TNM by AfricanShareholder

Abridged report: 2008

4/9/2009

16% growth in revenues to MK 6.70bn

5% growth in profit after tax to MK 1.53bn

9% decline in EBITDA to MK 2.78bn

ARPU at MK 1,032

Shareholders� funds MK 6.21bn

Earnings per share MK 0.17

Return on equity of 25%

EBITDA margin of 42%

Analyst presentation for year ended 31 December 2008

4/7/2009

Revenue increased by 16%

Significant increase in prepaid customers + 88% offset by declines in average revenue per additional user and ARPU declined from US$10.3 in 2007 to US$7.3 in 2008 accordingly

EBITDA margin declined from 52% to 42% in 2007 and 2008 respectively

42% EBITDA margin is a respectable industry norm

Application Terms

9/30/2008

Terms and conditions of application
Applicants are required to read the information below carefully. Only foreign investors should complete the application form marked �Foreign Investors�.

Dividends policy

9/30/2008

The Company�s dividend policy is to provide returns on the capital invested by its shareholders commensurate with underlying profitability.....

Foreign guidelines

9/30/2008

Foreign portfolio investment guidelines
The following guidelines currently apply to foreign portfolio investment in companies listed on the MSE:-

Interview after Analyst Presentation

4/7/2009

Interveiw with Werner Schrijver
CEO of Telekom Networks Malawi Limited
on Tuesday 7th April 2009
after the analyst presentation

Interview with CEO at listing

11/3/2008

TNM Listing Ceremony
Monday 3 November 2008
Interview with Mr. Werner Schrijver CEO of TNM

Interview with MSE CEO Mr. Msefula

11/4/2008

TNM Listing Ceremony
Monday 3 November 2008
Interview with Malawi Stock Exchange CEO Mr Symon Msefula after listing TNM on the Malawi Stock Exchange.

Interview with TNM Chairman

10/4/2008

A short interview with TNM Chairman, Dr. Mathews Chikaonda.

Investor factsheet as at 9.10.08

10/10/2008

Next issue in Novermber 2008