News:

CELTEL ZAMBIA PLC - RESULTS FROM THE INITIAL PUBLIC OFFER OF CELTEL ZAMBIA PLC ("CELTEL")
The initial Public Offer of 1,040 million ordinary shares in Celtel Zambia Plc ("the Offer") closed on 20 May 2008. This announcement provides information relating to the results of the Offer and the allocations to investors.

LEVEL OF PARTICIPATION IN THE OFFER
The ZMK665,600 million offer generated firm demand from Zambian and international investors of ZMK2,040 billion, with ZMK1,700 billion of this demand arising from international investors. This represents excess demand for the offer of greater than 3 times and is a testament to the confidence that the international investor community has in the Zambian economy and the future prospects of the company. A total of 5,814 pre-funded applications forms were received for 1,581,627,700 Celtel ordinary shares, representing total proceeds of ZMK1,012,241,780,000.00. This represents an oversubscription of 1.5 times for pre-funded applications.

BASIS OF THE ALLOCATION
The allocations were carried out in accordance with the policy stipulated in the prospectus. Accordingly, applicants that qualified as CELTEL Employees and the Zambian public were allotted the full amount of ordinary shares for which they applied. The balance of the shares was allotted to the domestic and selected international institutional investors on a discretionary basis.

CONFIRMATION OF ENTITLEMENT
Letters of allotment confirming entitlement to the shares allocated to applicants were posted on 07 June 2008.

LISTING DATE
The 5,200 million CELTEL Zambia Plc ordinary shares in issue were listed on the Lusaka Stock Exchange on Wednesday 11 June 2008, under the abbreviated name "CELTEL" and the ISIN Code: ZM0000000342.
 

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