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<SEC-DOCUMENT>0000950103-06-000311.txt : 20060214
<SEC-HEADER>0000950103-06-000311.hdr.sgml : 20060214
<ACCEPTANCE-DATETIME>20060214115406
ACCESSION NUMBER:		0000950103-06-000311
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060214
FILED AS OF DATE:		20060214
DATE AS OF CHANGE:		20060214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILLICOM INTERNATIONAL CELLULAR SA
		CENTRAL INDEX KEY:			0000912958
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO TELEPHONE COMMUNICATIONS [4812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22828
		FILM NUMBER:		06609551

	BUSINESS ADDRESS:	
		STREET 1:		75 ROUTE DE LONGWY
		STREET 2:		BOX 23 BERTRANGE
		CITY:			GRAND DUCHY OF LUXEN
		STATE:			N4
		ZIP:			L8080
		BUSINESS PHONE:		3524571451
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>feb1406_6k.htm
<TEXT>
<html>
<head>
<title></title>
</head>
<body>
<hr align="center" width="100%" size="4" noshade color="#000000" style="margin-top: -2px">
<hr align="center" width="100%" size="1" noshade color="#000000" style="margin-top: -10px">
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="3"><b>FORM 6-K<br>
  <br>
</b></font></p>
<div align="center"><font face="Times New Roman, Times, serif" size="3"><b>SECURITIES AND EXCHANGE COMMISSION<br>
  Washington, D.C. 20549</b></font>
  <br>
</div>
<p align="center"><font face="Times New Roman, Times, serif" size="3"><b>Report of Foreign Issuer</b></font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to Rule 13a-16
      or 15d-16 of<br>
the Securities
      Exchange Act of 1934</b></font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="3">For February
    14, 2006</FONT></p>
<p align="center"><font face="Times New Roman, Times, serif" size="3">Commission File Number: 000-22828</font></p>

    <div align="center"><font size="3" face="Times New Roman, Times, serif"><B>MILLICOM INTERNATIONAL</B></font></div>

    <div align="center"><B><font size="3" face="Times New Roman, Times, serif">CELLULAR S.A.</font></B></div>

    <div align="center"><b><font size="3" face="Times New Roman, Times, serif">75 Route de Longwy</font></b></div>

    <div align="center"><b><font size="3" face="Times New Roman, Times, serif">Box 23, L-8080 Bertrange</font></b></div>

    <div align="center"><b><font size="3" face="Times New Roman, Times, serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grand-Duchy of Luxembourg&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></font></b></div>
        <div align="center"><font face="Times New Roman, Times, serif" size="2">(Address of principal executive offices)</font>
    </div>
    <blockquote>
      <blockquote>
        <blockquote>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
                    by check mark whether the registrant files or will file annual reports
                under cover of Form 20-F or Form 40-F.</font></p>
        </blockquote>
      </blockquote>
    </blockquote>
<div align=center>
  <table width="60%" border=0 cellpadding=0 cellspacing=0>
        <tr align="center">
          <td width="30%" align="right" valign="top"><font size="3" face="Times New Roman, Times, serif">Form
              20-F <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u> </font></td>
          <td width="40%" align="left" valign="top">&nbsp;</TD>
          <td width="30%" align="left" valign="top"><font size="3" face="Times New Roman, Times, serif">Form
              40-F <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></TD>
        </tr>
  </table>
</div>
<blockquote>
  <blockquote>
        <blockquote>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
                by check mark if the registrant is submitting the Form 6-K in paper as permitted
            by Regulation S-T Rule 101(b)(1): ___</font></p>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
          by check mark if the registrant is submitting the Form 6-K in paper as permitted
      by Regulation S-T Rule 101(b)(7): ___</font></p>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
          by check mark whether the registrant by furnishing the information contained
          in this Form is also thereby furnishing the information to the Commission
      pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font>
          </p>
    </blockquote>
  </blockquote>
</blockquote>
<div align=center>
  <table width="60%" border=0 cellpadding=0 cellspacing=0>
    <tr align="center">
      <td width="25%" align="right" valign="top"><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></TD>
      <td width="50%" align="left" valign="top">&nbsp;</TD>
      <td width="25%" align="left" valign="top"><font size="3" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></TD>
    </tr>
  </table>
</div>
<blockquote>
  <blockquote>
    <blockquote>
      <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If &#147;Yes&#148; is
                  marked, indicate below the file number assigned to the registrant
          in connection with Rule 12g3-2(b): 82- ____________</font><font size="2" face="Times New Roman, Times, serif"><br>
        <br>
      </font></p>
    </blockquote>
  </blockquote>
</blockquote>
<hr align="center" width="100%" size="1" noshade color="#000000" style="margin-top: -2px">
<hr align="center" width="100%" size="4" noshade color="#000000" style="margin-top: -10px">
<PAGE>
<br>
<br>
<p align="center"><font face="Times New Roman, Times, serif" size="2">MILLICOM INTERNATIONAL CELLULAR S.A.</font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">INDEX TO EXHIBITS</font></p>
<p><font face="Times New Roman, Times, serif" size="2"><u>Item</u></font></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
        <TD width="4%" valign=top nowrap>
<FONT face="serif" size=2>1.</FONT></TD>
        <TD width="96%">
<FONT face="serif" size=2>Press release dated February 14, 2006</FONT></TD>
</TR>
<TR>
  <TD valign=top nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>

<P><FONT SIZE="2"><BR>
</FONT></P>


<hr width="100%" size=3 color=GRAY noshade>
<PAGE>
<br>
<br>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><u>SIGNATURES<br>
</u></font></p>
<p><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the requirements of the Securities Exchange Act of 1934, the Registrant
    has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</font></p>
<div align="right">
  <table width="100%" border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td width="62%">&nbsp;</td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font><font size="2" face="Times New Roman, Times, serif">MILLICOM
        INTERNATIONAL CELLULAR S.A.</font></td>
    </tr>
    <tr>
      <td width="62%" height="23"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td colspan="2" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td width="6%" align="center">&nbsp;</td>
      <td width="32%">&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">Date: February
                14, 2006</font></td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">By:&nbsp;/s/
          Marc Beuls </font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="center"><hr align="left" width=75% size=1 noshade color="#000000"></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Marc Beuls</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
      <td><font size="2">President and Chief Executive Officer</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="left">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="left">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">By:&nbsp;/s/
          David Sach </font></td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td colspan="2" align="center"><hr align="left" width=75% size=1 noshade color="#000000"></td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">David Sach </font></td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
      <td><font size="2" face="Times New Roman, Times, serif">Chief Financial Officer</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
  </table>
</div>
<br>
<br>

<hr width="100%" size=3 color=GRAY noshade>
<PAGE><br>


<div align="right"><strong><br>
     <br>
          <font size="2">Item 1</font>
</strong></div>
<P align="center">
<B><FONT BASESIZE=4 size=4 BASEFACE="serif" face="serif"><img src="logo.jpg"><br>
MILLICOM INTERNATIONAL CELLULAR S.A.</FONT></B></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif"><B>FOR IMMEDIATE RELEASE<br>
February 14, 2006</b></FONT></P>
<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">MILLICOM INTERNATIONAL CELLULAR S.A. ANNOUNCES RESULTS FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2005</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">New York and Stockholm &#150; February 14, 2006 &#150; Millicom International Cellular S.A. (Nasdaq Stock Market: MICC and Stockholmsb&ouml;rsen: MIC), the global telecommunications company,
today announces results for the quarter and year ended December 31, 2005.</FONT></P>
<UL>

<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Record quarterly total subscriber
increase for Q4 05 of 1,016,446 </FONT></LI>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">15% increase in revenues
for Q4 05 to &#36;294.1m (Q4 04: &#36;254.8m)*</FONT></LI>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">EBITDA for Q4 05 of &#36;130.2m
(Q4 04: &#36;123.9m)*</FONT></LI>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Profit for Q4 05 of
&#36;15.9m (Q4 04: &#36;25.4m)*</FONT></LI>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Earnings per common share for
Q4 05 of &#36;0.16 (Q4 04: &#36;0.28)*</FONT></LI>
<br>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">18% increase in revenues for the
year to Dec 2005 to &#36;1,083.7m (2004: &#36;917.5m)*</FONT></LI>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">8% increase in EBITDA for the
year to Dec 2005 to &#36;489.8m (2004: &#36;455.5m)*</FONT></LI>
<LI><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Profit for the year to Dec 2005 of
&#36;10.0m (2004: &#36;65.9m)*</FONT></LI>
<LI><FONT BASESIZE=2 size=2
BASEFACE="serif" face="serif">Earnings per common share for the year to Dec 2005 of
&#36;0.10 (2004: &#36;0.79)*</FONT></LI>
</UL>
<P align="left">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Chief Executive Officer&#146;s Review</FONT></B></P>
<UL>
<LI><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">52% increase in pro forma total
subscribers to 8.9 m in 2005</FONT></B></LI>
<LI><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Increasing growth momentum with
Q4 2005 pro forma revenues and EBITDA up by respectively 36% and 34% year on
year</FONT></B></LI>
<LI><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Capex increased in 2005 by
50% to &#36;354m</FONT></B></LI>
<LI><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Cash upstreaming of &#36;163m
in 2005, an increase of 29% on a pro forma basis over 2004</FONT></B></LI>
</UL>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Marc Beuls, Chief Executive, comments on outlook:<br>
</FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#147;The
outlook for Millicom is excellent. We decided in 2005 to increase substantially
our investments in existing markets resulting in record pro forma revenue and
EBITDA growth in Q4. Our capital expenditure planned in 2006, including the new
markets started in 2005, will again be at least 50% higher than the previous
year. Capital expenditure will continue to be an important driver behind this
accelerating growth pattern, but we expect the capex/sales ratio to reduce year
on year post 2006.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#147;Another driver of growth has been the launch of Tigo in Latin America on the back of our new GSM networks. Tigo is the price leading product, a customer friendly brand which exploits our
tried and tested, mass distribution and low cost model. Building on Tigo&#146;s success, we are rolling out Tigo in our African markets today. The Tigo model has allowed us to grow both revenues and EBITDA in Latin America by over 50% in Q4 2005.
Africa grew its subscriber base by approximately 80% in 2005 and we expect the region to continue to be the fastest growing in 2006 with two new operations added in the second half of 2005. Tigo in Chad set a new record for countries with a similar
population in Millicom&#146;s portfolio by adding over 90,000 subscribers in less than three months in Q4 2005.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#147;Revenues in South Asia have been under pressure as a result of the increased competition in Pakistan. Our plan for Paktel, our GSM operation in Pakistan, is to improve the quality of the
network and focus on revenue generating subscribers. Our target is to break even at the EBITDA level on a monthly basis by the end of the year. Negotiations regarding the sale of Pakcom are ongoing and we expect to finalise the sale in the first
half of 2006. </FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">On January 19, 2006, Millicom appointed Morgan Stanley to conduct a review of strategic options following the receipt of a high number of unsolicited approaches.  A further announcement will be
made when the review is complete.&#148;</FONT></P>
<P align="left">
<I><FONT size=2 BASEFACE="serif" face="serif">* Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1, revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs.</FONT></I></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">FINANCIAL SUMMARY FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004</FONT></U></B></P>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
     <TD width="3%" align=left>&nbsp;</TD>
     <TD width="1%" align=left>&nbsp;</TD>
     <TD width=66% align=left>&nbsp;</TD>
     <TD width=2%>&nbsp;</TD>
     <TD width=6% align=right><b><font size=2 baseface="serif" face="serif">Dec 31</font></b></TD>
     <TD width=2% align=right GUTTER>&nbsp;</TD>
     <TD width=1% align="right">&nbsp;</TD>
     <TD width=6% align=right><b><font size=2 baseface="serif" face="serif">Dec 31</font></b></TD>
     <TD width=2% align=center GUTTER>&nbsp;</TD>
     <TD width=1% align="center">&nbsp;</TD>
     <TD width=6% align=right><b><font size=2 baseface="serif" face="serif">Change</font></b> </TD>
     <TD width=2% align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
     <TD width="3%" align=left>&nbsp;</TD>
     <TD width="1%" align=left>&nbsp;</TD>
     <TD width=66% align=left>&nbsp;</TD>
     <TD width=2%>&nbsp;</TD>
     <TD width=6% align=right><b><font size=2 baseface="serif" face="serif">2005</font></b></TD>
     <TD width=2% align=right GUTTER>&nbsp;</TD>
     <TD width=1% align="right">&nbsp;</TD>
     <TD width=6% align=right><b><font size=2 baseface="serif" face="serif">2004</font><sup><font size=2 baseface="serif" face="serif">(iv)</font></sup></b></TD>
     <TD width=2% align=center GUTTER>&nbsp;</TD>
     <TD width=1% align="center">&nbsp;</TD>
     <TD width=6% align=left>&nbsp;</TD>
     <TD width=2% align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="3" align=left>
<B></B> <b><font size=2 baseface="serif" face="serif">SUBSCRIBERS</font></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=3% align=left>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=66% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Total cellular</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(i)</FONT></SUP>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">8,928,985</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,713,201</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=3% align=left>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=66% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Attributable cellular</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(ii)</FONT></SUP>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,694,953</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,903,552</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">30</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="3%">
        </TD>
        <TD width="1%">
        </TD>
        <TD width="66%">
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="6%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="1%"><HR noshade size=1>
        </TD>
        <TD width="6%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="1%"><HR noshade size=1>
        </TD>
        <TD width="6%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
     <TD colspan="3" align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="3" align=left>          <b><font size=2 baseface="serif" face="serif">REPORTED NUMBERS</font></b> </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD colspan="3" align=left>
<B></B> <b><font size=2 baseface="serif" face="serif">US&#36; &#145;000</font></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD colspan="3" align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="3" align=left>          <font size=2 baseface="serif" face="serif">Revenues</font></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,083,669</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">917,492</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">18</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width="3%" align=left>&nbsp;
</TD>
        <TD width="1%" align=left>&nbsp;</TD>
        <TD width="66%" align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD colspan="3" align=left>          <font size=2 baseface="serif" face="serif">Operating profit before
                  interest, taxes, depreciation and amortization,
          EBITDA</font><sup><font size=2 baseface="serif" face="serif">(iii)</font></sup></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">489,780</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">455,467</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">8</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
     <TD colspan=3 align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <font size=2 baseface="serif" face="serif">EBITDA margin</font> </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">45.2%</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;
</TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">49.6%</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;
</TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD colspan=3 align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <font size=2 baseface="serif" face="serif">Profit for the year</font></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">10,043</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">65,891</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD colspan=3>       <hr noshade size=2></TD>
        <TD width="2%"><HR noshade size=2>
        </TD>
        <TD width="6%">
<HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="1%"><HR noshade size=2>
        </TD>
        <TD width="6%">
<HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="1%"><HR noshade size=2>
        </TD>
        <TD width="6%">
<HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>       <b><font size=2 baseface="serif" face="serif">PRO FORMA SUBSCRIBERS</font></b><b><sup><font size=2 baseface="serif" face="serif">(v)</font></sup></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=3% align=left>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=66% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Total cellular</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(i)</FONT></SUP>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">8,928,985</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,863,913</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">52</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=3% align=left>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=66% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Attributable cellular</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(ii)</FONT></SUP>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,694,953</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,060,577</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">52</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="3%">
        </TD>
        <TD width="1%">
        </TD>
        <TD width="66%">
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="6%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="1%"><HR noshade size=1>
        </TD>
        <TD width="6%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="1%"><HR noshade size=1>
        </TD>
        <TD width="6%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
     <TD colspan=3 align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 baseface="serif" face="serif">PRO FORMA NUMBERS</font></b><b><sup><font size=2 baseface="serif" face="serif">(v)</font></sup></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <b><font size=2 baseface="serif" face="serif">US&#36; &#145;000</font></b> </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD colspan=3 align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <font size=2 baseface="serif" face="serif">Revenues</font></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,019,928</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">775,230</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <font size=2 baseface="serif" face="serif">Operating profit before
          interest, taxes, depreciation and amortization, EBITDA</font><sup><font size=2 baseface="serif" face="serif">(iii)</font></sup> </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">442,839</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">354,836</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">25</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <font size=2 baseface="serif" face="serif">EBITDA margin</font> </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43.4
<FONT size=2 BASEFACE="serif" face="serif">%</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">45.8
<FONT size=2 BASEFACE="serif" face="serif">%</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;
</TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=right>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>          <font size=2 baseface="serif" face="serif">Profit for the year</font></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">9,595</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27,112</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=1%>&nbsp;
        </TD>
        <TD width=6% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD colspan=3>       <HR noshade size=2></TD>
        <TD width="2%"><HR noshade size=2>
        </TD>
        <TD width="6%"><HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER><HR noshade size=2>
        </TD>
        <TD width="1%"><HR noshade size=2>
        </TD>
        <TD width="6%"><HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER><HR noshade size=2>
        </TD>
        <TD width="1%"><HR noshade size=2>
        </TD>
        <TD width="6%">
<HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<br>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(i)</FONT></I></TD>
        <TD width=95%>
<I><FONT size=2 BASEFACE="serif" face="serif">Total subscriber figures represent the worldwide total number of subscribers of cellular systems in which Millicom has an ownership interest.</FONT></I>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(ii)</FONT></I></TD>
        <TD width=95%>
<I><FONT size=2 BASEFACE="serif" face="serif">Attributable subscribers are calculated as 100% of subscribers in Millicom&#146;s subsidiary operations and Millicom&#146;s percentage ownership of subscribers in each joint venture operation.
Millicom is reporting attributable subscribers in place of proportional subscribers (which in previous reports were calculated as the sum of Millicom&#146;s percentage ownership of subscribers in each operation), so that now both subscribers and
revenues are reported using the same methodology, bringing consistency to the reporting of key performance indicators.</FONT></I>       </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(iii)</FONT></I></TD>
        <TD width=95%>
<I><FONT size=2 BASEFACE="serif" face="serif">EBITDA: operating profit before
interest, taxation, depreciation and amortization, is derived by deducting cost
of sales, sales and marketing costs, general and administrative expenses from
 revenues and other operating income.</FONT></I></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(iv)</FONT></I></TD>
        <TD width=95%>
<I><FONT size=2 BASEFACE="serif" face="serif">Comparative information restated
as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1,
revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs.</FONT></I></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(v)</FONT></I></TD>
        <TD width=95%>
<I><FONT size=2 BASEFACE="serif" face="serif">Pro forma numbers for current and
previous quarters exclude Millicom&#146;s operation in Vietnam, where the BCC
ended on May 18, 2005 and include Millicom&#146;s joint venture in Honduras with
 a percentage ownership of 66.67%, to reflect the increase in ownership from
50% to 66.67% in May 2005.</FONT></I></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">2</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">FINANCIAL AND OPERATING SUMMARY</FONT></U></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Strong subscriber growth with total cellular subscribers at 8.9 million, an increase of 16% compared to last year, or 52% on a pro forma basis.</FONT>    </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom surpassed 9 million
subscribers in mid January 2006.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">1,016,446 net new total
subscribers added in Q4 2005.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Revenue of &#36;294 million
in Q4 2005, exceeding Q1 2005 revenue of which Vietnam accounted for 18%.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Revenue for Q4 2005 up
15% vs Q4 2004, or 36% on a pro forma basis.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Record EBITDA of &#36;130
million in Q4 2005.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">EBITDA for Q4 2005 up 5%
vs Q4 2004, or 34% on a proforma basis.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Cash generated from operations
for the twelve months to December 2005 of &#36;580 million, funding significantly
higher investments of &#36;444 million versus &#36;187 million last
year.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Included in investments are Capex of &#36;170 million for the fourth quarter and &#36;354 million for the twelve months ended December 31, 2005.</FONT>   </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Net debt excluding the
5% mandatory exchangeable notes of &#36;321 million with a Net Debt to EBITDA
ratio below 1:1 enabling significant future investment.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Cash and cash equivalents
of &#36;597 million at end of Q4 2005.</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Total cellular minutes increased by 20% for the three months ended December 31, 2005 from the same quarter in 2004 and prepaid minutes increased by 37% in the same period. Total pro forma minutes
increased by 53% and pro forma prepaid minutes by 64%.</FONT>   </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">At December 31, 2005, managed active subscribers in Iran amounted to 450,000.</FONT>      </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom launched state-of-the-art GSM services including GPRS, EDGE, MMS and E-pin under the brand name Tigo in Chad in October 2005 and in Bolivia in December 2005. All of Millicom&#146;s 16
operations now operate GSM networks.</FONT>     </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">On January 19, 2006, Millicom announced that, following receipt of a high number of unsolicited approaches, the Board has decided to conduct a review of strategic options for the Company and has
appointed Morgan Stanley as financial advisor.</FONT>   </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">On February 1, 2006, Millicom announced the completion of the buyout of its minority partners in MIC Tanzania Limited and Millicom Sierra Leone Limited. Millicom also reached agreement to cancel
a call option on an equity interest in Millicom Ghana Limited. Following these transactions, Millicom has 100% ownership in all three operations.</FONT>        </TD>
</TR></TABLE>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">3</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">REVIEW OF OPERATIONS</FONT></U></B></P>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">SUBSCRIBER GROWTH</FONT></U></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">In the fourth quarter of 2005 Millicom&#146;s worldwide operations in Asia, Latin America and Africa added 1,016,446 net new total cellular subscribers. </FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">At December 31, 2005, Millicom&#146;s total cellular subscriber base increased by 16% to 8,928,985 cellular subscribers from 7,713,201 as at December 31, 2004.  The pro forma increase was 52%.
Particularly significant year on year percentage increases were recorded in Guatemala (73%), Senegal (100%), Laos (90%) and in Pakistan by Paktel (107%), which is starting up its GSM business. Millicom&#146;s attributable subscriber base increased
to 7,694,953 as at December 31, 2005 from 5,903,552 as at December 31, 2004, an increase of 30%. On a pro forma basis, attributable subscribers increased by 52% (note ii page 2).</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Within the 8,928,985 total cellular subscribers reported at the end of the fourth quarter, 8,426,308 or 94% were prepaid subscribers.</FONT></P>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">FINANCIAL RESULTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2005</FONT></U></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Total revenues for the three months ended December 31, 2005 were &#36;294.1 million, an increase of 15% from the fourth quarter of 2004. The pro forma increase in revenues was 36% over the same
period. The Central American market continued to perform strongly, producing a 62% increase in revenues from &#36;87.8 million for the fourth quarter of 2004 to &#36;142.0 million for the fourth quarter of 2005, with Guatemala producing growth of
82%. In South America, revenues increased by 24% to &#36;40.0 million, with Bolivia and Paraguay producing revenue increases of 23% and 25% respectively compared to the fourth quarter of 2004. In 2005 the roll-out of GSM in Latin America was
completed with the launch of GSM services in Bolivia, enabling Millicom to pursue higher value customers with value-added services, which have led to strong levels of ARPU across Latin America. Furthermore, the Tigo brand has been an outstanding
success as it has established its position as a price leading product and is the main driver in bringing new customers onto the network.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom has begun to spend significant capex across its African operations to grow its networks in terms of capacity and coverage. The fourth quarter revenues for Africa were &#36;58.1 million
compared to &#36;44.3 million in the fourth quarter of 2004, an increase of 31%. The strongest markets were Ghana and Tanzania which grew by 28% and 24% respectively. Revenues for South East Asia declined to &#36;23.9 million over the same period,
due to the end of the BCC in Vietnam in May 2005.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">In South Asia, Millicom recorded revenue growth of 16% to &#36;28.9 million, from &#36;24.9 million in the fourth quarter of 2004. Paktel&#146;s GSM operation has faced technical network issues
and in such a competitive market, this has held back growth. Added investment in the network will solve these issues in the coming months and will enable Paktel to recover market share. The number of active GSM subscribers grew from 747,146 at the
end of the third quarter of 2005 to 871,809 at the end of the fourth quarter, representing 87% of Paktel&#146;s total subscriber base, with a monthly ARPU of approximately &#36;5. </FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">EBITDA for the three months ended December 31, 2005 was &#36;130.2 million, a 5% increase from the fourth quarter of 2004 representing a 44% margin. On a pro forma basis EBITDA increased by 34%
from the fourth quarter of 2004. Central America recorded growth in EBITDA of 68% from the fourth quarter of 2004 to &#36;75.1 million and the equivalent increase for South America was 29%, giving EBITDA of &#36;16.6 million. EBITDA for Africa
decreased by 2% to &#36;21.4 million in the fourth quarter of 2005, from &#36;21.8 million in the fourth quarter of 2004, mainly due to start-up costs in Chad and the Democratic Republic of Congo.</FONT></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">4</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">EBITDA for South Asia increased by 56% to &#36;7.6m in the fourth quarter of 2005 from &#36;4.9m in the fourth quarter of 2004, when sales and marketing costs associated with the launch of GSM
services impacted EBITDA. For South East Asia, EBITDA for the fourth quarter of 2005 was lower at &#36;11.0m, due to the end of the ten-year BCC in Vietnam in May 2005.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">The EBITDA margin in the fourth quarter of 2005 was 44%. For South Asia it was 26% and for South East Asia it was 46%.  Central America and South America recorded EBITDA margins of 53% and 42%
respectively in the fourth quarter of 2005. The EBITDA margin for Africa was 37%.</FONT></P>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2005.</FONT></U></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Total revenues for the year ended December 31, 2005 were &#36;1,083.7 million, an increase of 18% over 2004, or 32% on a pro forma basis. Revenues for Central America were &#36;452.6 million, an
increase of 48%, and for South America, revenues were &#36;141.1 million, up 24%. Revenues for Africa were &#36;204.4 million, increasing by 36%. In South East Asia revenues were &#36;161.5 million and for South Asia, revenues were up 7% to
&#36;120.7 million.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">EBITDA was &#36;489.8 million for the year ended December 31, 2005, an increase of 8% over 2004, or 25% on a pro forma basis. Most notably Central America recorded a 50% increase to &#36;233.0
million for the year. EBITDA for South America was &#36;57.0 million, up 28% from 2004. EBITDA for Africa increased by 34% from 2004 to &#36;88.2 million for the year ended December 31, 2005. EBITDA for South East Asia and South Asia for the year
ended December 31, 2005 was respectively &#36;88.7 million and &#36;25.1 million.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">The Group EBITDA margin for the year ended December 31, 2005 was 45%, for Central America it was 51%, for South America 40%, for South East Asia 55%, for South Asia 21% and for Africa
43%.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Total cellular minutes increased by 28% for the year ended December 31, 2005 compared with 2004.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Annual increases in revenue and EBITDA were due to similar factors noted in the previous section.</FONT></P>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">COMMENTS ON FINANCIAL STATEMENTS</FONT></U></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">For the fourth quarter of 2005, the increase in the market price of the Tele2 shares resulted in a valuation movement of &#36;14 million. Furthermore the conversion to the US dollar of the 5%
mandatory exchangeable Notes in Tele2 shares (&#145;the 5% Notes&#146;) resulted in an exchange gain of &#36;8 million. Offsetting these gains was the valuation of the embedded derivative on the 5% Notes resulting in a fair value loss of &#36;22
million.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">As Millicom is currently negotiating the sale of Pakcom, all assets and liabilities line items relating to Pakcom are grouped respectively under the caption assets held for sale and liabilities
directly associated with assets held for sale.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom Peru S.A. has been treated as a discontinued operation in 2005 and the comparative figures have been restated.</FONT></P>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">NOMINATIONS COMMITTEE FOR THE 2006 ANNUAL GENERAL MEETING OF SHAREHOLDERS</FONT></U></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">The Nominations Committee of Millicom (whose members are Donna Cordner, Ernest Cravatte and Daniel Johannesson) will submit a proposal for the composition of the Board of Directors that will be
presented for approval to the 2006 Annual General Meeting of Shareholders which will be held on Tuesday, May 30, 2006.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Shareholders who would like to suggest representatives for the Millicom Board of Directors can send a letter to AGM, Millicom International Cellular S.A., 75 Route de Longwy, L-8080 Bertrange,
Luxembourg or an e-mail to </FONT><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">agm@millicom.com</FONT></U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">.</FONT></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">5</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="left">
<I><FONT size=2 BASEFACE="serif" face="serif">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&#146;s cellular operations have a combined population under license of approximately 383 million people.</FONT></I></P>
<P align="left">
<I><FONT size=2 BASEFACE="serif" face="serif">This press release may contain certain &#147;forward-looking statements&#148; with respect to Millicom&#146;s expectations and plans, strategy, management&#146;s objectives, future
performance, costs, revenues, earnings and other trend information.  It is important to note that Millicom&#146;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&#146;s most recent annual report on Form 20-F,
for a discussion of certain of these factors.</FONT></I></P>
<P align="left">
<I><FONT size=2 BASEFACE="serif" face="serif">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&#146;s behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these
forward-looking statements.</FONT></I></P>
<TABLE border=0 width=90% cellspacing=0 cellpadding=0>
<TR valign="bottom">
        <TD width=43% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">CONTACTS:</FONT></B>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=right>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Marc Beuls</FONT></B>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Telephone:</FONT></B>
        </TD>
        <TD GUTTER width=2% align=right>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">+</FONT></B>
        </TD>
        <TD width=18% align=left>
 &nbsp;<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">352 27 759 327</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">President and Chief Executive Officer</FONT>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom International Cellular S.A., Luxembourg</FONT>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=right>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">David Sach</FONT></B>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Telephone:</FONT></B>
        </TD>
        <TD GUTTER width=2% align=right>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">+</FONT></B>
        </TD>
        <TD width=18% align=left>
 &nbsp;<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">352 27 759 325</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Chief Financial Officer</FONT>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom International Cellular S.A., Luxembourg</FONT>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
     <TD align=left>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD GUTTER align=right>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Andrew Best</FONT></B>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Telephone:</FONT></B>
        </TD>
        <TD GUTTER width=2% align=right>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">+</FONT></B>
        </TD>
        <TD width=18% align=left>
 &nbsp;<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">44 20 7321 5022</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Investor Relations</FONT>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Shared Value Ltd, London</FONT>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=43% align=left>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Visit our web site at </FONT><B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">http://www.millicom.com</FONT></U></B>
        </TD>
        <TD width=26%>&nbsp;
        </TD>
        <TD width=11% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=18% align=left>&nbsp;

        </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">CONFERENCE CALL DETAILS</FONT></U></B></P>
<P align="left">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">A conference call to discuss the results will be held at 15.00CET / 09.00 ET, on Tuesday, February 14, 2006. The dial-in numbers are: +44 (0)20 7138 0819 or +1 718 354 1361 and participants
should quote Millicom International Cellular.  A live audio stream of the conference call can also be accessed at </FONT></B><B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">www.millicom.com</FONT></U></B><B><FONT BASESIZE=2 size=2
BASEFACE="serif" face="serif">. Please dial in / log on 5 minutes prior to the start of the conference call to allow time for registration. A recording of the conference call will be available for 7 days after the conference call, commencing
approximately 30 minutes after the live call has finished, on: +44 (0)20 7806 1970 or +1 718 354 1112, access code: 8464930#.</FONT></B></P>
<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">APPENDICES</FONT></U></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated statements
of profit and loss for the three months ended December 31, 2005 and 2004.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated statements
of profit and loss for the years ended December 31, 2005 and 2004.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated balance
sheets as at December 31, 2005 and 2004.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Condensed consolidated
statements of cash flows for the years ended December 31, 2005 and 2004.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Condensed consolidated
statements of changes in shareholders&#146; equity for the years ended December
31, 2005 and 2004.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Quarterly analysis by
cluster.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Total subscribers and
market position by country.</FONT></B></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD>
</TR><TR>
        <TD width="5%" valign=top>
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">&#149;</FONT></TD>
        <TD width=95%>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Pro forma consolidated
statements of profit and loss for the three months ended December 31, 2005, September
30, 2005 and December 31, 2004.</FONT></B></TD>
</TR></TABLE>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">6</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3>
<PAGE>
<BR>
<BR>

<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom
International Cellular S.A.<br>
</FONT></B><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated
      statements of profit and loss<br>
  for the three months ended December 31, 2005
and 2004</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD colspan="6" align=left><HR noshade size=2></TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align="right" nowrap> <FONT size=2 BASEFACE="serif" face="serif"><strong>Quarter ended<br>
Dec 31, 2005</strong><br>
(Unaudited)<br>
</FONT></TD>
  <TD colspan="2" align=right nowrap GUTTER> <FONT size=2 BASEFACE="serif" face="serif"><strong>Quarter
        ended<br>
Dec 31, 2004 (i)</strong><br>
(Unaudited)<br>
</FONT> </TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right><FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;000</FONT> </TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right><FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;000</FONT> </TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Revenues</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">294,067</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">254,825</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Operating expenses</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;&nbsp;<FONT size=2 BASEFACE="serif" face="serif">Cost of sales (excluding depreciation and amortization)</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(85,612</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(67,251</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Sales and marketing</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(46,478</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(37,143</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;General and administrative expenses</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(34,936</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(29,824</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Other operating income</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,128</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,287</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">EBITDA</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">130,169</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">123,894</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Corporate costs</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(4,681</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(5,902</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Cost of stock options granted to directors and employees</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(703</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(614</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Write-down of assets, net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(16,265</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(7,204</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Depreciation and amortization</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(51,803</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(51,643</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Operating profit</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">56,717</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">58,531</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Gain / (loss) on exchange and disposal of investments</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">493</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(44</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Valuation movement on investment in securities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,001</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">17,999</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Fair value result on financial instruments</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(21,830</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16,414</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Interest expense</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(37,509</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(31,203</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Interest and other income</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,175</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,684</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Exchange gain / (loss), net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,333</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(28,444</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Profit from associated companies</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">845</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">311</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">Profit before taxes</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">33,225</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">36,248</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Taxes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(20,812</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(8,727</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">Net Profit after taxes</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12,413</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27,521</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Minority interest</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,587</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(2,598</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">Net Profit for the period from continuing operations</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,000</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">24,923</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Result from discontinued operations</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,896</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">432</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net Profit for the period</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">15,896</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">25,355</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Basic earnings per common share (US&#36;)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.16</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.28</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Weighted average number of shares</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">outstanding in the period (in thousands)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">98,937</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">91,893</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Profit for the period used to determine diluted earnings per</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">common share</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">15,896</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">25,355</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD GUTTER>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD GUTTER>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Diluted earnings per common share (US&#36;)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.16</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.27</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD GUTTER>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD GUTTER>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Weighted average number of shares and potential</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">dilutive shares outstanding in the period (in thousands)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">99,927</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">92,461</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 BASEFACE="serif" face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1, revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs</FONT></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">7</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom
International Cellular S.A.<br>
</FONT></B><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated
      statements of profit and loss<br>
      for the years ended December 31, 2005 and
2004</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD colspan="6" align=left><HR noshade size=2></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align="right" nowrap> <FONT size=2 BASEFACE="serif" face="serif"><strong>Quarter
          ended<br>
    Dec 31, 2005</strong><br>
    (Unaudited)<br>
    </FONT></TD>
    <TD colspan="2" align=right nowrap GUTTER> <FONT size=2 BASEFACE="serif" face="serif"><strong>Quarter
          ended<br>
    Dec 31, 2004 (i)</strong><br>
    (Unaudited)<br>
    </FONT></TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;000</FONT> </TD>
    <TD GUTTER align=left>&nbsp;</TD>
    <TD align=right><FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;000</FONT> </TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Revenues</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,083,669</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">917,492</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Operating expenses</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Cost of sales (excluding depreciation and amortization)</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(304,992</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(244,788</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Sales and marketing</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(162,050</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(122,216</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;General and administrative expenses</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(132,291</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(98,308</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Other operating income</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,444</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,287</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">EBITDA</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">489,780</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">455,467</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Corporate costs</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(23,137</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(26,244</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Cost of stock options granted to directors and employees</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(3,075</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,851</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Write-down of assets, net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(51,541</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(9,853</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Depreciation and amortization</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(218,590</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(170,330</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Operating profit</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">193,437</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">247,189</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Gain on exchange and disposal of investments</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,437</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">193</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Valuation movement on investment in securities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(63,356</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(127,158</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Fair value result on financial instruments</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(5,297</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">148,816</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Interest expense</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(143,740</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(108,514</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Interest and other income</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">31,312</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,697</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Exchange gain / (loss), net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">52,446</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(26,782</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Profit from associated companies</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,296</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">814</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Profit before taxes</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">68,535</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">142,255</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Taxes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(65,299</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(59,449</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net Profit after taxes</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,236</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">82,806</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Minority interest</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,132</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(16,790</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net Profit for the year from continuing operations</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">9,368</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">66,016</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">&nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;</FONT>Result from discontinued operations</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">675</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(125</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net profit for the year</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">10,043</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">65,891</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Basic earnings per common share (US&#36;)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.10</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.79</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Weighted average number of shares</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">outstanding in the year (in thousands)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">98,803</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">83,335</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Profit for the year used to determine diluted earnings per</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">common share</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">10,043</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">65,891</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Diluted earnings per common share (US&#36;)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.10</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">0.73</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Weighted average number of shares and potential</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">dilutive shares outstanding in the year (in thousands)</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">99,920</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">90,312</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 BASEFACE="serif" face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1, revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs</FONT></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">8</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom
International Cellular S.A.<br>
</FONT></B><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated
      balance sheets<br>
as at December 31, 2005 and December 31, 2004</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD colspan="6" align=left><HR noshade size=2></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align="right" nowrap> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2005</strong><br>
    (Unaudited)<br>
    </FONT> </TD>
    <TD colspan="2" align=right nowrap GUTTER> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2004 (i)</strong><br>
    (Unaudited)<br>
    </FONT></TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
        <TD width=72% align=left>
<B><U><FONT size=2 BASEFACE="serif" face="serif">Assets</FONT></U></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
    <TD width=4% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Non-current assets</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>&nbsp;</TD>
        <TD width=4% align="right">&nbsp;
        </TD>
        <TD width=8% align=right>&nbsp;</TD>
    <TD width=4% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;&nbsp;<FONT size=2 BASEFACE="serif" face="serif">Intangible assets</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
    <TD width=4% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Goodwill</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">73,348</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">37,702</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Licenses, net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">271,937</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">277,705</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Other intangible assets, net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27,968</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,561</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Property, plant and equipment, net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">671,774</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">575,649</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Financial assets</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
    <TD width=4% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Investment in Tele2 AB shares</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">351,882</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Investment in other securities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,307</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">10,540</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Investment in associates</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,367</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,220</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Embedded derivative on the 5% Mandatory Exchangeable Notes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">45,255</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Pledged deposits</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,500</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">25,544</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;&nbsp;<FONT size=2 BASEFACE="serif" face="serif">Deferred taxation</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,817</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,883</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%"><HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total non-current assets</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,068,018</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,334,941</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%"><HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Current assets</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
    <TD width=4% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;&nbsp;<FONT size=2 BASEFACE="serif" face="serif">Financial assets</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
    <TD width=4% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Investment in Tele2 AB shares</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">288,526</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Embedded derivative on the 5% Mandatory Exchangeable Notes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">39,277</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Investment in other securities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,687</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">15,327</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Inventories</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16,369</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16,304</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Trade receivables, net</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">109,165</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">141,972</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Amounts due from joint ventures and joint venture partners</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">17,036</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">11,715</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Amounts due from other related parties</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,004</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,067</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Prepayments and accrued income</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">48,046</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">38,258</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Other current assets</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">67,497</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">62,377</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Pledged deposits</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">47,035</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">9,260</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left> &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Time deposits</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">108</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">610</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Cash and cash equivalents</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">596,567</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">413,381</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%"><HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total current assets</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,241,317</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">711,271</FONT>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%"><HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Assets held for sale</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">250,087</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%"><HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total assets</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,559,422</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,046,212</FONT></B>
        </TD>
    <TD width=4% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="4%"><HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
    <TD width="4%">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 BASEFACE="serif" face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1, revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs</FONT></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">9</FONT><BR>
<BR>
</P>

<HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom
International Cellular S.A.<br>
</FONT></B><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Consolidated
      balance sheets<br>
as at December 31, 2005 and December 31, 2004</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD colspan="6" align=left><HR noshade size=2></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align="right" nowrap> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2005</strong><br>
    (Unaudited)<br>
    </FONT> </TD>
    <TD colspan="2" align=right nowrap GUTTER> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2004 (i)</strong><br>
    (Unaudited)<br>
    </FONT></TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><U><FONT size=2 BASEFACE="serif" face="serif">Equity and liabilities</FONT></U></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Equity</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Share capital and premium (represented by 99,703,598 shares as of December 31, 2005)</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">465,153</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">513,782</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Treasury stock (represented by 654,852 shares as of December 31, 2005)</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(8,833</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(8,833</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">4% Convertible Notes &#150; equity component</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">39,109</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Stock option compensation reserve</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,910</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,297</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Revaluation reserve</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,308</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Legal reserve</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13,577</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13,577</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Retained losses brought forward</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(151,779</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(278,512</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Net Profit for the year</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">10,043</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">65,891</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Currency translation reserve</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(76,117</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(71,116</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Minority interest</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">34,179</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43,351</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total equity</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">333,550</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">280,437</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<B><FONT size=2 BASEFACE="serif" face="serif">Non-current liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">10% Senior Notes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">537,599</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">536,629</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">4% Convertible Notes &#150; Debt component</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">163,284</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">5% Mandatory Exchangeable Notes &#150; Debt component</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">365,006</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Other debt and financing</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">120,041</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">124,267</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Other non-current liabilities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">203,988</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">194,774</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Deferred taxation</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">45,228</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">39,216</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total non-current liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,070,140</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,259,892</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp;<B><FONT size=2 BASEFACE="serif" face="serif">Current liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=left>&nbsp;

        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">5% Mandatory Exchangeable Notes &#150; Debt component</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">315,359</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Other debt and financing</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">96,340</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">88,511</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Trade payables</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">211,019</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">173,969</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Amounts due to joint ventures</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,122</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,760</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Amounts due to related parties</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,459</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">975</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Accrued interest and other expenses</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">61,236</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">55,203</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 BASEFACE="serif" face="serif">Other current liabilities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">206,473</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">179,465</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total current liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">909,008</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">505,883</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Liabilities directly associated with assets held for sale</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">246,724</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,225,872</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,765,775</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total equity and liabilities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,559,422</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,046,212</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>     </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 BASEFACE="serif" face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1, revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs</FONT></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">10</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom
      International Cellular S.A.<br>
</FONT></B><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Condensed
      consolidated statements of cash flows<br>
  for the years ended December 31,
2005 and 2004</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD colspan="6" align=left><HR noshade size=2></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align="right" nowrap> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2005</strong><br>
    (Unaudited)<br>
    </FONT> </TD>
    <TD colspan="2" align=right nowrap GUTTER> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2004</strong><br>
    (Unaudited)<br>
    </FONT></TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">EBITDA</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">489,780</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">455,467</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Movements in working capital</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">89,897</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,313</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Cash generated from operations</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">579,677</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">469,780</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Net interest paid and other costs</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(104,396</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(126,549</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Taxes paid</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(68,116</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(39,988</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net cash provided by operating activities</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">407,165</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">303,243</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Cash flow used by investing activities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(443,659</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(187,147</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Cash flow provided by financing activities</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">221,399</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">149,842</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net increase in cash and cash equivalents</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">184,905</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">265,938</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Cash and cash equivalents, beginning</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">413,381</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">148,829</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Cash effect of exchange rate changes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,719</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,386</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Cash and cash equivalents, ending</FONT></B>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">596,567</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">413,381</FONT></B>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom International Cellular S.A.</FONT></B></P>
<P align="center">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Condensed consolidated
statements of changes in equity<br>
for the years ended December 31, 2005 and 2004</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD colspan="6" align=left><HR noshade size=2></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align="right" nowrap> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2005</strong><br>
    (Unaudited)<br>
    </FONT> </TD>
    <TD colspan="2" align=right nowrap GUTTER> <FONT size=2 BASEFACE="serif" face="serif"><strong>Dec
          31,<br>
    2004</strong><br>
    (Unaudited)<br>
    </FONT></TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><font size=2 baseface="serif" face="serif">US&#36; &#146;000</font> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD GUTTER align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Equity as at January 1</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">280,437</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(60,067</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Derecognition of negative goodwill on January 1</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">8,202</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Profit for the year</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">10,043</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">65,891</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Stock option scheme</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,075</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,851</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Fair value gain on available for sale financial assets</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,308</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Net proceeds of equity offering</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">203,616</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Shares issued via the exercise of stock options</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,549</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,867</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Equity component of 4% Convertible Bonds</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">39,109</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Conversion of 2% PIK Notes</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">51,417</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Movement in currency translation reserve</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(5,001</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,918</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Minority interest</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(9,172</FONT>
        </TD>
        <TD GUTTER width=4% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16,780</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=72% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Equity as at December 31</FONT>
        </TD>
        <TD width=4%>&nbsp;
        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">333,550</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
        <TD width=8% align=right>
<FONT size=2 BASEFACE="serif" face="serif">280,437</FONT>
        </TD>
        <TD GUTTER width=4% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="72%">
        </TD>
        <TD width="4%">
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="4%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<BR>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">11</FONT><BR>
</P>

<HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom International
Cellular S.A.<br>
</FONT></B><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Quarterly
analysis by cluster</FONT></B></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD colspan="19" align=left><HR noshade size=2></TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center> <B><FONT size=2 BASEFACE="serif" face="serif">05 Q4</FONT></B> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <B><FONT size=2 BASEFACE="serif" face="serif">05 Q3</FONT></B> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <B><FONT size=2 BASEFACE="serif" face="serif">05 Q2</FONT></B> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <B><FONT size=2 BASEFACE="serif" face="serif">05 Q1</FONT></B> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <B><FONT size=2 BASEFACE="serif" face="serif">04 Q4</FONT></B> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD colspan="2" align=center> <B><FONT size=2 BASEFACE="serif" face="serif">Increase<br>
Q4 04 to Q4 05</FONT></B></TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total cellular subs</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Central America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,737,126</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,314,053</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,063,247</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,859,130</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,697,036</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">61</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,337,739</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,152,309</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,056,475</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">985,715</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">937,397</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Africa</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,006,634</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,695,265</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,425,291</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,294,795</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,120,615</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">79</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,997,150</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,966,724</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,923,088</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,677,299</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,458,846</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">37</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">850,336</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">784,188</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">737,548</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,724,656</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,499,307</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-66</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="34%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>     </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>     </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>     </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>     </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>     </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>     </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Total</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">8,928,985</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,912,539</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,205,649</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">8,541,595</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,713,201</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">16</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Vietnam</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(2,020,995</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,849,288</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">16.67% of Honduras</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Pro forma Total*</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">8,928,985</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,912,539</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,205,649</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">6,520,600</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">5,863,913</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">52</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Attributable cellular subs</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Central America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,935,272</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,652,924</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,484,783</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,251,120</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,149,299</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">68</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,337,739</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,152,309</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,056,475</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">985,715</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">937,397</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Africa</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,896,084</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,597,839</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,337,729</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,211,282</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,036,832</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">83</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,997,150</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,966,724</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,923,088</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,677,299</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,458,846</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">37</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">528,708</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">486,161</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">454,880</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,441,502</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,321,178</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-60</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Total</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,694,953</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">6,855,957</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">6,256,955</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">6,566,918</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">5,903,552</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">30</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Vietnam</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,010,498</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(924,644</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">16.67% of Honduras</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">92,475</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">81,669</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>

<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Pro forma Total*</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,694,953</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">6,855,957</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">6,256,955</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">5,648,895</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">5,060,577</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">52</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Revenues (US&#36; &#146;000)</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Central America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">141,986</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">120,370</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">101,652</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">88,592</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">87,759</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">62</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">40,018</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">36,582</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">33,383</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">31,211</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32,302</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">24</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Africa</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">58,067</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">50,390</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">47,986</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">47,954</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">44,317</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">31</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">28,913</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">30,490</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">31,611</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">29,704</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">24,872</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">23,903</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21,832</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">45,492</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">70,296</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">64,668</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-63</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Other</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(i)</FONT></SUP>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,180</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">965</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">604</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">488</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">907</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">30</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Total</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">294,067</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">260,629</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">260,728</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">268,245</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">254,825</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">15</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Vietnam</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(24,457</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(49,594</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(44,711</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">16.67% of Honduras</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,489</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,821</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5,945</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Pro forma total*</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">294,067</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">260,629</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">240,760</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">224,472</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">216,059</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">36</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">EBITDA (US&#36; &#146;000)</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Central America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">75,071</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">62,470</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">51,136</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">44,331</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">44,686</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">68</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South America</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">16,634</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,134</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13,814</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12,375</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12,894</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">29</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Africa</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">21,446</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21,943</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">23,568</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21,210</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21,805</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">7,617</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,113</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,397</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,955</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,877</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">56</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">11,014</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,622</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27,500</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43,544</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">40,338</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-73</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Other</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(i)</FONT></SUP>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">(1,613</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">)</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(498</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(132</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">129</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(706</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-128</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Total</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">130,169</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">110,784</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">122,283</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">126,544</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">123,894</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">5</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Vietnam</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">425</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,251</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(19,554</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(34,863</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(29,634</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">16.67% of Honduras</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,614</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,186</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,320</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=34% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Pro forma total*</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">130,594</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">112,035</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">105,343</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">94,867</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">97,580</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">34</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR>
  <TD><HR noshade size=1> </TD>
  <TD><HR noshade size=1> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<I><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Pro forma numbers exclude Millicom&#146;s operation in Vietnam, where the BCC ended on May 18, 2005 and include Millicom&#146;s joint venture in Honduras with a percentage ownership of 66.67%,
to reflect the increase in ownership from 50% to 66.67% in May 2005.</FONT></I></P>
<P align="left">
<I><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(i) Excludes Peru as now considered a discontinued operation.</FONT></I></P>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">12</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR>
<br>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD colspan="19" align=center><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Millicom
    International Cellular S.A.</FONT></B></TD>
  <TD align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="19" align=center><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif"> Total
    subscribers and market position by country</FONT></B></TD>
  <TD align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="19" align=left><HR noshade size=2></TD>
  <TD width="14%" align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="2" align=center> <b><font size=2 baseface="serif" face="serif">Country and Equity<br>
Holding</font></b> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <b><font size=2 baseface="serif" face="serif">Country<br>
Population<br>
(millions)</font></b> </TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <b><font size=2 baseface="serif" face="serif">Market<br>
Penetration<sup>(i)</sup></font></b> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <b><font size=2 baseface="serif" face="serif">MIC Market<br>
Position<sup>(ii)</sup></font></b> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD colspan="6" align=center> <B><FONT size=2 BASEFACE="serif" face="serif">Total
    Subscribers</FONT></B> </TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD width="14%" align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="15%" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center> <b><font size=2 baseface="serif" face="serif">05 <b><font size=2 baseface="serif" face="serif">Q4</font></b> </font></b> </TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <b><font size=2 baseface="serif" face="serif">04 <b><font size=2 baseface="serif" face="serif">Q4</font></b> </font></b> </TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center> <b><font size=2 baseface="serif" face="serif">Annual<br>
Growth</font></b> </TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD width="14%" align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Central America</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;</TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">El Salvador</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(100.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6.7</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">33.7</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1
<FONT size=2 BASEFACE="serif" face="serif">of 5</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">738,980</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">534,288</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">38</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Guatemala</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(55.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12.6</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32.5</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 3</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,164,050</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">672,734</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">73</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Honduras</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(66.7</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7.2</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16.2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1
<FONT size=2 BASEFACE="serif" face="serif">of 2</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">834,096</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">490,014</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">70</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>&nbsp;

        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,737,126</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,697,036</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">61</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">South America</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Bolivia</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(100.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">9.3</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27.6</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 3</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">645,418</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">414,088</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">56</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Paraguay</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(96.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5.9</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">24.2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">692,321</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">523,309</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>&nbsp;

        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,337,739</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">937,397</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Africa</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Chad</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(87.5</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">9.1</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3.4</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 2</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">91,159</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">DRC</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(100.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">56.4</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4.7</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">60,638</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Ghana</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(100.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21.0</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12.2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">448,838</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">277,045</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">62</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Mauritius</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(50.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1.2</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">48.9</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 2</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">221,100</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">167,565</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Senegal</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(75.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">10.4</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14.1</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 2</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">679,914</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">339,884</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">100</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Sierra Leone</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(iii)</FONT></SUP></TD>
        <TD width=7% align=right><sup><font size=2 baseface="serif" face="serif"> </font></sup><font size=2 baseface="serif" face="serif">(100.0</font></TD>
        <TD GUTTER width=2% align=left><font size=2 baseface="serif" face="serif">%)</font>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5.5</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">29,606</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">33,409</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-11</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Tanzania </FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">(iv)</FONT></SUP>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(100.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">43.3</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7.9</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">475,379</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">302,712</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">57</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>&nbsp;

        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">2,006,634</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,120,615</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">79</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">South Asia</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Pakcom</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(61.3</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12.2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6
<FONT size=2 BASEFACE="serif" face="serif">of 6</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">421,242</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">534,734</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-21</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Paktel</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(98.9</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">155.3</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12.2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5
<FONT size=2 BASEFACE="serif" face="serif">of 6</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">996,478</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">481,566</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">107</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Sri Lanka</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(100.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">19.7</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">17.0</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">579,430</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">442,546</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">31</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>&nbsp;

        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">1,997,150</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,458,846</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">37</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">South East Asia</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;</TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Cambodia</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(58.4</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13.9</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">8.3</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">773,608</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">609,704</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Laos</FONT>
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(74.1</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">5.9</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7.7</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3
<FONT size=2 BASEFACE="serif" face="serif">of 4</FONT> </FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;</TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">76,728</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">40,315</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">90</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Vietnam</FONT>
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">83.5</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,849,288</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>&nbsp;

        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">850,336</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,499,307</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-66</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
      <HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
      <HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
      <HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
      <HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
      <HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Total Subscribers</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;</TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">8,928,985</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">7,713,201</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%"></TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">Vietnam</FONT>
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(1,849,288</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<FONT size=2 BASEFACE="serif" face="serif">16.67% of Honduras</FONT>
        </TD>
        <TD width=7% align=left>&nbsp;</TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">-</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="15%">
        </TD>
        <TD width="7%"></TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
        </TD>
        <TD width="2%" GUTTER>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="7%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
    <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=15% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Pro forma Total Subs*</FONT></B>
        </TD>
        <TD width=7% align=left>&nbsp;</TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">8,928,985</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">5,863,913</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=7% align=right>
<B><FONT size=2 BASEFACE="serif" face="serif">52</FONT></B>
        </TD>
        <TD GUTTER width=2% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">%</FONT></B>
        </TD>
    <TD GUTTER width=14% align=left>&nbsp;</TD>
</TR>
<TR>
  <TD width="15%"> </TD>
  <TD></TD>
  <TD GUTTER> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD GUTTER> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD GUTTER> </TD>
  <TD> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD width="14%" GUTTER>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
        <TD width="3%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(i)</FONT></I></TD>
        <TD width=97%>
<I><FONT size=2 BASEFACE="serif" face="serif">Source: EMC database</FONT></I>   </TD>
</TR><TR>
        <TD width="3%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(ii)</FONT></I></TD>
        <TD width=97%>
<I><FONT size=2 BASEFACE="serif" face="serif">Source: Millicom. Market share derived from active subscribers based on interconnect.</FONT></I>  </TD>
</TR><TR>
        <TD width="3%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(iii)</FONT></I></TD>
        <TD width=97%>
<I><FONT size=2 BASEFACE="serif" face="serif">A contract to acquire the remaining 30% was signed in December 2005, but the final payment and transfer of shares occurred in early January 2006</FONT></I>       </TD>
</TR><TR>
        <TD width="3%" valign=top nowrap>
<I><FONT size=2 BASEFACE="serif" face="serif">(iv)</FONT></I></TD>
        <TD width=97%>
<I><FONT size=2 BASEFACE="serif" face="serif">The remaining 15.6% of Tanzania was acquired in January 2006 so that Millicom now owns 100%.</FONT></I>   </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="right">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">13</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><U><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">PRO FORMA STATEMENTS OF PROFIT AND LOSS</FONT></U></B></P>
<P align="left">
<FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">The following table presents Millicom&#146;s pro forma consolidated statements of profit and loss on an ongoing basis, excluding Millicom&#146;s operation in Vietnam for which the Business
Cooperation Contract ended on May 18, 2005 and including Millicom&#146;s joint venture in Honduras with a percentage ownership of 66.67%, in order to reflect the increase in ownership from 50% to 66.67% in May 2005.</FONT></P>
<P align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Pro
      forma consolidated statements of profit and loss<br>
  for the three months ended
  December 31, 2005, September 30, 2005 and December 31, 2004</FONT></B></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
  <TD><HR noshade size=1> </TD>
  <TD><HR noshade size=1> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD GUTTER>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right> <B><FONT size=2 BASEFACE="serif" face="serif"><strong>Quarter
          ended<br>
Dec 31, 2005</strong><br>
</FONT></b><FONT size=2 BASEFACE="serif" face="serif">(Unaudited)</FONT> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right><FONT size=2 BASEFACE="serif" face="serif"><strong>Quarter ended<br>
Sept 30, 2005</strong><br>
(Unaudited)</FONT></TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right> <B><FONT size=2 BASEFACE="serif" face="serif">Quarter ended<br>
Dec 31, 2004 (i)<br>
</FONT></b><FONT size=2 BASEFACE="serif" face="serif">(Unaudited)</FONT> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right> <B><FONT size=2 BASEFACE="serif" face="serif">Change<br>
from Q305</FONT></B> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right> <B><FONT size=2 BASEFACE="serif" face="serif">Change<br>
from Q404</FONT></B> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right> <FONT size=2 BASEFACE="serif" face="serif"> <FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;</FONT>000</FONT> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right> <FONT size=2 BASEFACE="serif" face="serif"> <FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;</FONT>000</FONT> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right> <FONT size=2 BASEFACE="serif" face="serif"> <FONT size=2 BASEFACE="serif" face="serif">US&#36; &#146;</FONT>000</FONT> </TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Revenues</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">294,067</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">260,629</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">216,059</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">36</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Operating expenses</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Cost of sales (excluding depreciation and</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;amortization)</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(85,684</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(76,359</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(58,444</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">12</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">47</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Sales and marketing</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(46,044</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(38,332</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(34,838</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">20</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;General and administrative expenses</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(34,542</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(35,558</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(28,484</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-3</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Other operating income</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2,797</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,655</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">3,287</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">69</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-15</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">EBITDA</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">130,594</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">112,035</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">97,580</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">17</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">34</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Corporate costs</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(4,681</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(5,958</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(5,902</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-21</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-21</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Cost of stock options granted to directors and</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
<FONT size=2 BASEFACE="serif" face="serif">&nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;</FONT>employees</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(703</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(864</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(614</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-19</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Write-down of assets, net</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(16,265</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(7,221</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(7,195</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">125</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">126</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Depreciation and amortization</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(51,863</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(50,916</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(38,971</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">2</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">33</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Operating profit</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">57,082</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">47,076</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">44,898</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">27</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Gain (loss) on exchange and disposal of</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;investments</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">493</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">419</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(44</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">18</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left nowrap>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Valuation movement on
 investment in securities</FONT></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,001</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21,446</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">17,999</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-35</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-22</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Fair value result on financial instruments</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(22,802</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(18,044</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">16,310</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">26</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Interest expense</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(37,506</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(37,697</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(31,029</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-1</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">21</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Interest income</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13,954</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,856</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,833</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">187</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">661</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Exchange gain (loss), net</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">6,247</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(4,141</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(28,189</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Profit from associated companies</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">845</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">53</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">311</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,494</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">172</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">Profit before taxes</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">32,314</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13,968</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">22,089</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">131</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">46</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Taxes</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(21,026</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(17,601</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(7,674</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">19</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">174</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">Net Profit / (Loss) after taxes</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">11,288</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(3,633</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,415</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-22</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Minority interest</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,813</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">4,737</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">364</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-62</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">398</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">Net Profit for the period from continuing</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=left>&nbsp;

        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left> <B><FONT size=2 BASEFACE="serif" face="serif">operations</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">13,101</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,104</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,779</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,087</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-11</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
 &nbsp;<FONT size=2 BASEFACE="serif" face="serif">&nbsp;Result from discontinued operations</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,896</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">(78</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">)</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">432</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">339</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="12%">
<HR noshade size=1>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=28% align=left>
<B><FONT size=2 BASEFACE="serif" face="serif">Net Profit for the period</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">14,997</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,026</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">15,211</FONT>
        </TD>
        <TD GUTTER width=2% align=left>&nbsp;

        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">1,362</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
        <TD width=12% align=right>
<FONT size=2 BASEFACE="serif" face="serif">-1</FONT>
        </TD>
        <TD GUTTER width=2% align=left>
<FONT size=2 BASEFACE="serif" face="serif">%</FONT>
        </TD>
</TR>
<TR>
        <TD width="28%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="12%">
      <HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="12%">
<HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="12%">
<HR noshade size=2>
        </TD>
        <TD width="2%" GUTTER>
<HR noshade size=2>
        </TD>
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<FONT size=2 BASEFACE="serif" face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;, IAS 1, revised, &#147;Presentation of Financial Statements&#148; and change in
accounting policy for connection fees and costs</FONT></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
