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

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: 1 st to bill calls per second in Brazil 1 st to launch a voice portal in its area 1 st to launch hybrid plan in Brazil 2001:1 st to commercialize services using LBS technology in LA 1 st to launch national roaming for prepaid in its area 2000: 1 st to place a WAP call on a TDMA network in LA 1 st to segment prepaid plans in Brazil 1 st to sell prepaid credits virtually in Brazil 1999:1 st to offer a single tariff for intra concession calls in Brazil 1 st 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. Market Share (3Q03) Source: Company’s estimates and Banco Santander. Area 8 Area 4 Brazil

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

11. 8 12 28 38 25 51 1.8% 2.9% 16.1% 10.3% 7.2% 11.5% 19981999200020012002LTM* Bad Debt% of net service revenues Service Revenues and Bad Debt (R$ millions) CAGR (1998:LTM) of 13% CAGR (1998:LTM) of –27% Service Revenues Bad Debt * LTM: Last twelve months up to September 2003. (BR GAAP)

12. EBITDA and Net Result (R$ millions) Change in pattern EBITDA Net Result 102 94 103 135 145 148 33.0% 29.8% 34.4% 43.0% 33.4% 33.6% 19981999200020012002LTM* EBITDAEBITDA Margin CAGR (1998:LTM) of 7% * LTM: Last twelve months up to September 2003. (BR GAAP)

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

14. Summary (1998-2003) Client Base (R$ millions) Service Revenues EBITDA Net Result Net Debt Free Cash Flow 102 94 103 135 145 148 33.0% 29.8% 34.4% 43.0% 33.4% 33.6% 19981999200020012002LTM* EBITDAEBITDA Margin CAGR of 35% CAGR of 13%CAGR of 7% Improving trends on net results Reducing net debtCAGR of 19% * YTD and LTM (last twelve months) up to September 2003.

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

18. Service Revenues and Bad Debt (R$ millions) CAGR (1998:LTM) of 17% CAGR (1998:LTM) of –32% Service Revenues Bad Debt * LTM: Last twelve months up to September 2003. 28 22 105 22 18 15 3.6% 5.0% 23.9% 2.1%1.6% 19981999200020012002LTM* Bad Debt% of net service revenues (BR GAAP)

19. EBITDA and Net Income (R$ millions) CAGR (1998:LTM) of 77% EBITDA Net Income CAGR (1998:LTM) of 34% * LTM: Last twelve months up to September 2003. 105 171 245 394 454 370 46.6% 40.3% 38.6% 23.8% 45.2% 47.4% 19981999200020012002LTM* EBITDAEBITDA Margin (BR GAAP)

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

21. Summary (1998-2003) Client Base (R$ millions) Service Revenues EBITDA Net Income Net Debt Free Cash Flow CAGR of 37% CAGR of 17%CAGR of 34% CAGR of 77% Negative net debtCAGR of 78% * YTD and LTM (last twelve months) up to September 2003. YTD* PostpaidPrepaid 2,170 1,670 1,923 448 560 719 746 657 680 217 522 924 1,266 1,490 199819992000200120022003- 776 1,241 448

22. Contact Information Additional information can be found at: www.telemigholding.com.br www.telenorteholding.com.br 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

23. 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. Disclaimer