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Telekom Malaysia Berhad announced this evening that, in conjunction with Thintana Communications LLC, it will offer for sale as many as 33.2 million shares of South African telecommunications provider Telkom SA Limited [JSE and NYSE: TKG]

The sale, subject to demand, price and market conditions, would be conducted through a private placement to institutional investors.

Thintana Communications holds a 30 percent interest in Telkom SA. Thintana Communications is owned 60 percent by SBC Communications Inc, [NYSE: SBC] and 40 percent by Telekom Malaysia Berhad through TM International (L) Limited. Thintana Communications has announced its intention to reduce its ownership of Telkom to not less than 15.1 percent of the South African company, with SBC and Telekom Malaysia Berhad retaining at least 9 percent and 6 percent indirect interests in Telkom SA, respectively.

Telkom SA will not receive any proceeds from the offering. In connection with the offering, Thintana Communications will enter into a lockup agreement on its remaining 15.1 percent holding in Telkom SA. The agreement will remain effective until the release of Telkom SA's interim financial results for the period ending 30 September 2004, which are expected to be released on 22 November 2004.

This announcement does not in any manner constitute an invitation to invest or an advertisement notification, statement or announcement soliciting investment in the shares of Telkom SA or an offer of securities for sale in the United States or in any jurisdiction in which such an offer or solicitation is unlawful. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to registration or an applicable exemption from registration. No public offering of securities is being made into the United States.

Within the United Kingdom, this announcement is directed only at persons who have professional experience in matters relating to investments (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.

No prospectus offering securities to the public will be published.