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Trading statement

Shareholders are advised that basic earnings per share from continuing operations for the six months ending 30 September 2012 is expected to be at least 45% lower than the comparative period in the prior year. Headline earnings per share from continuing operations for the six months ending 30 September 2012 are expected to be at least 65% lower than the comparative period in the prior year. The lower earnings are mainly attributable to an increase in the provision for Competition Commission fines relating to transgressions of the company dating back approximately 10 years. The operational performance for the period up to 31 August 2012 has been further characterised by flat revenue and operating cost that escalated just below inflation.

Telkom will provide an updated trading statement once there is reasonable certainty within a 20% range of the results when compared to the previous comparable period.

Release of interim results

Telkom plans to release its results for the six months ended 30 September 2012 on or about Monday, 19 November 2012.

This trading statement has neither been reviewed nor reported on by the company's external auditors.

20 September 2012

Sponsor to Telkom:
UBS South Africa (Pty) Ltd