IN TELKOM SA LIMITED
Deutsche Bank AG London and J.P. Morgan Securities Ltd. today announce that in
connection with the initial public offering of Telkom SA Ltd they have given
notice to the Government of the Republic of South Africa to exercise their over-
allotment option over a total of 14,941,513 ordinary shares in the Company.
This represents 71.5% of the over-allotment option.
This announcement does not constitute an offer of securities for sale in the
United States. Securities may not be offered or sold in the United States
absent registration or an exemption from registration under the United States
Securities Act of 1933, as amended. Any public offering of shares to be made in
the United States must be made by means of the prospectus that is available
from Telkom or the Government of the Republic of South Africa and contains
detailed information about Telkom and its management as well as its financial
statements.
This announcement does not constitute a recommendation regarding the Telkom
shares and does not constitute, and is not to be taken as constituting, the
giving of investment advice by Deutsche Bank AG London or J.P. Morgan Securities
Ltd. FSA/Stabilisation.
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