Vodacom Group (Proprietary) Limited ("Vodacom") in which Telkom has a 50.0% holding,
today issued the following statement:
"Vodacom and Virgin Group confirmed their intention to bring together their extensive expertise in the Mobile Telephony market, and to form a Consortium together to undertake a joint bid for a controlling stake in Nigeria's V-Mobile.
The members of the new Consortium believe that the combination of Vodacom's extensive expertise in African Telecommunications markets and Virgin Group's proven skills in successfully operating in highly competitive markets, will prove to be a very attractive proposition for V-Mobile shareholders, staff and customers, and will ensure that V-Mobile becomes a far stronger company.
Further details will be announced at the appropriate time. "
3 June 2005