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Telkom Comment on Government Gazette announcement

Telkom notes the Government Gazette no.: 11385, published today, giving the Special Investigative Unit (SIU) authority to investigate possible maladministration in the sale or disposal of iWayAfrica, Africa Online Mauritius and Multi-Links Telecommunications Limited.

Telkom follows robust corporate governance principles.

All matters relating to these transactions are on the public record. Telkom's own investigation flagged possible cases of wrongdoing by two employees in one of these transactions and declared this in terms of the Prevention and Combatting of Corrupt Activities Act. Telkom issued civil summons against an employee with an eye to recovering losses amounting to $5 million relating to activities incidental to the transaction.

As the matter is the subject of a criminal and civil nature, Telkom will deal with the case on its merits in the appropriate forum, in the appropriate manner, at the appropriate time.

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For more information contact: media@telkom.co.za