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Tue 15 Jun 2004, 17:23 ADDITIONAL INFORMATION ON FINANCIAL RESULTS FOR TH
MTN GROUP LIMITED - ADDITIONAL INFORMATION ON FINANCIAL RESULTS FOR THE YEAR    
                      ENDED 31 MARCH 2004                                         
  MTN Group Limited                                                               
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1994/009584/06)                                            
  JSE Share code: MTN                                                             
  ISIN: ZAE000042164                                                              
  (`MTN Group`)                                                                   
  ADDITIONAL INFORMATION ON FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2004    
  MTN Group has aligned its reporting format for the year ended 31 March 2004 with
  International Financial Reporting Standards (`IFRS`). The key difference to     
  previous disclosure is on the Operating expenses - net of other operating income
  line. This line was previously split between Operating expenses - net of sundry 
  income, Depreciation as well as Amortisation. To enable easy comparison with    
  prior years, the income statement for the year ended 31 March 2004 is provided  
  below prepared in accordance with the previous format.                          
                                 Year ended  Year ended                           
                                   31 March    31 March                           
                                       2004        2003                           
  Rmil        Rmil                           
  Revenue                            23 871      19 405                           
  Cost of sales                     (9 659)     (8 321)                           
  Gross Profit                       14 212      11 084                           
  Operating expense - net of        (5 229)     (4 867)                           
  sundry income                                                                   
  Earnings before interest,           8 983       6 217                           
  taxation, depreciation and                                                      
  amortisation (`EBITDA`)                                                         
  Depreciation                      (2 204)     (1 651)                           
  Amortisation                        (172)       (233)                           
  Profit from operations              6 607       4 333                           
  before goodwill amortisation                                                    
  Goodwill amortisation               (599)       (596)                           
  Profit from operations              6 008       3 737                           
  Finance income                        144         129                           
  Finance costs                       (748)       (957)                           
  Share of results of                     9           1                           
  associates                                                                      
  Profit before tax                   5 413       2 910                           
  Income tax expense                (1 101)       (687)                           
  Profit after tax                    4 312       2 223                           
  Minority interest                   (612)       (289)                           
  Net profit                          3 700       1 934                           
  Johannesburg,                                                                   
  15 June 2004                                                                    
  Sponsor                                                                         
  Merrill Lynch South Africa (Pty) Limited                                        
  Date: 15/06/2004 05:15:02 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 

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