Naspers Announces Pro Forma Financial Effects of the Capital Raising.

CAPE TOWN, South Africa -- Further to completion of the US$1.0 billion capital raising (the "Capital Raising"), Naspers announces the pro forma financial effects of this transaction. Naspers has issued a total of 45.6 million new "N" ordinary shares (the "New "N" Shares"), including the exercise in full of the over-allotment option, at an offer price of ZAR163.00 per New "N" Share. This represents approximately 15.0 per cent of Naspers's issued "N" ordinary share capital prior to the Capital Raising (excluding treasury shares). Approximately 7.5 million New "N" Shares were issued pursuant to a Vendor Consideration Placement (under Section 5.62 of the JSE Listings Requirements) in relation to the acquisition of Mail.ru. The remaining 38.1 million New "N" Shares were issued by way of an issue of shares for cash in accordance with the terms of the general authority granted to the directors of Naspers at the annual general meeting of Naspers held on 25 August 2006. The JSE has granted approval for the New "N" Shares to be admitted to trading on the JSE.

The pro forma financial effects of the Capital Raising are set out below. The pro forma financial effects have been prepared for illustrative purposes only and in terms of the JSE Listings Requirements and therefore, due to their nature, may not truly reflect Naspers's financial condition or the effect on Naspers's future earnings. The directors of Naspers are responsible for the preparation of the pro forma financial effects.

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Disclaimer

This announcement has been issued by, and is the sole responsibility of Naspers Limited. The distribution of this announcement and the offer and sale of Naspers Limited N ordinary shares in certain jurisdictions may be restricted by law. Any persons reading this announcement should inform themselves of, and observe, any such restrictions. This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). 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 Naspers Limited 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.

Certain statements in this announcement constitute "forward looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Naspers Limited to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. These factors include those discussed in our reports submitted to the SEC. We undertake no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events.

Within the United Kingdom, this announcement is directed only at persons who have professional experience in matters relating to investments that fall within article 19(5) of the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended) (the "Order") or are persons falling within article 49(2)(a) to (d) ("high net worth individuals, unincorporated associations etc.") of the Order (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. As regards all persons other than relevant persons, the details of the Capital Raising and bookbuilding set out in this announcement are for information purposes only.

No prospectus offering securities to the public will be published. Citigroup is acting for Naspers Limited and no one else in connection with the Capital Raising and will not be responsible to any other person for providing the protections afforded to their respective clients, or for providing advice in relation to the Capital Raising.