Cingular Wireless Posts Solid First-Quarter Results:

-- Net subscriber additions of more than 1.4 million

-- 50.4 million subscribers at quarter's end

-- Gross subscriber additions of 4.8 million

-- Monthly subscriber churn of 2.2 percent overall and 1.9 percent in postpaid

-- 210 basis-point sequential improvement in normalized OIBDA margin

-- Continued progress in GSM conversion, with 84 percent of minutes now on Cingular's GSM network

-- Integration initiatives continue on schedule

ATLANTA, April 20 /PRNewswire/ -- Cingular Wireless, the nation's largest wireless provider, today posted solid first-quarter results driven by continued strong subscriber growth, improved churn and sequential margins, and strength in data and enterprise services.

Cingular delivered net subscriber additions of more than 1.4 million and ended the first quarter with 50.4 million subscribers.

Gross additions were nearly 4.8 million while churn was 2.2 percent -- a sequential improvement of 20 basis points. In addition, OIBDA margin -- normalized to exclude direct merger integration costs -- increased to 25.5 percent, which is a sequential improvement of 210 basis points. ("Pro forma" results reflect the acquisition of AT&T Wireless, plus related acquisitions and dispositions, as if they had occurred on January 1, 2003.)


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Monty Solomon
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