Blue Label Telecoms Limited (Incorporated in the Republic of South Africa) (Registration number 2006/022679/06) Share code: BLU ISIN: ZAE000109088

("Blue Label" or the "Company")

UPDATE ON THE CELL C RECAPITALISATION

Blue Label shareholders are referred to the announcement released by the Company on the Stock Exchange News Service of the JSE Limited on Thursday, 27 July 2017, as well as to the circular issued to Shareholders dated Tuesday, 27 June 2017 ("Circular").

Capitalised terms used but not otherwise defined in this announcement have the meaning ascribed to them in the Circular.

Blue Label is pleased to advise Shareholders that the Cell C Recapitalisation has been fully implemented, resulting in Cell C's Net Borrowings being reduced to below R6 billion, and Blue Label, through its wholly-owned subsidiary, TPC, now owns 45% of the issued share capital of Cell C.

By order of the board

Sandton

07 August 2017

Financial Adviser and Sponsor

Investec Bank Limited

Legal Adviser to Blue Label

Werksmans Inc

Blue Label Telecoms Ltd. published this content on 07 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 07 August 2017 07:54:02 UTC.

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