New GSM Network for Iran

Millicom has announced that the Rafsanjan Industrial Complex ("RIC") has launched GSM services in greater Tehran. Millicom entered into an agreement with RIC in 2004 to manage a network for two million prepaid customers, to be owned by RIC under a build, operate and transfer contract between RIC and Telecommunications Company of Iran ("TCI").

Millicom is to be paid a share of the revenues generated by the network and has an option to acquire 47% of the company that will operate the network.

Marc Beuls, President and CEO of Millicom International Cellular commented: "We are delighted to be managing the RIC network that today started providing GSM services in Iran, a country with mobile penetration of less than 5 per cent and a huge pent-up demand for mobile services."

Millicom International Cellular is a mobile telecommunications operator with cellular operations in Asia, Latin America and Africa. It currently has a total of 17 cellular operations and licenses in 16 countries."

Posted to the site on 26th May 2005