Disclosure Policy

Telkom SA Limited is committed to fair disclosure of information to its shareholders, the investment community and the public, while preventing selective disclosure of material, non-public information regarding Telkom and its subsidiaries.

Telkom and its management team believe it is in Telkom's best interest to maintain active and open communication with shareholders and potential investors regarding Telkom's historic performance and future prospects. The company is also aware of its need for confidentiality regarding details of key business and operating strategies.

Authorised spokespersons

Telkom will communicate with the investment community and shareholders through authorised representatives. The Chief Executive Officer, Chief Financial Officers and Executive: Investor Relations of Telkom Group are authorised to communicate with the investment community and shareholders on behalf of Telkom.

Other company officers or employees of Telkom may be authorised to communicate with the investment community and shareholders as part of Telkom's investor relations program from time to time. In such instances, an authorised representative as identified above must be present.

No employee is authorised to communicate business and financial information about the company or information regarding its securities that is non-public, material information save with the express prior authorisation from Investor Relations or for business purposes under a confidentiality agreement approved in advance by Telkom's Legal Services Department.

Telkom will endeavour to make appropriate announcements and to conduct interviews with the media about its business, results and significant developments on a timely basis. All media interviews and interactions are to be managed and co-ordinated through Telkom's Corporate Communications in accordance with the company's media policy.

Standard Communications

Telkom will endeavour to periodically and regularly communicate with its shareholders and other members of the investment community about its business operations. The company will do so through written correspondence, the press (releases and events) and through periodic conference calls.

All of Telkom's investor related conference calls are open to anyone who wishes to participate. Details of conference call will be communicated through press releases. Conference calls, webcasts and presentations will be accessible via Telkom's web site or will otherwise be made publicly available.

During reporting periods, discussions with investors and analysts will be limited to information previously disclosed in public venues such as press releases, open conference calls, web casts, SENS and SEC filings.

Should Telkom have new material information, it will be disseminated via a formal press release to ensure public disclosure.

The Investor Relations department is to be contacted if:

• A request is made for a private meeting or site visit with senior executives; or
• Telkom is invited to participate in an investor conference.

The request must include all relevant information regarding the meeting or event, including venue, date, time, the identity of the participants and the subject matter to be discussed. Sufficient time should be given to allow the request to be reviewed. Only after such review may firm commitment be made.

If possible events and meetings should be scheduled to coincide shortly after Telkom's earnings releases, to enable greater freedom to respond to questions.

Quiet period

On the 15th day of April and October, Telkom will enter a "quiet period" which will last until annual and interim earnings, respectively, have been publicly released. During the quiet period, Telkom will not participate in any further conversations or issue any communications that relate to the company's current financial performance or current business activity, except as required by law. Discussions will be limited to historic disclosed performance, except as required by law.