payment may be used for each application and
     only one payment tendered per application form. Credit card payments will
     NOT be accepted.
     The trustees of the NEF Trust have the sole and absolute discretion whether or not
     to accept any payment or undertakings or guarantee of payment made by an
     applicant for the purposes of the Asonge Share Scheme Offer.
8.   WILL I RECEIVE THE TOTAL NUMBER OF OFFER SHARES WHICH I
     APPLIED FOR?
     The number of Shares which you will receive will only be determined after the
     Asonge Share Scheme Offer has closed and the allocation process completed. The
     allocation process will take place in accordance with an absolute discretion on the
     part of the NEF Trust, but factors such as the number of applications received, the
     geographic spread of applicants, the percentage of applicants who are female, the
     spread between Black Individuals and Black Groups and so on will be considered.




                                                                                           4
9.    WHEN WILL I RECEIVE THE OFFER SHARES ALLOCATED TO ME?
      If your application is accepted, and subject to the allocation process described in the
      Terms and Conditions, a share allocation statement will be posted to the postal
      address as shown on your application form within 45 (forty five) Business Days
      after the Closing Date of the Asonge Share Scheme Offer.
10.   WHAT HAPPENS TO MY APPLICATION IF THE NUMBER OF OFFER
      SHARES APPLIED FOR EXCEEDS THE NUMBER MADE AVAILABLE
      BY THE NEF TRUST?
      The number of Shares you applied for will be reduced or scaled back by means of a
      basis of allocation which rests upon the sole and absolute discretion of the NEF
      Trust. If you have applied and paid for more Shares than eventually allocated to
      you, you will be refunded the excess amount by EFT and you shall bear the risk in
      respect of such transfer. No interest will be paid on any monies refunded.
11.   WHY IS THERE A MINIMUM INVESTMENT PERIOD?
      The 12 month Minimum Investment Period serves to allow Investors a reasonable
      period of time to participate in the earnings and potential share price growth of the
      Shares.
12.   WHY IS THERE AN INVESTMENT PERIOD?
      The 24 month Full Investment Period encourages Investors to remain participants in
      the Asonge Share Scheme Offer by allocating one Bonus Share for every ten Shares
      held on the Asonge Register on an uninterrupted basis for the full 24 month period.
      In other words, Investors who sell any of their Shares following the Minimum
      Investment Period, shall only receive Bonus Shares in relation to the Shares those
      Investors have retained on the Asonge Register for the Full Investment Period.
13.   IS THERE CAPITAL PROTECTION?
      No, there is no capital protection. The Shares purchased through the Asonge Share
      Scheme Offer will be subject to all the investment risks associated with investing in
      a listed equities market. You can read more about these risk factors on page 29 of
      the Offer Document.
14.   MAY I EXIT THE ASONGE SHARE SCHEME OFFER DURING THE
      MINIMUM INVESTMENT PERIOD?
      No, all Investors will be locked in for a minimum of 12 months.
15.   WHAT HAPPENS IF I BECOME INSOLVENT AND MY ESTATE IS
      SEQUESTRATED INVOLUNTARILY DURING THE MINIMUM
      INVESTMENT PERIOD?
      Your estate will be permitted to transfer your Shares to a Black Person nominated
      by your estate and approved by the NEF Trust.




                                                                                              5
16.   CAN I TRANSFER MY OFFER SHARES TO ANY THIRD PARTY
      DURING THE MINIMUM INVESTMENT PERIOD?
      No. After the Minimum Investment Period you may freely transfer or sell some or
      all of the Shares allocated to you on the Asonge Register of beneficial owners, but if
      this occurs prior to the expiry of the 24 month Full Investment Period, you will lose
      your entitlement to the Bonus Shares in relation to any shares that you have not held
      on the Asonge Register on an uninterrupted basis for the full 24 month period.
17.   CAN I PLEDGE MY OFFER SHARES AS SECURITY?
      During the Minimum Investment Period, Investors are precluded from transferring,
      selling or using the Shares as security.
18.   WHAT ARE THE RIGHTS OF MY ALLOCATED OFFER SHARES?
      You will become the beneficial owner of the Shares, with the same rights to vote
      and to dividends as ordinary MTN Shareholders. At the end of the Minimum
      Investment Period, you will have the right to transfer the Shares into your name and
      take full title to the Shares, but if you do so before the end of the Full Investment
      Period, you will lose your entitlement to Bonus Shares. At the end of the Full
      Investment Period, the Shares and any Bonus Shares you have earned will be
      transferred into your name unless otherwise agreed.
19.   WILL I BE ENTITLED TO RECEIVE A DIVIDEND ON MY OFFER
      SHARES?
      Yes. Once you have received your share allocation statement with effect from the
      Implementation Date you will, as beneficial owner of the Shares, be entitled to
      receive dividends as and when they are declared by MTN.
20.   WHAT ARE MY VOTING RIGHTS?
      As a holder of the beneficial rights in the Shares, you will be entitled to vote on all
      matters pertaining to MTN shareholders in accordance with the Terms and
      Conditions.
21.   WHO ADMINISTERS THE ASONGE SHARE SCHEME REGISTER?
      Computershare has been appointed as share administrator for the duration of the
      Asonge Share Scheme Offer.
22.   HOW WILL I TRADE MY OFFER SHARES AFTER THE EXPIRY OF
      THE MINIMUM INVESTMENT PERIOD?
      As your Allocated Shares registered on the Asonge Register will be administered by
      Computershare, you can make use of Computershare s share dealing service
      provided.
23. ARE THERE ANY HIDDEN COSTS IN APPLYING FOR THE ASONGE
    SHARE SCHEME OFFER?
      There are no hidden commissions or incentives for which you will be liable. In
      order to reduce your costs, the NEF Trust will pay some initial costs (such as UST
      in relation to transferring the Shares or Bonus Shares into your name) for you, and
      costs relating to the establishment and operation of a Share account during the


                                                                                                6
      period that the Shares in which you have a beneficial interest in are documented on
      the Asonge Register as more fully described in the Offer Document. Thereafter any
      costs, such as trading costs or ongoing costs in relation to CSDP accounts and the
      like will be for your account. Any costs in relation to the sale, transfer, dealing in
      or the encumbrance of any Share or Bonus Share will be for your own account.
24.   WHO CAN HELP ME COMPLETE THE APPLICATION FORM?
      You can get assistance at any participating Post Office branch or you may contact
      the NEF Contact Centre on 0860 123 NEF (633). You will be charged the local
      call rate regardless of the call location in South Africa (this excludes calls from
      cellular phones).
25.   WHO CAN GIVE ME MORE INFORMATION ABOUT INVESTING IN
      THE ASONGE SHARE SCHEME OFFER?
      Please contact your broker, banker, accountant, attorney or other professional
      adviser should you require any investment or other advice.




                                                                                            7
                               Table of Contents


                                                                  Page




Overview of the Asonge Share Scheme Offer                         2

Terms and Conditions of the Asonge Share Scheme Offer             9

Corporate Information on NEF Trust                                25

Corporate Information on MTN                                      28

Risk Factors                                                      29

Corporate Information Relating to the Asonge Share Scheme Offer   30




                                                                         8
        Terms and Conditions of the Asonge Share Scheme Offer


The following is the text of the terms and conditions (the Terms and Conditions ) of the
Asonge Share Scheme Offer.
Definitions and Interpretations
    Allocated Shares         the Shares allocated to Investors pursuant to the Terms and
                             Conditions;
    Application Form           the original, pre-printed and individually bar-coded
                               application form to be completed by Investors applying to
                               participate in the Asonge Share Scheme Offer;
    Asonge Register            the register of Investors holding beneficial interest in and
                               to the Shares through participating in the Asonge Scheme
                               Offer;
    Asonge Share Scheme        the offer by the NEF Trust to sell the Shares to potential
   Offer                       Investors on the terms set out in the Terms and
                               Conditions;
    BBBEE Act                  the Broad-Based Black Economic Empowerment Act,
                               No. 53 of 2003 as amended from time to time;
    Black Company              a company registered in South Africa that has savings and
                               investments as its core function that is both a Black
                               Majority Owned Company and simultaneously a Black
                               Majority Controlled Company , and a reference to
                                company shall be applied equally to a close corporation
                               or other such incorporated entity;
    Black Entity               a trust, partnership, joint venture, syndicate, stokvel or
                               other such unincorporated entity or association that has
                               savings and investments as its core function, located in
                               South Africa, which has as its beneficiaries and trustees
                               and participants only Black People that has savings and
                               investments as its core function;
    Black Group                Black Companies and Black Entities;
    Black Individual           means an individual, over the age of 18, resident in South
                               Africa, who falls within the definition of Black People
                               and who is a citizen of South Africa;
    Black Majority             in relation to any company or close corporation or other
   Controlled Company          incorporated entity incorporated in accordance with the
                               laws of South Africa and having a shareholding,
                               membership or equivalent in which one or more Black
                               Person:


                                                                                            9
                  -    controls or control, on an effective flow-through
                       basis (as such term is contemplated in the codes of
                       good practice issued in terms of the BBBEE Act), in
                       excess of 50% of all exercisable voting rights in
                       relation to the ordinary shares or other equity
                       interest or equivalent of such company, exercisable
                       by members in general meeting or otherwise; and
                  -    is or are entitled to appoint a majority of the
                       directors of the board of directors or other
                       governing body of such company, or to appoint
                       directors or similar representatives having a
                       majority of the votes exercisable at meetings of the
                       boards of directors or other governing body of such
                       company;
 Black Majority   in relation to any company, close corporation or other
Owned Company     incorporated entity which has savings and investments as
                  its core function, incorporated in accordance with the
                  laws of South Africa and having a shareholding,
                  membership or equivalent in which one or more Black
                  Person:
                  -    beneficially owns or own, on an effective flow-
                       through basis (as such term is contemplated in the
                       codes of good practice issued in terms of the
                       BBBEE Act and which, for the avoidance of doubt,
                       excludes measurement utilising the modified flow-
                       through basis), in excess of 50% of the ordinary
                       shares or other equity interest or equivalent of such
                       company; and
                  -    is or are entitled to in excess of 50% of all economic
                       interest in relation to such ordinary shares or other
                       equity interest or equivalent of such company;
Black People or   has the meaning ascribed to it in the BBBEE Act
Black Person      (Africans, Coloureds and Indians), qualified as including
                  only natural persons who are citizens of the Republic of
                  South Africa by birth or descent, or are citizens of the
                  Republic of South Africa by naturalisation:
                  (a)     occurring before the commencement date of the
                          constitution of the Republic of South Africa Act,
                          1993; or
                  (b)     occurring before the commencement date of the
                          Constitution of the Republic of South Africa Act,
                          1993, but who, without the apartheid policy would
                          have qualified for naturalisation before then;




                                                                          10
Bonus Share               the share which will be awarded to an Investor for every
                          10 (ten) Shares held without interruption by such Investor
                          for the full 24 month Full Investment Period;
Business Day              a day which is not a Saturday, Sunday or an official
                          public holiday in South Africa;
Closing Date              the closing date and time of the Asonge Share Scheme
                          Offer, being 12:00pm on 16 August 2007;
Companies Act or          the South African Companies Act, No. 61 of 1973, as
the Act                   amended;
 Constitutional           a Certificate to Commence Business, or a Trust Deed,
Documents                 or an agreement of incorporation or similar document;
 Corporate Action         means any actions taken by MTN which affects Investors
                          in terms of any entitlements or notifications in respect of
                          the Shares or Bonus Shares;
CSDP                      central securities depository participant;
 FICA                     the Financial Intelligence Centre Act, No. 38 of 2001, as
                          amended which requires all financial institutions to verify
                          client information, including a client s identity and
                          residential address;
 Full Investment Period the period commencing from the Implementation Date
                        and ending 24 months from the Implementation Date;
 Historically Disadvan-   means, as defined in the NEF Act, those persons or
taged Persons             categories of persons, who prior to the new democratic
                          dispensation marked by the adoption and coming into
                          force of the Constitution of the Republic of South Africa
                          Act, 1996, were disadvantaged by unfair discrimination
                          on the basis of their race and includes juristic persons or
                          associations owned and controlled by such persons,
                          provided that such person is a resident of and is located in
                          South Africa;
 Implementation Date      the date of allocation of the beneficial rights in and to
                          Shares to the Investor and recordal of such interests in the
                          Asonge Register pursuant to the Asonge Share Scheme
                          Offer, as provided for in this Offer Document;
 Income Tax Act           the Income Tax Act, No. 58 of 1962, as amended;
 Investors                Black Individual or Black Groups as the case may be;
JSE                       JSE Limited (registration number: 2005/022939/06), a
                          public company incorporated in South Africa;
MTN                       MTN Group Limited (registration number
                          1994/009584/06), a public company incorporated in
                          accordance with the laws of the Republic of South Africa;


                                                                                    11
 Minimum Investment         a period of 12 (twelve) months from the
Period                      Implementation Date and during which the Investors are
                            precluded from trading or dealing in the Shares;
NEF Act                     the National Empowerment Fund Act No. 105, 1998;
NEF Trust                   National Empowerment Fund Trust, established in terms
                            of the NEF Act;
 Offer Document             this document comprised of, inter alia, the Terms and
                            Conditions and the Application Form relating to the
                            Asonge Share Scheme Offer;
Offer Price                 the price at which the Shares are offered to Investors,
                            being a 20% (twenty percent) discount of the previous 30
                            (thirty) day volume weighted average traded price of the
                            Shares on the JSE at 17h00 on Friday, 20 July 2007;
Opening Date                the opening date of the Asonge Share Scheme Offer,
                            being 23 July 2007;
Post Office                 South African Post Office Limited (registration number
                            1991/005477/06), a public company incorporated in
                            South Africa, wholly owned by the South African
                            Government;
 Proposed Investment        the total amount tendered by an applicant in cash or
Amount                      specified on the applicant s bank issued cheque for
                            purposes of acquiring beneficial right in and to the Shares
                            in accordance with these Terms and Conditions. Cash
                            shall include electronic funds transfers and payments by
                            debit cards;
Rand or R                   the South African Rand, the official currency of South
                            Africa;
SARS                        the South African Revenue Services;
SENS                        the Securities Exchange News Service of the JSE;
Shares                 1)        where the Investor s rights and interest in a Share
                                 are recorded in the Asonge Register, shall mean the
                                 beneficial interest in and to such Share ; and
                       2)        in all other instances shall mean the ordinary Shares
                                 in the issued share capital of MTN being sold by the
                                 NEF Trust and being applied for by Investors in
                                 terms of the Asonge Share Scheme Offer;
South Africa                the Republic of South Africa;
Terms and Conditions        the terms and conditions in terms of which the Asonge
                            Share Scheme Offer will be regulated and as set out in the
                            Offer Document;
Share Administrator         Computershare Investor Services 2004 (Proprietary)


                                                                                     12
                                Limited, registration number 2004/003647/07;




    UST                         uncertificated securities tax payable pursuant to the
                                Uncertificated Securities Tax Act No. 31, 1998.
Unless a contrary intention clearly appears, words in the singular include the plural and
vice versa.




                                                                                            13
1.      THE OFFER
1.1       Offer and Sale
          An offer of the sale of the beneficial rights to and in the Shares is hereby made
          to potential Investors, by the NEF Trust in terms of the Terms and Conditions.
          Qualifying Investors hereby accept that there is no capital guarantee in terms of
          the Asonge Share Scheme Offer being made to them. In other words, Investors
          are not guaranteed of receiving the initial capital invested as the Shares will be
          subject to ordinary market influences (see Risk Factors on page 29 in this
          regard). A Proposed Investment Amount of up to R50 000 per Black Individual
          and up to R100 000 per Black Group may be invested by Investors in
          accordance with these Terms and Conditions.
          Up to [insert] Shares may, at the NEF Trust s discretion, be sold in terms of this
          Asonge Share Scheme Offer. The Offer Price for purposes of the Asonge Share
          Scheme Offer shall be based on a 20% discount of the previous 30 (thirty) day
          volume weighted average traded price of the Shares on the JSE at 17h00 on
          Friday, 20 July 2007.
          The Investors shall bear the risk of any failure or delay in any settlement system
          through which payments or Shares are to be paid or delivered pursuant to these
          Terms and Conditions.
1.2       Title to the Shares
1.2.1          Once the Asonge Share Scheme Offer has been accepted by an Investor
               and a sale of the beneficial rights in and to the Shares has been completed
               in accordance with these Terms and Conditions, the NEF Trust will appear
               in the sub-register to MTN s register of members as the legal owner of the
               Shares (subject to 1.2.32 below). Each Investor shall however, in
               accordance with these Terms and Conditions obtain the beneficial rights in
               and to the Shares entitling such Investor to the equivalent rights such
               Investor would have received had the Shares been held in the Investors
               own name (subject to the Terms and Conditions).
1.2.2          Upon the expiry of the Minimum Investment Period, the Investor may
               request:
1.2.2.1                 the NEF Trust to retain such Investor s beneficial rights in and to
                        the Shares as reflected on the Asonge Register with a view to
                        accruing Bonus Shares; or
1.2.2.2                 the NEF Trust to sell the beneficial rights in and to some or all of
                        the Shares held by the NEF Trust on behalf of such Investor and
                        as reflected on the Asonge Register and to further place the
                        proceeds of such sale into the Investor s bank account in which
                        case , Bonus Shares will only accrue in respect of the Shares
                        retained; or




                                                                                          14
1.2.2.3                 the NEF Trust to register and transfer the beneficial rights in and
                        to the Shares held by the NEF Trust on behalf of such Investor
                        and as reflected on the Asonge Register into the Investor s own
                        name, in which case the Investor will forfeit its right to any Bonus
                        Shares.

1.2.3          Upon the expiry of the Full Investment Period, an Investor may request:
1.2.3.1               the NEF Trust to register and transfer the beneficial rights in and to
                      the Shares into the Investor s own name, in which event the Share
                      Administrator shall open a CSDP account in the name of the
                      Investor in accordance with condition 1.12.

1.3       Dividends
1.3.1          The NEF Trust hereby cedes to the Investor on the date on which
               dividends that may accrue are declared by MTN, antecedently and on an
               outright transfer basis all rights, title and interest in and to the dividends in
               respect of the Shares in which the Investor holds the beneficial rights and
               interests as reflected on the Asonge Register.
1.3.2          The Share Administrator shall procure the payment of the dividends
               declared by MTN and referred to in 1.3 above in respect of the Allocated
               Shares, into the Investor s bank account, as stipulated in the Application
               Form completed by the Investor. The payment of such dividends shall be
               made in accordance with the settlement procedures of STRATE following
               receipt of such dividends by the Share Administrator from MTN.
1.4       Lock-In Period
          Investors hereby agree that they will be precluded from trading in, transferring,
          disposing of or encumbering the Allocated Shares during the Minimum
          Investment Period. Investors will, following the expiry of the Minimum
          Investment Period, be free to trade in the Allocated Shares but should take note
          of condition 1.5 below regarding Bonus Shares.


1.5       Award of Bonus Shares
          The Investor shall receive one Bonus Share for every 10 Shares reflected for the
          full 24 month Full Investment Period on the Asonge Register as Shares in which
          the Investor holds beneficial rights in terms of the Asonge Share Scheme Offer
          The NEF Trust shall in no circumstances have any obligation to transfer a
          fraction of a Bonus Share to, or to provide any monetary compensation to
          Investors in respect of any fraction of a Bonus Share.
1.6       Individuals or Groups entitled to Participate
          The Asonge Share Scheme Offer is made in accordance with these Terms and
          Conditions to Black Individuals in possession of a valid South African identity
          number and to Black Groups.


                                                                                             15
        The NEF Trust reserves the right to verify that participants are Black
        Individuals or Black Groups as defined in these Terms and Conditions in
        order to ensure that only qualifying Investors are issued Shares in terms of
        the Offer.
1.7     Minimum Proposed Investment Amount per Investor
        Each Black Individual and Black Group may invest a minimum Proposed
        Investment Amount of R2 000 (two thousand Rand).
1.8     Maximum Proposed Investment Amount per Investor
        Black Individuals may invest a maximum Proposed Investment Amount of
        R50 000 (fifty thousand Rand) per Black Individual.
        Black Groups may invest a maximum Proposed Investment Amount of
        R100 000 (one hundred thousand Rand) per Black Group.
1.9     Allocation of Shares
1.9.1        Applicants may be allocated all, some, or none, of the Shares for which
             they have applied.
1.9.2        The NEF Trust will allocate (beneficial interest in and to ) Shares to
             Investors at its sole discretion having regard to factors such as (but not
             limited to) the number of applications received, the geographic spread of
             applicants, the percentage of applicants who are female applicants and the
             spread between Black Individuals and Black Groups. The NEF Trust shall
             retain an absolute discretion in the allocation of the Shares and does not
             undertake to give any particular weighting to any factor.
1.9.3        Investors in the Asonge Share Scheme Offer will only be informed of their
             allocations once the reconciliation and allocation process to be conducted
             by the Share Administrator has been completed (which process will be
             complete within 45 (forty-five) Business Days of the Closing Date. It is
             the intention that shareholder statements will be posted to Investors 45
             (forty-five) Business Days following the completion of the allocation
             process.
1.9.4        The NEF Trust reserves the right, at its sole discretion to scale back
             allocations or to allocate Shares in accordance with the NEF Trust s
             internal allocation policies and strategies.
1.9.5        If there are more Applications for Shares than are being offered as part of
             the Asonge Share Scheme Offer, the number of Shares allocated will be
             reduced or scaled back by means of a basis of allocation in the sole and
             absolute discretion of the NEF Trust.
1.9.6        MTN will not participate in and will have no responsibility with respect to
             the determination of the allocation of Shares in the Asonge Share Scheme
             Offer.
1.9.7        The number of Allocated Shares allocated to an Investor shall be the
             number determined by dividing the Proposed Investment Amount by the
             Offer Price, adjusted pursuant to the allocation process described above.


                                                                                     16
1.10   Payment
       The Shares can be paid for in the following manner:
       (i)     by bank-issued cheque, which must be attached to the application form.
               The cheque must be crossed not transferable with the words or bearer
               deleted, and must be made payable to SA Post Office . The words
                Asonge Share Scheme Offer must be written on the back of the cheque.
               If the cheque is dishonoured, the application will be rejected;
       (ii)     by debit card;
       (iii)    by cash at a participating branch of the South African Post Office;
       (iv)     by electronic funds transfer.
       All payments in respect of the Asonge Share Scheme Offer by Black Individuals
       must include the applicant s identity number or in the case of a Black Group,
       such group s registration number or name as a reference when making an
       electronic funds transfer. A copy of the transfer confirmation must be submitted
       together with the Application Form.
       All payments by electronic funds transfer must be completed by 12:00pm on
       15 August 2007. No payment by electronic funds transfer will be accepted after
       12:00pm on 15 August 2007.
       Only one electronic funds transfer may be made in respect of a single
       application.
       Electronic funds transfer payments are to be made into the following bank
       account:


       Bank:                       South African Post Office
       Account Number:             00053861112
       Branch Code:                460-005
       Reference:                  for Black Individuals - SA identity number
                                   for Black Groups SA identity number of the first
                                   representative as per the Application Form
       Please note that credit card payments, personal cheque payments and
       installment payments will not be accepted.
       Payments made must be based on the total monetary amount applicants wish to
       invest in the Shares and not on a specific number of Shares. The Proposed
       Investment Amount is payable in full upon application in Rands. By
       completing an Application Form, an applicant will be deemed to have agreed to
       acquire the number of Allocated Shares allocated to the Investor in accordance
       with these Terms and Conditions.




                                                                                      17
1.11     Refunds
1.11.1           If an entire application is unsuccessful, the Proposed Investment Amount
                 will be returned to the Investor without interest.
1.11.2           If an application is accepted in part, following the scale back process
                 described in 1.9 above, an amount equal to the difference between: (1) the
                 Proposed Investment Amount paid to the NEF Trust; and (2) the number
                 of Allocated Shares multiplied by the Offer Price, will be refunded to the
                 Investor.
1.11.3           The Investor agrees that any refunds referred to in this condition 1.11 shall
                 only be paid if the amount in question is in excess of R20 (twenty Rand).
                 Any excess amounts shall go towards the administration of the Asonge
                 Share Scheme Offer. Any refunds will be returned to the applicant by
                 electronic funds transfer and all risks in respect of such transfer will be
                 borne by the Applicant. No interest will be paid on any monies
                 refunded.
1.11.4           Refunds will be paid within 45 (forty-five) Business Days of the Closing
                 Date.
1.12     Opening of a CSDP Account
         The Investor hereby authorises the Share Administrator to open a CSDP account
         in the Investor s name for purposes of transferring the Shares into the name of
         such Investor in accordance with the Terms and Conditions and agrees, upon
         request of the Share Administrator, to timeously complete and submit all
         documentation required for this purpose.
1.13     Costs
1.13.1           The Investor hereby agrees that to the extent that an Investor s beneficial
                 interest in and to the Shares, purchased in accordance with these Terms
                 and Conditions, remains registered on the Asonge Register, all direct costs
                 relating to the Asonge Share Scheme Offer shall be for the account of the
                 NEF Trust.
1.13.2           If, after the Minimum Investment Period the Investor requires that some or
                 all of the Allocated Shares be transferred into the Investor s name, a CSDP
                 Account shall be opened for the Investor in accordance wit condition 1.12.
1.13.3           Transfer costs including UST and all direct costs associated with the
                 opening of the CSDP account by the Share Administrator referred to in
                 1.13.2 above, shall be paid by the NEF Trust.
1.13.4           The obligation of the NEF Trust to pay the direct costs as described in
                 1.13.1 above shall end upon the transfer of the Allocated Shares and
                 Bonus Shares after the expiry of the Full Investment Period.
1.14     Applications
         Applications to participate in the Asonge Share Scheme Offer must only be
         made on and in terms of an original Application Form which are available from



                                                                                           18
         participating Post Office branches or which are contained in the Offer
         Document. The following procedure must be followed:
1.14.1        Black Individuals
              Black Individuals must:
                    Complete and submit the Application Form to a participating Post
                    Office branch;
                    Attach a certified copy of the Black Individual s South African
                    identity document;
                    If an applicant has an existing bank account, the Application Form
                    must reflect a stamp from the Black Individual s bank that the Black
                    Individual s account is FICA compliant;
                    If the applicant does not have an existing bank account, the applicant
                    must open a new bank account at any registered bank (including the
                    Post Office). Applicants must submit proof of residence (such as a
                    water bill, rates and taxes bill or other service bill) to the bank in
                    order to comply with the FICA requirements;
                    Attach a SARS statement reflecting the Black Individual s tax
                    number (where applicable);
                    Attach certified copies or originals of a water bill, rates and taxes bill
                    or other service bill or bank statement reflecting the applicants
                    physical address;


                    Sign the declaration on the Application Form confirming that he/she
                    is a Black Individual and that he/she has agreed to be bound by the
                    Terms and Conditions of the Asonge Share Scheme Offer.
              Application Forms that are incomplete or are not signed will be
              rejected.
1.14.2        Black Groups
              Black Groups must:
                    Complete and submit the Application Form included in the Offer
                    Document to a participating Post Office branch;
                    Attach a certified copy of the South African identity document of the
                    duly authorised representative(s) of the Black Group;
                    If the Black Group has an existing bank account, the Application
                    Form must reflect a stamp from the Black Group s bank that the
                    Black Group s account is FICA compliant;
                    If the Black Group does not have an existing bank account, the Black
                    Group must open a new bank account at any bank (including the Post
                    Office);



                                                                                            19
                  Attach a SARS statement reflecting the Black Group s tax number
                  (where applicable);
                  Attach certified copies of the Constitutional Documents (such as
                  agreement of incorporation, member s agreement or trust deed) of
                  the Black Group;
                  Sign the declaration on the Application Form confirming that the
                  person signing the Application Form is duly authorised to represent
                  the Black Group, that the applicant is a Black Group as defined in
                  the Terms and Conditions and that the Black Group has agreed to be
                  bound by the Terms and Conditions of the Asonge Share Scheme
                  Offer.
            Application Forms that are incomplete or are not signed will be
            rejected.
1.15   Additional Application Forms
       Application Forms and the Offer Document can be obtained during normal
       business hours from any participating Post Office branch.
       The offer document can also be obtained on the Internet at the following
       web address: www.nefcorp.co.za
1.16   Application irrevocable
       Applications are irrevocable and may not be withdrawn once received by a
       participating Post Office branch.
1.17   Reservation of rights
       The NEF Trust (and its agents) have an absolute discretion as to whether or not
       any person or group may participate in the Asonge Share Scheme Offer and
       reserve the right to reject any application from any applicant, Black Individual
       or Black Group in the NEF Trust s absolute and sole discretion.
1.18   Submission of Application Forms and Receipts
       All duly completed Application Forms together with the required supporting
       documentation must be hand delivered and processed at a participating Post
       Office branch.
       The Post Office teller will issue a receipt to the applicant following receipt by
       the teller of the duly completed Application Form, the supporting documents
       and payment of the Proposed Investment Amount in full. This receipt is
       important and must be retained as proof of your application.
       Application Forms delivered after 12:00pm on 16 August 2007 will not be
       accepted. Only original pre-printed Application Forms, duly completed and
       accompanied by all necessary supporting documentation will be accepted.




                                                                                           20
     1.19      Breach by Investors
     1.19.1         The Investor hereby agrees that, should the Investor breach any obligation
                    set out in this Offer Document or the Application Form, including but not
                    limited to a breach of any warranty given or representation made; or the
                    selling, lending, disposing of or encumbering of the Allocated Shares
                    during the Minimum Investment Period, the NEF Trust shall be entitled, at
                    its discretion, to a refund from the Investor equal to the Proposed
                    Investment Amount (minus any refunds made to the Investor in terms of
                    Condition 1.11), plus any dividends received by the Investor after the
                    Implementation Date), plus any damages the NEF Trust may have suffered
                    or costs that the NEF may have incurred as a result of the breach; or to at
                    no cost to the NEF Trust, a return of the rights, title and interest in the
                    Allocated Shares plus, an amount equal to any dividends received by the
                    Investor after the Implementation Date, together with any costs incurred
                    by or damages suffered by the NEF Trust. The NEF Trust shall have a
                    right to set-off any amounts owed by the Investor to the NEF Trust against
                    the value of any obligation on the part of the NEF Trust to deliver Shares,
                    dividends, Bonus Shares or any other obligations arising out of this Offer
                    Document. The NEF Trust shall be entitled to value any such obligations,
                    acting reasonably.
     1.20      Corporate Events
     1.20.1         If, following the Implementation Date, but prior to the allocation of Bonus
                    Shares pursuant to Condition 1.5 above, an Adjustment Event occurs in
                    relation to the Shares, the NEF Trust may, acting reasonably, instead of
                    delivering a Bonus Share, take any of the following actions:
                        pay an Investor a cash amount equivalent to the value of a Bonus
                        Share;
                        provide the Investor with a share equivalent to the Bonus Share;
                        provide any other reasonable compensation to an Investor.
     1.20.2         For the purposes of this Condition 1.20:
                    "Adjustment Event" means any (i) reclassification or change of the Shares
                    that results in a transfer of or an irrevocable commitment to transfer all
                    outstanding Shares, (ii) consolidation, amalgamation or merger of MTN
                    with or into another entity (other than a consolidation, amalgamation or
                    merger in which such MTN is the continuing entity and which does not
                    result in any such reclassification or change of all outstanding Shares) or
                    (iii) other take-over offer for the Shares that results in a transfer of or an
                    irrevocable commitment to transfer all the Shares (other than the Shares
                    owned or controlled by the offeror), or (iv) a sub-division, consolidation or
                    reclassification of Shares, in each case if the Adjustment Date is on or
                    before the date on which the Bonus Shares are allocated.
2.          REGISTER
            The Share Administrator shall be responsible for maintaining the Asonge Register


                                                                                               21
      containing the name, address and bank account details of the Investors holding
      beneficial interests in the Shares and details of such interest.
3.    INFORMATION
3.1      All information which is distributed to ordinary MTN shareholders, as required
         by the Companies Act, shall be distributed to the NEF Trust by MTN. The NEF
         Trust shall procure that such information be on-distributed to the Investors
         provided that the NEF Trust will arrange for an abridged version of MTN s
         annual report to be sent to the Investor s address as stipulated in the Application
         Form completed by such Investor. Should an Investor wish to receive the
         complete version of the Annual Report, a request in writing must be sent to the
         NEF Trust in this regard.
3.2      The Share Administrator will send a statement from time to time to the Investor
         showing the number of Shares in which the Investor holds beneficial interests as
         reflected on the Asonge Register and advising of the payment of any dividend
         or corporate event.
4.    VOTING
4.1      The NEF Trust will send Investors information about MTN s shareholder
         meetings and a form on which the Investor can note its voting instructions in
         respect of any Corporate Action.
4.2      The NEF Trust will vote at MTN s shareholder meetings in accordance with the
         Investor s instructions provided that such instruction is received in the form
         required by the Share Administrator and at least 15 Business Days prior to the
         shareholder meeting. If an Investor does not give any instructions or does not
         give instructions in time or in the correct form, the NEF Trust will vote in
         accordance with its own discretion.
4.3      The Investor hereby indemnifies and holds the NEF Trust harmless for any vote
         cast by the NEF Trust pursuant to this condition 4.

4.4      An Investor may attend and speak at any of MTN s shareholder meetings as a
         proxy of the NEF Trust, provided that such Investor provides the NEF Trust
         with a written request in the form required by the Share Administrator, no less
         than 15 (fifteen) Business Days prior to the meeting to this effect in order for
         the NEF Trust to prepare the necessary letter of representation in favour of the
         Investor.
5.    TAX CONSEQUENCES
      The NEF Trust does not purport to provide any tax advice in respect of the Asonge
      Share Scheme Offer. Those Investors who have any doubt or concern regarding
      their position in respect of tax laws, including the Income Tax Act, 1962 should
      consult an appropriately qualified tax adviser.
6.    NOTICES
      All notices (including all demands or requests under these Terms and Conditions) to
      the Investors will be valid if mailed by registered post or hand delivered to an


                                                                                         22
      address appearing in the completed Application Form or if published in a leading
      English language daily newspaper of general circulation in the Republic of South
      Africa. Any such notice shall be deemed to have been given on the day of first
      publication or hand delivery, or on the seventh day after the day on which it is
      mailed, as the case may be.
      Notices (including all demands or requests under these Terms and Conditions) to be
      given by any Investor shall be in writing and given by delivering the notice to the
      NEF Trust.
      Any notice to the NEF Trust shall be deemed to have been received by the NEF
      Trust, on the second Business Day after being hand delivered to the registered
      office of the NEF Trust or on the seventh day after the day on which it is mailed by
      registered post to the registered office of the NEF Trust, as the case may be.
7.    MEETINGS
7.1      The NEF Trust may at any time convene a meeting of Investors upon at least
         twenty-one days prior written notice to the Investors. Such notice shall specify
         the place of the meeting, which shall be in the Republic of South Africa, and the
         date and time thereof.
7.2      The chairperson of the meeting shall be appointed by the NEF Trust. The
         procedures to be followed at the meeting shall be as determined by the
         chairperson subject to the remaining provisions of this clause 7.
7.3      Each Investor that is present in person or by proxy at the meeting shall have one
         vote for each one Share acquired by such Investor under the Asonge Share
         Scheme Offer and registered in that Investor s name on the Asonge Register.
7.4      The instrument appointing a proxy shall be in writing under the hand of the
         appointer or of this authorized agent or if the appointer is a company or any
         other body corporate (including a benefit, pension, provident or any other
         similar fund) either signed by its authorized officer or agent. Such instrument
         shall automatically entitle a proxy to speak at a meeting.
7.5      A person appointed to act as a proxy must be an Investor.
7.6      The instrument appointing a proxy and the power of attorney or other authority
         (if any) under which it is signed or a certified copy of such power of attorney
         shall be deposited at the registered office of the NEF Trust not less than twenty-
         four hours before the time appointed for the meeting at which the person named
         in the instrument proposed to vote, failing which the instrument of proxy shall
         not be treated as valid.
7.7      Without limiting the NEF s rights under paragraph 7.1 above, the NEF Trust
         may with the consent of at least a majority of those Investors who have attended
         a meeting as envisaged in 7.1 above amend or supplement or substitute any of
         these Terms and Conditions.
8.    MINOR AMENDMENTS
      These Terms and Conditions set out all the rights and obligations relating to the
      Asonge Share Scheme Offer. The NEF Trust may, without the consent of the


                                                                                        23
           Investors, effect any modification of the Terms and Conditions which is of a
           formal, minor or technical nature or which is made to correct an error or to comply
           with the mandatory provisions of the laws of South Africa. Any such modification
           shall be notified to the Investors in accordance with condition 6 as soon as
           practicable thereafter. Save as aforesaid, no addition, variation or consensual
           cancellation of these Terms and Conditions shall be of any force or effect unless
           condition 7 has been complied with.
9.         FORCE MAJEURE
           Neither the NEF Trust nor the Share Administrator shall be liable for the non-
           performance of any of their obligations provided for in this Offer Document, if such
           non-performance is the result of or has been caused by force majeure. For purposes
           of the Asonge Share Scheme Offer, force majeure shall include any event which is
           beyond the reasonable control of the NEF Trust and shall include, without limiting
           the generality of the aforegoing, any change in the laws of the Republic of South
           Africa after the Opening Date; any regulation, directive or decision of any
           Governmental body or agency which has the force of law in the Republic of South
           Africa or failure in any third party payment or settlement system. To the extent that
           the NEF Trust is prevented or restricted directly or indirectly from carrying out any
           of its obligations as a result of such force majeure for a period of more than 180
           (one hundred and eighty) days, the NEF Trust shall be relieved of such obligations.
     10.   APPLICABLE LAW
           The Asonge Share Scheme Offer, as to form and content, and all rights and duties
           of the Investors and the NEF Trust shall in all respects be determined in accordance
           with the law of the Republic of South Africa.
     11. STIPULATIO ALTERI
           The Investor hereby acknowledges and agrees that the Share Administrator may
           accept the rights to open a Share Account for and on behalf of the applicant given
           to the Share Administrator under Condition 1.12.




                                                                                                24
                    Corporate Information on NEF Trust


NEF MANDATE
The NEF was established by the National Empowerment Fund Act No 105 of 1998
( NEF Act ), to promote and facilitate black economic equality and transformation. Its
mandate and mission is to be the catalyst of Broad-based Black Economic Empowerment
(BB-BEE).
NEF OBJECTIVES
·   To provide Black People with the opportunity of, directly or indirectly, acquiring
    Shares or interest in state allocated investments (SAIs) that are being restructured or
    in private business enterprises.
·   To encourage and promote savings, investments, and meaningful participation by
    Black People.
·   To foster and support business ventures pioneered and run by black enterprises.
·   To improve the universal understanding of equity ownership among Black People.
·   To encourage the development of a competitive and effective equities inclusive of all
    persons in South Africa.
·   To contribute to the creation of employment opportunities.
·   To generally employ schemes businesses and enterprises as may be necessary to
    achieve the objectives of the NEF Act.
VISION
Our vision is to become the leading provider of innovative finance and investment
solutions for an inclusive economy.
MISSION STATEMENT
The National Empowerment Fund Trust (NEF) is the catalyst of Broad-Based Black
Economic Empowerment in South Africa. We enable, develop, promote and
implement innovative investment and transformation solutions to advance
sustainable economic participation amongst Black People.
VALUES
·   Service excellence
·   Result-orientated
·   Innovation and continuous improvement
·   Ownership and accountability
·   Recognition and reward



                                                                                              25
·   Respect, empathy and fairness
·   Honesty and integrity
·   Open and honest communication
·   People Development
Structure of the NEF
The NEF is structured as shown in the accompanying organogram:




Asset Management Division
The Asset Management Division develops and offers retail saving instruments to broad-
based groups of Black People. The division is tasked with:
    ·   carrying out government s objectives of encouraging a savings and investment
        culture among Black People;
    ·   providing opportunities for Black People to acquire Shares or interests in private
        or public companies;
    ·   creating awareness of and educating Black People on equity investment; and




                                                                                         26
   ·     helping to develop an effective equity market in South Africa that has meaningful
         black participation.
The National Empowerment Fund Asonge Share Scheme Offer is the first such product to
be offered by the NEF s Asset Management Division.
CONTACT DETAILS
Tel:                           +27 (0) 11 305 8000
Fax:                           +27 (0) 11 305 - 8001
Email:                         info@nefcorp.co.za
Web:                           www.nefcorp.co.za
Physical address:              West Block, 187 Rivonia Rd, Morningside, 2057
Chairperson:                   Mr. R. Ntuli
CEO:                           Ms Philisiwe Buthelezi
Board of Trustees:             Ronnie Ntuli (Chairman), Philisiwe Buthelezi (CEO), S
                               Sebotsa, J Hoffman, T Mhlambiso, P Radebe, K Seitshero,
                               J Theledi




                                                                                        27
                       Corporate Information on MTN


Full name:                 MTN Group Limited
Registration number:       1994/009584/06
Listing:                   JSE Limited
Date of Listing:           14 October 2002
Nature of Business:        Investing in telecommunications through its subsidiaries
Transfer Secretary:        Computershare

MTN Group Limited is a public, listed company. Its Annual Report and Annual
Results are publicly available and may be found on the MTN website at
www.mtn.co.za

Contact Details
Tel: +27 11 912 3000
Company address:
MTN Group Limited
Innovation Centre
216 14th Avenue
Fairland
Private Bag 9955
Cresta
2118
E-mail: investor_relations@mtn.co.za
Information sourced from MTN website at http://www.mtn.co.za




                                                                                      28
                                    Risk Factors



Investors wishing to participate in the Asonge Share Scheme Offer should ensure that
they understand fully the nature of investing in equities and the extent of their own
exposure to financial risk.
Investors should consider the suitability of the Asonge Share Scheme Offer as an
investment, in the light of their own personal financial circumstances and financial
conditions.
Investing in equities involves a high degree of risk, including the risk of losing one s
investment.
Potential Investors should therefore be prepared to sustain a total loss of the Proposed
Investment Amount they are required to pay as a means of participating in the Asonge
Share Scheme Offer.
Investors should ensure that they understand fully all the risks prior to making any
investment decision.
Those Investors who have any doubt or concern regarding their individual financial
positions should consult their own appropriate, independent, professionally qualified
financial, legal or tax advisors prior to investing in the Asonge Share Scheme Offer.
Prospective Investors in the Asonge Share Scheme Offer should consider the following
risk factors before making an investment decision concerning their investments:
       The value of the Shares will be subject to continuous change in response to
       market and economic forces.
       Investors are not, at the end of the Full Investment Period, guaranteed of retaining
       the Offer Price.
       The Offer Document does not at any time, imply that the information contained
       therein concerning MTN is correct at any time subsequent to the Opening Date.
       Investors should review inter alia the most recently published annual report and
       accounts of MTN when deciding whether or not to purchase the Shares.




                                                                                          29
   Corporate Information Relating to the Asonge Share Scheme Offer


National Empowerment Fund Trust
                                                     Retail distribution and receiving agent
National Empowerment Fund West Block
187 Rivonia Road                                     South African Post Office Limited
Morningside                                          (Registration number 19911005477/06)
2057                                                 497 Schubart Street
(PO Box 31, Melrose North, 2076)                     Pretoria Central
                                                     0002
                                                     (PO Box 10000, Pretoria, 0001)




Share administrator and corporate transaction        Attorneys
manager                                              Deneys Reitz Inc.
Computershare Investor Services 2004 (Pty) Limited   (Registration number 1984/003385/21)
(Registration number 20041003647/07)                 82 Maude Street
Ground Floor                                         Sandton
70 Marshall Street                                   2196
Johannesburg                                         (PO Box 784903, Sandton, 2146)
2001
(PO Box 61051, Marshalltown, 2107)




                         [INSERT ON OUTSIDE BACK COVER]




                                                                                    30

								
To top