NEW YORK, STOCKHOLM and BERTRANGE, Luxembourg, Dec. 1, 2005 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange: MIC) today announces the launch of state-of-the-art GSM services in Bolivia under the Tigo brand, including GPRS, Edge, MMS and e-pin (electronic top-up).
Marc Beuls, President and Chief Executive Officer of Millicom said: "Our operation in Bolivia produced impressive revenue growth of some 30% for the nine months to September 2005 as compared to the same period in 2004. Our Central American cluster recorded even stronger growth over this period as it had the benefit of an earlier migration to GSM and the launch of our highly successful new brand, 'Tigo.' With the launch of GSM and the Tigo brand in Bolivia, we anticipate a strong acceleration in subscriber growth and further strong revenue growth, in line with that experienced in Central America."
Following this launch, all of Millicom's 16 operations now operate GSM networks.
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Group's cellular operations have a combined population under license of approximately 391 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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