NEW YORK, STOCKHOLM, Sweden and BERTRANGE, Luxembourg, May 25, 2005 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange:MIC) today announces that the Rafsanjan Industrial Complex ("RIC") has launched GSM services in greater Tehran.
Millicom entered into an agreement with RIC in 2004 to manage a network for two million prepaid customers, to be owned by RIC under a build, operate and transfer contract between RIC and Telecommunications Company of Iran ("TCI"). Millicom is to be paid a share of the revenues generated by the network and has an option to acquire 47% of the company that will operate the network.
Marc Beuls, President and CEO of Millicom International Cellular S.A. commented: "We are delighted to be managing the RIC network that today started providing GSM services in Iran, a country with mobile penetration of less than 5 per cent and a huge pent-up demand for mobile services."
Millicom International Cellular S.A. is a mobile telecommunications operator with cellular operations in Asia, Latin America and Africa. It currently has a total of 17 cellular operations and licenses in 16 countries. The Group's cellular operations have a combined population under license of approximately 415 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.
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