TELKOM IPO ON TRACK FOR THIS YEAR

12 July 2001

The Director General of the National Treasury Maria Ramos and the Director General of the Department of Public Enterprises Sivi Gounden have confirmed today that the Initial Public Offering on Telkom is on track for November this year subject to market conditions.

The two director generals have also noted that good progress has been made on both the legislative and regulative fronts and that negotiation with Thintana are nearing finalisation.

Enquiries:

Fani Zulu
Director: Communications
Ministry of Public Enterprises
082 451 0457