In terms of the Listings Requirements of the JSE Securities Exchange, South Africa (JSE Listings Requirements), companies are required to publish a trading statement as soon as they become aware that the financial results for the period to be reported upon next will be materially different from that of the previous corresponding period.
Telkom is currently finalising its results for the 6 month period ending 30 September 2003, which are expected to be released on 24 November 2003. Telkom accordingly advises that it expects both earnings per share and headline earnings per share for the 6 month period ending 30 September 2003 to be substantially above earnings per share and headline earnings per share for the 6 month period ended 30 September 2002. In terms of the JSE Listings Requirements, substantially is defined as an increase or decrease of more than 30%.
Cautionary announcement
The above information has not been reviewed or reported on by the Companys auditors. Shareholders are therefore advised to exercise caution when dealing in the Companys securities until the publication of the Companys results for the six months ended 30 September 2003.
Johannesburg
28 October 2003
Sponsor: UBS