NEW YORK and BERTRANGE, Luxembourg, Jan. 8, 2004 (PRIMEZONE) --
-- Highest ever quarterly additions in total subscribers*(i) -- 30% underlying annual growth in total subscribers*(i) -- 28% underlying annual growth in proportional subscribers*(i)
Millicom International Cellular S.A. (MIC) (Nasdaq:MICC), the global telecommunications investor, announced today that in the fourth quarter of 2003 its worldwide operations in Asia, Latin America and Africa added 386,701 total net new cellular subscribers. Total underlying subscriber additions excluding El Salvador for the fourth quarter were the highest on record. On a proportional basis, MIC added 218,931 subscribers, bringing the total at December 31, 2003 to more than 4 million.
At December 31, 2003, MIC's worldwide cellular subscriber base increased to 5,690,542 cellular subscribers from 4,002,911 as at December 31, 2002. Particularly significant percentage increases were recorded in Ghana, Senegal, Mauritius, Sri Lanka and Vietnam. Both Asia and Africa recorded their best ever quarter in terms of total subscriber growth with additions of respectively 239,390 and 129,761 subscribers. For Asia, this represented an increase in total subscribers of 45% from December 31, 2002 and 10% from September 30, 2003 and for Africa, an increase of 63% from December 31, 2002 and 24% from September 30, 2003.
At December 31, 2003, MIC's proportional subscriber base increased to 4,025,577 from 2,784,187 at December 31, 2002, an increase of 44%.
Cellular Operations including El Salvador (i)
Proportion- Proportion- Annualized Total Total Annualized
al (ii) al (ii) Increase Subs Subs Increase
Subs at Subs at at at
Dec 31, Dec 31, Dec 31 Dec 31
2003 2002* 2003 2002*
Asia 1,678,336 1,158,253 45% 2,677,149 1,841,537 45%
Latin 1,883,809 1,359,437 38% 2,351,889 1,755,124 34%
America
Africa 463,432 266,497 72% 661,504 406,250 63%
Total 4,025,577 2,784,187 44% 5,690,542 4,002,911 42%
Cellular
Ops
(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, which was re-consolidated in September 2003
Within the 4,025,577 proportional cellular subscribers reported at the end of the fourth quarter, 3,550,322 were pre-paid customers. Excluding El Salvador, proportional pre-paid subscribers increased by 32% from December 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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