João Cox CEO – Telemig Celular & Amazônia Celular

1. Five Years After Privatization Telecommunications Panel João Cox CEO – Telemig Celular & Amazônia Celular CFO – Telemig Celular Part. & Tele Norte Celular Part.

2. Agenda • Our Vision • Our Beliefs • Milestones • Awards/Recognition in 2003 • Market Share • Our Results

3. Our Vision • To have superior brand recognition • To attract investor interest on a global scale • To have employees that feel rewarded and proud

4. Our Beliefs • We sell entertainment, content, relationship and communications • Our business is not restricted to our client base • Relationship is far more important than acquisition • Creativity, competence and focus can overcome scale • Entrepreneurship and people make the difference • Social responsibility is imperative • Profitability comes with management competence

5. Milestones • 2003: Launch of the most comprehensive relationship program • 2002: 1st to bill calls per second in Brazil • 1st to launch a voice portal in its area • 1st to launch hybrid plan in Brazil • 2001: 1st to commercialize services using LBS technology in LA • 1st to launch national roaming for prepaid in its area • 2000: 1st to place a WAP call on a TDMA network in LA • 1st to segment prepaid plans in Brazil • 1st to sell prepaid credits virtually in Brazil • 1999: 1st to offer a single tariff for intra concession calls in Brazil • 1st to launch SMS in its area

6. Awards/Recognition in 2003 • “Best Customer Care Center” in Brazil – Company of the Year (TCN) • “Best Customer Care Center” in the Wireless Sector in Brazil (TMB/TCN) • - Consumidor Moderno Magazine • Top 100 Companies to Work for in Brazil (TMB) • Top 40 Companies for Women to Work for in Brazil (TMB/TCN) • - Exame Magazine • Short-listed as one of the three best companies in Brazil for the categories of “Customer Respect” and “Grand Prix for Social Value” (TMB) • - Valor Econômico • #3 in the “Corporate Governance Ranking” for Brazilian companies (TMB) • - Euromoney Magazine • Short-listed for two categories for the Investor Relations Magazine Latin America Award - “Best Overall Investor Relations” and “Best IRO” - Small Cap (TMB) • Investor Relations Magazine • “Entrepreneurial Leader for the Telecommunications Sector” for the Forum of Entrepreneurial Leadership (TMB,TCN) • - Gazeta Mercantil

7. Brazil Area 8 Area 4 Market Share (3Q03) Source: Company’s estimates and Banco Santander.

8. Financial & Operational Results F I V E Y E A R S A F T E R P R I V A T I Z A T I O N

9. 1998-2003: Highlights • Good customer base growth rates • Solid operational indicators • Reduction of bad debt • Good cash generation • Reduction of net debt • Strengthening of Amazônia Celular´s brand

10. 749k net additions Client Base (clients000s) 219 * YTD information up to September 2003. • 343% increase in the client base since 1998 • CAGR (1998:2003-YTD) of 35%

11. Service Revenues and Bad Debt (R$ millions) (BR GAAP) Service Revenues Bad Debt 16.1% 11.5% 10.3% 7.2% 51 2.9% 38 1.8% 28 25 * LTM: Last twelve months up to September 2003. 12 8 1998 1999 2000 2001 2002 LTM* Bad Debt % of net service revenues • CAGR (1998:LTM) of –27% • CAGR (1998:LTM) of 13%

12. EBITDA and Net Result (R$ millions) (BR GAAP) EBITDA Net Result 43.0% 34.4% 33.6% 33.4% 33.0% 29.8% 148 145 135 102 103 94 * LTM: Last twelve months up to September 2003. 1998 1999 2000 2001 2002 LTM* EBITDA EBITDA Margin • Change in pattern • CAGR (1998:LTM) of 7%

13. Net Debt and FCF (R$ millions) (BR GAAP) Net Debt Free Cash Flow * YTD and LTM (last twelve months) up to September 2003. • Positive cash generation • Reducing net debt

14. CAGR of 13% CAGR of 7% CAGR of 35% Reducing net debt CAGR of 19% Improving trends on net results Summary (1998-2003) (R$ millions) EBITDA Client Base Service Revenues 43.0% 34.4% 33.6% 33.4% 33.0% 29.8% 148 145 135 102 103 94 1998 1999 2000 2001 2002 LTM* EBITDA EBITDA Margin Free Cash Flow Net Debt * YTD and LTM (last twelve months) up to September 2003. Net Result

15. Financial & Operational Results F I V E Y E A R S A F T E R P R I V A T I Z A T I O N

16. 1998-2003: Highlights • Strong customer base growth rates • Solid operational indicators • Reduction of bad debt • Strong cash generation • Negative net debt • Consolidation of Telemig Celular´s market leadership position

17. 1,722k net additions Client Base (clients000s) 217 560 448 * YTD information up to September 2003. • 384% increase in the client base since 1998 • CAGR (1998:2003-YTD) of 37%

18. Service Revenues and Bad Debt (R$ millions) (BR GAAP) Service Revenues Bad Debt 23.9% 105 5.0% 3.6% 3.6% 2.1% 1.6% 28 22 22 * LTM: Last twelve months up to September 2003. 15 18 1998 1999 2000 2001 2002 LTM* Bad Debt % of net service revenues • CAGR (1998:LTM) of –32% • CAGR (1998:LTM) of 17%

19. EBITDA and Net Income (R$ millions) (BR GAAP) EBITDA Net Income 47.4% 46.6% 45.2% 40.3% 38.6% 454 394 23.8% 370 245 * LTM: Last twelve months up to September 2003. 171 105 1998 1999 2000 2001 2002 LTM* EBITDA EBITDA Margin • CAGR (1998:LTM) of 77% • CAGR (1998:LTM) of 34%

20. Net Debt and FCF (R$ millions) (BR GAAP) Net Debt Free Cash Flow * YTD and LTM (last twelve months) up to September 2003. • Strong positive cash generation • Negative net debt

21. CAGR of 17% CAGR of 34% CAGR of 37% 47.4% 46.6% 45.2% 40.3% 38.6% 2,170 1,923 1,670 454 1,490 1,241 394 23.8% 1,266 370 924 522 776 245 448 217 171 105 746 719 680 657 560 448 1998 1999 2000 2001 2002 LTM* 1998 1999 2000 2001 2002 2003- YTD* EBITDA EBITDA Margin Postpaid Prepaid Negative net debt CAGR of 78% CAGR of 77% Summary (1998-2003) (R$ millions) Service Revenues EBITDA Client Base Free Cash Flow Net Debt * YTD and LTM (last twelve months) up to September 2003. Net Income

22. Contact Information João Cox CEO – Telemig Celular & Amazônia Celular CFO – Telemig Celular Part. & Tele Norte Celular Part. E-mail: Jcox@telemigcelular.com.br Ricardo Perpetuo CFO – Telemig Celular & Amazônia Celular E-mail: Ricardo.perpetuo@telemigcelular.com.br Leonardo Dias Investor Relations Manager E-mail: Ldias@telepart.com.br Phone: 55-61-429-5673 Fax: 55-61-429-5626 Additional information can be found at: www.telemigholding.com.br www.telenorteholding.com.br

23. Disclaimer This presentation contains forward-looking statements. Such statements are not statements of historical fact, and reflect the beliefs and expectations of the Company's management. The words "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "predicts," "projects" and "targets" and similar words are intended to identify these statements, which necessarily involve known and unknown risks and uncertainties. Known risks and uncertainties include those resulting from the short history of the Company's operations as an independent, private-sector, entity and the introduction of competition to the Brazilian telecommunications sector, as well as those relating to the cost and availability of financing, the performance of the Brazilian economy generally, the levels of exchange rates between Brazilian and foreign currencies and the Federal Government's telecommunications policy. Accordingly, the actual results of operations of the Company may be different from the Company's current expectations, and the reader should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments.