NEW YORK and BERTRANGE, Luxembourg, Oct. 7, 2003 (PRIMEZONE) -- Millicom International Cellular S.A.:
-- Total subscribers exceed 5.3 million following re-consolidation of El
Salvador
-- 60% increase in net additions quarter on quarter excluding El Salvador
-- 30% underlying annual growth in total subscribers*
-- 29% underlying annual growth in proportional subscribers*
Millicom International Cellular S.A. (MIC) (Nasdaq:MICC), the global telecommunications investor, announced today that in the third quarter of 2003 its worldwide operations in Asia, Latin America and Africa added 832,006 net new cellular subscribers, including some 460,000 for Telemovil, MIC's operation in El Salvador, which was re-consolidated in September. Underlying subscriber additions for the quarter, excluding El Salvador were the highest since the last quarter of 2000. On a proportional basis, 722,691 subscribers were added.
At September 30, 2003, MIC's worldwide cellular subscriber base increased to 5,303,841 cellular subscribers from 3,715,731 as at September 30, 2002. Particularly significant percentage increases were recorded in Ghana, Senegal, Pakistan, Cambodia and Vietnam. MIC Africa recorded its best ever quarter in terms of subscriber growth, adding 86,201 subscribers, an increase of 19% from June 30, 2003.
At September 30, 2003, MIC's proportional subscriber base increased to 3,806,646 from 2,601,769 at September 30, 2002.
Cellular Operations including El Salvador (i)
Proportional Proportional Annualized Total Total Annualized
(ii) (ii) Increase Subs at Subs at Increase
Subs at Subs at Sept 30, Sept 30,
Sept 30, Sept 30, 2003 2002*
2003 2002*
Asia 1,534,322 1,055,478 45% 2,437,759 1,662,352 47%
Latin
America 1,907,642 1,294,547 47% 2,334,339 1,665,919 40%
Africa 364,682 251,743 45% 531,743 387,460 37%
Total
Cellular
Ops 3,806,646 2,601,769 46% 5,303,841 3,715,731 43%
(i) All numbers and comparatives exclude divested operations
(ii) Proportional subscribers are calculated as the sum of MIC's
percentage ownership of subscribers in each operation.
* Excluding El Salvador
Within the 3,806,646 proportional cellular subscribers reported at the end of the third quarter, 3,341,001 were pre-paid customers. Excluding El Salvador, proportional prepaid subscribers increased by 33% from September 2002. Pre-paid subscribers currently represent 88% of gross reported proportional cellular subscribers.
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has a total of 16 cellular operations and licenses in 15 countries. The Group's cellular operations have a combined population under license of approximately 382 million people. In addition, MIC provides high-speed wireless data services in five countries.
This press release may contain certain "forward-looking statements" with respect to our expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that our actual results in the future could differ materially from those anticipated in forward- looking statements depending on various important factors. Please refer to the documents we have filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including our most recent annual report on Form 20-F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to us on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A, any Millicom International Cellular S.A members or persons acting on our behalf are expressly qualified in their entirety by the factors referred to above. We do not intend to update these forward- looking statements.
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/10/07/20031007BIT00560/wkr0001.doc
http://www.waymaker.net/bitonline/2003/10/07/20031007BIT00560/wkr0002.pdf