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Announcement regarding Telkom's conclusion of a roaming agreement with MTN South Africa

Shareholders are referred to Telkom's previous announcements regarding the disposal of its 50% stake in Vodacom Ltd and its intention to enter the mobile voice and data business. Further to this strategy, Telkom wishes to advise shareholders that it has:

  1. Placed orders to build 2000 new base stations in selected high density areas over the next two years, and
  2. Concluded a five year national roaming agreement with MTN South Africa in terms of which Telkom and its customers will have national access to MTN's 2G and 3G network throughout South Africa.

The capital programme for mobile related investments over the next 5 years is expected to be approximately R6 billion. The conclusion of a roaming agreement with MTN South Africa enhances Telkom's ability to offer Telkom customers extensive and national mobile coverage from day one of launch and accordingly, is key to the delivery of a successful mobile strategy.

14 April 2010
Pretoria
Sponsor: UBS South Africa

Special note regarding forward looking statements

Some statements included in this announcement as well as oral statements that may be made by us or by officers, directors or employees acting on behalf of us, constitute or are based on forward looking statements.

All statements, other than statements of historical facts, including, among others, statements regarding our mobile and other strategies, future financial position and plans, objectives, capital expenditures, projected costs and anticipated cost savings and financing plans, as well as projected levels of growth in the communications market, are forward looking statements. Forward looking statements can generally be identified by the use of terminology such as "may", "will", "should", "expect", "envisage", "intend", "plan", "project", "estimate", "anticipate", "believe", "hope", "can", "is designed to" or similar phrases, although the absence of such words does not necessarily mean that a statement is not forward looking. These forward looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause our actual results and outcomes to be materially different from historical results or from any future results expressed or implied by such forward looking statements. Among the factors that could cause our actual results or outcomes to differ materially from our expectations including but not limited to those risks identified in Telkom's most recent annual report which are available on Telkom's website at www.telkom.co.za/ir.

We caution you not to place undue reliance on these forward looking statements. All written and oral forward looking statements attributable to us, or persons acting on our behalf, are qualified in their entirety by these cautionary statements. Moreover, unless we are required by law to update these statements, we will not necessarily update any of these statements after the date of this document, either to conform them to actual results or to changes in our expectations.