NEW YORK, STOCKHOLM and BERTRANGE, Luxembourg, Jan. 12, 2005 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange:MIC), announces that it has added 859,968 net new subscribers in the fourth quarter to reach 7.7 million total cellular subscribers by the year end. Proportional subscribers reached 5.3 million. Subscriber growth has continued to accelerate in 2004 with record underlying net subscribers additions in the last three quarters. At the end of December 2004 Millicom saw a 12.6% increase in total subscribers from the previous quarter and a 36% increase from December 2003.
Marc Beuls, President and CEO of Millicom International Cellular S.A. said: "Subscriber growth was particularly strong in Vietnam following the price reductions earlier in the year which have stimulated demand for mobile services. The launch of GSM services in Latin America and Pakistan have added to the attractions of Millicom's offering in these markets and this roll out has been backed by increased marketing initiatives, by way of re-branding to Tigo in Latin America, and an attractive offering for Paktel GSM customers in Pakistan. Millicom's operations in Pakistan passed the 1 million subscriber mark in December 2004. In Africa we continue to see the benefit of investment in the network where our coverage increased substantially in 2004 and the 1 million subscriber mark was exceeded in the fourth quarter."
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.
Andrew Best Investor Relations Telephone: +44 20 7321 5022
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