NEW YORK, STOCKHOLM, Sweden, LONDON and BERTRANGE, Luxembourg, Dec. 3, 2004 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange: MIC), today announces that its subsidiary Telemovil has extended its cellular license in El Salvador. Telemovil's license in El Salvador was due for renewal in 2006 but it has agreed new license terms with the Regulator that will bring it into line with the other licenses in the market, so that Telemovil's license will now expire in 2018.
Marc Beuls, President and CEO commented: "El Salvador is a very attractive market and we are pleased to have agreed terms for the extension of our license at an early date and on good terms. Telemovil has recently launched GSM services in the market under the Tigo brand and this is driving strong subscriber growth."
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 387 million people.
This press release may contain certain "forward-looking statements" with respect to Millicom's expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicom's 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 that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicom's 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 Millicom 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 Millicom's behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.
CONTACTS:
Marc Beuls President and Chief Executive Officer Millicom International Cellular S.A., Luxembourg Telephone: +352 27 759 327
Andrew Best Investor Relations Telephone: +44 20 7321 5022
Visit our web site at: www.millicom.com
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