Salient features for year ended 31 May 2011

• Revenue up 13% to R18 billion
• South African Distribution revenue up 15%
• Stand-out performance from prepaid electricity up 79%
• Rationalisation of operations in South Africa under Blue Label Distribution
• International strategy refocused:
  • Commitment to sell assets and liabilities in Nigeria,
  • Strategic partnership announced in Mexico, and
  • Shareholding increased in India, post year end
• Dividend of 14 cents per share declared up 17%

A technical overview

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Strategy to creating value

Opportunity

• Prepaid provides certainty
• Prepaid is an alternative payment method
• Airtime builds the highway
• Growing demand in SA: electricity, money transfers, data delivery
• Robust cash flows fund growth
• India and Mexico

Delivery

• Robust, scalable and proprietary technology
• Ensure right skills and talent
• Minimum capital expenditure
• Minimum cost to delivery
• Sustainable
• Unleveraged balance sheet
• Build network distribution and introduce products
• Grow product-lines and consumer-base

Value added

• Points of Presence: over 140 000 in South Africa
• Organic growth
• Mergers and acquisitions
• Dividend yielding
• Large, fast-growing markets with low penetration