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AMÉRICA MÓVIL’S FIRST QUARTER OF 2008
FINANCIAL AND OPERATING REPORT

Mexico City, April 24, 2008 - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX] [NASDAQ: AMOV] [LATIBEX: XAMXL], announced today its financial and operating results for the first quarter of 2008.

• In the first quarter of 2008 América Móvil added 5.7 million subscribers bringing to 159.2 million our wireless subscriber base. Our Mexican operations gained 1.5 million subscribers in the quarter, followed by Brazil, with 953 thousand and Argentina, Peru and Colombia with 587 thousand, 555 thousand and 521 thousand, respectively.

• The company had 3.9 million landlines in Central America and the Caribbean at the end of the quarter, for a total of 163 million lines in the Americas.

• First quarter revenues totaled 81.3 billion pesos. They were up 20.6% year-on-year. Service revenues rose 20.8% annually. Noteworthy was service revenue growth in Argentina and Brazil, 33.2% and 22.0% year-on-year, respectively.

• Our EBITDA margin came in at 41.7% . At 33.9 billion pesos, EBITDA was 17.8% higher year-on-year. Argentina saw its EBITDA margin rise 6.1 percentage points, while Brazil, Ecuador, the Caribbean and Tracfone showed improvements of around two percentage points.

• Operating profits reached 23.4 billion pesos. They were up 11.3% over the previous year, and represented almost 30% of our revenues. Net profits of 13.8 billion pesos were equivalent to 40 peso cents per share and 74 dollar cents per ADR.

• Our net debt was down 5.3 billion pesos in the quarter. Our strong cash flow allowed us to finance capital expenditures of 4.8 billion pesos and share buybacks of 6.3 billion pesos.

• We launched our new UMTS/HSDPA services during the quarter in Mexico, Colombia, Peru, El Salvador, Honduras and Nicaragua. We are the first adopter of the new technology in most of the countries in which we operate. We are now offering 3G services in 14 countries in Latin America and the Caribbean.

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América Móvil - Fundamentals

Mex$

		1Q08		1Q07		Var. %		Jan-Mar'08		Jan-Mar'07		Var. %
EPS (Mex$)*		0.40		0.41		-4.2%		0.40		0.41		-4.2%
Earning per ADR (US$)**		0.74		0.75		-0.6%		0.74		0.75		-0.6%
Net Income (millions of Mex$ )		13,776		14,636		-5.9%		13,776		14,636		-5.9%
EBITDA (millions of Mex$)		33,943		28,939		17.3%		33,943		28,939		17.3%
EBIT (millions of Mex$)		23,766		21,444		10.8%		23,766		21,444		10.8%
Shares Outstanding (billion)***		34.79		35.41		-1.7%		34.79		35.41		-1.7%
ADRs Equivalent (millions)***		643		757		-15.1%		643		757		-15.1%

* Net Income / Total Shares Outstanding
** 20 shares per ADR

Relevant Events

Beginning in January, and pursuant to changes in the guidelines that constitute Mexican GAAP, América Móvil will cease to use accounting figures that correct for inflation and will instead present its accounting in nominal terms. The new methodology affects only marginally our operating results, but has more of an impact on financing costs.

In the same month the interconnection rates from fixed-to-mobile and mobile-to-mobile were reduced by 11% in Mexico and 50% in Colombia.

On March 11th, América Móvil announced that its Board of Directors had decided to submit for the approval of the General Ordinary Shareholders’ Meeting to be held on April 29th, a proposal for the payment of a cash dividend in the amount of $0.26 (twenty-six peso cents) per share in one exhibition. If approved, América Móvil would pay in July an aggregate amount of approximately nine billion pesos. It also proposed to increase by 40 billion Mexican pesos the amount destined to the repurchase of shares.

We have continued rolling out our UMTS networks in several countries in Latin America. In February, we launched 3G services in Mexico, Colombia, Peru, Nicaragua, Honduras and El Salvador, bringing to 14 the number of countries where we were operating 3G services at the end of March. Over time, 3G will allow us to provide new services and shall result in new revenue streams.

In March, our operations in Argentina, Paraguay and Uruguay (formerly CTI Móvil) were re-branded to Claro. Today, 12 of our subsidiaries, including all those in Central America and the Caribbean, share the same brand.

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América Móvil’s Subsidiaries & Affiliates as of March 2007

Country		Company		Business		Equity  Participation		Consolidation Method
Subsidiaries
- Mexico		Telcel		wireless		100.0%		Global Consolidation Method
- Argentina		Claro		wireless		100.0%		Global Consolidation Method
- Brazil		Claro		wireless		100.0%		Global Consolidation Method
- Chile		Claro		wireless		100.0%		Global Consolidation Method
- Colombia		Comcel		wireless		99.4%		Global Consolidation Method
- Dominicana		Claro		wireless, wireline		100.0%		Global Consolidation Method
- Ecuador		Conecel		wireless		100.0%		Global Consolidation Method
- El Salvador		Claro		wireless, wireline		95.8%		Global Consolidation Method
- Guatemala		Claro		wireless, wireline		99.2%		Global Consolidation Method
- Honduras		Claro		wireless		100.0%		Global Consolidation Method
- Jamaica		Mi Phone		wireless		100.0%		Global Consolidation Method
- Nicaragua		Claro		wireless, wireline		99.3%		Global Consolidation Method
- Paraguay		Claro		wireless		100.0%		Global Consolidation Method
- Peru		Claro		wireless		100.0%		Global Consolidation Method
- Puerto Rico		Claro		wireless, wireline		100.0%		Global Consolidation Method
- Uruguay		Claro		wireless		100.0%		Global Consolidation Method
- USA		Tracfone		wireless		98.2%		Global Consolidation Method
Affiliate
- Mexico		Televista		other		45.0%		Equity Method

Subscribers

América Móvil’s subscriber base reached 159.2 million wireless subscribers at the end of March, after net subscriber gains of 5.7 million wireless subscribers in the first three months of 2008. Together with our 3.9 million landlines in Central America and the Caribbean, we had a total of 163 million lines at the end of March.

In Mexico we added 1.5 million subscribers to reach 51.5 million subscribers in March, an annual increase of 14.7% . Net additions in Brazil came in at 953 thousand, (31.1% more than in the same period of 2007), with Claro’s subscriber base rising to 31.2 million at the end of the period, 26.7% more than a year before.

Our operations in Argentina, Paraguay and Uruguay gained 649 thousand clients in the quarter, taking their combined subscriber base to 15.3 million. This represents a sequential increase of 4.4% and an annual increase of 28.6% . In Colombia, our net subscriber additions—521 thousand—were 52.7% higher than those obtained the previous year. Our subscriber base topped 23.2 million. It was up 3.6% on the quarter and 15.4% annually.

In Ecuador, we added 258 thousand subscribers in the quarter to finish March with 7.2 million subscribers, 20.5% more than a year before. Peru, which continues to outpace the rest of our operations in terms of subscriber growth, saw its subscriber base climb to over 6 million—an annual growth rate of 55.7% —on the back of 555 thousand net additions in the quarter. As regards to our operation in Chile, its subscriber base rose 6.0% in the quarter, to 2.7 million.

In Central America our subscriber base reached 8.6 million, having added 413 thousand new clients in the first quarter. Together with 2.2 million fixed lines, our operations in Central America have a combined total of 10.8 million lines.

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In the Caribbean—Dominicana, Puerto Rico and Jamaica—we gained 183 thousand subscribers, which took our subscriber base in the area to 3.7 million. In addition to the latter, those operations had 1.6 million fixed lines.

In the United States, Tracfone added 381 thousand subscribers in the period—which exceeded by 14.6% those obtained in 2007—ending the quarter just shy of ten million subscribers, up 4.2% sequentially and 19.2% annually.

Subscribers as of March 2008

Thousands
		Total(1)
Country		Mar'08		Dec'07		Var.%		Mar'07		Var.%
Mexico		51,540		50,011		3.1%		44,946		14.7%
Brazil		31,182		30,228		3.2%		24,608		26.7%
Chile		2,703		2,672		1.2%		2,550		6.0%
Argentina, Paraguay and Uruguay		15,267		14,618		4.4%		11,874		28.6%
Colombia		23,129		22,335		3.6%		20,042		15.4%
Ecuador		7,194		6,936		3.7%		5,969		20.5%
Peru		6,010		5,455		10.2%		3,861		55.7%
Central America		8,570		8,157		5.1%		6,318		35.6%
Caribe		3,679		3,496		5.2%		2,831		30.0%
USA		9,895		9,514		4.0%		8,229		20.3%
Total Wireless		159,168		153,422		3.7%		131,227		21.3%
Central America		2,212		2,197		0.66%		2,178		1.6%
Caribe		1,647		1,669		-1.3%		1,731		-4.8%
Total Fixed		3,859		3,866		-0.2%		3,909		-1.3%
Total Lines		163,027		157,287		3.6%		135,136		20.6%

(1) Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated. Total wireless historical data does not include recent acquisitions.

América Móvil

Our operations initiated 2008 very much along the lines seen throughout most of 2007, with a marked tendency for airtime prices to drop practically across the board but with traffic responding strongly to the lower prices. On the cost side the main development has been the introduction of 3G services in most of our operations (some of them late in 2007).

Consolidated revenues totaled 81.3 billion pesos in the quarter, expanding by 20.6% year-on-year, with service revenues growing at the same pace in spite of the reduction in interconnection rates that took effect on January 1st in Mexico and Colombia (11% and 50%, respectively). Equipment revenues fell by 29.3% quarter-over-quarter, which is explained basically by seasonal factors, but service revenues climbed 1.4% .

In comparing the first quarter revenues to those obtained a yerar before, it is important to consider that whereas this year the Easter holidays took place in the third an fourth weeks of March, in 2007 these festivities were celebrated in April. (In Mexico, an additional holiday took place in the first week leading to a more patent impact on revenues this year than has normally been the case.)

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Service revenue growth has been particularly strong in Argentina and Brazil, at annual rates of 32.8% and 22.0%, respectively. Peru and Ecuador also saw their service revenues climb at a good pace. Altogether, our South American operations have increased their share of consolidated service revenues to 44.2% from 41.3% a year ago. The contribution of our combined international operations to our service revenues has risen to 62.4% .

At 33.9 billion pesos, EBITDA was up 17.8% relative to the same period a year before. Our EBITDA margin came in at 41.7%, holding firm in spite of the marketing expenses associated with the launch and promotion of our new 3G services in nine countries and of the costs of having the new networks in operation at a time when they are just beginning to be utilized. As with service revenues, the consolidated EBITDA share of our South American subsidiaries has gone up, from 31.3% a year ago to 35.3% . Argentina led the way in terms of margin improvement—6.1 percentage points in twelve months—with Brazil, Ecuador, the Caribbean and Tracfone, in the U.S., picking up around two percentage points. Just over half of our EBITDA was generated by our international operations.

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America Movil's Income Statement

Millions of Mex$

		1Q08		1Q07		Var.%
Service Revenues		71,101		58,873		20.8%
Equipment Revenues		10,228		8,577		19.3%
Total Revenues		81,329		67,450		20.6%
Cost of Service		16,733		13,316		25.7%
Cost of Equipment		16,585		14,121		17.4%
Selling, General & Administrative Expenses		14,069		11,193		25.7%
Total Costs and Expenses		47,386		38,630		22.7%
EBITDA		33,943		28,820		17.8%
% of Total Revenues		41.7%		42.7%
Depreciation & Amortization		10,176		7,463		36.4%
EBIT		23,766		21,358		11.3%
% of Total Revenues		29.2%		31.7%
Net Interest Expense		1,869		1,305		43.3%
Other Financial Expenses		1,735		333		n.m.
Foreign Exchange Loss		-357		-791		54.8%
Comprehensive Financing Cost (Income)		3,247		847		283.6%
Other Income and Expenses		402		206		95.0%
Income & Deferred Taxes		6,320		5,698		10.9%
Net Income before Minority Interest and Equity		13,797		14,607		-5.5%
Participation in Results of Affiliates
minus
Equity Participation in Results of Affiliates		16		16		2.8%
Minority Interest		-37		-52		29.1%
Net Income		13,776		14,571		-5.5%

*n.m. = not meaningful

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Balance Sheet (in accordance with Mexican GAAP)*

América Móvil Consolidated

Millions of Mex$

		Mar'08		Dec'07		Var.%				Mar'08		Dec'07		Var.%
Current Assets								Current Liabilities
Cash & Securities		17,862		12,022		48.6%		Short Term Debt**		32,513		19,953		62.9%
Accounts Receivable		42,032		44,756		-6.1%		Accounts Payable		66,560		71,794		-7.3%
Other Current Assets		8,099		4,488		80.4%		Other Current Liabilities		22,566		23,214		-2.8%
Inventories		22,946		21,060		9.0%				121,640		114,960		5.8%
		90,939		82,327		10.5%
Long-Term Assets
Plant & Equipment		165,745		167,084		-0.8%
Investments in Affiliates		615		590		4.3%		Long-Term Liabilities
								Long Term Debt		72,739		84,799		-14.2%
Deferred Assets								Other Liabilities		22,527		22,504		0.1%
Goodwill (Net)		44,775		44,725		0.1%				95,266		107,303		-11.2%
Brands, Patents & Licenses		40,737		42,165		-3.4%
Deferred Assets		13,473		12,231		10.2%		Shareholder's Equity		139,378		126,858		9.9%
Total Assets		356,284		349,121		2.1%		Total Liabilities and Equity		356,284		349,121		2.1%
* This presentation conforms with that of América Móvil's audited financial statements  ** Includes current portion of Long Term Debt

Depreciation and amortization charges came down in relation to revenues from 13.5% in the previous quarter to 12.5% in the first three months of this year. The ratio is still higher than a year ago (it was 11.0% then) but should continue to trend down in the months ahead.

Our operating profits in the quarter totaled 23.8 billion pesos, an amount that represented just under 30% of revenues. They were up 11.3% year-on-year. Financing costs, 3.2 billion pesos, were up significantly from a year before as a consequence of a bigger net debt and lower foreign exchange gains. In the end we generated a net profit of 13.8 billion pesos, which was equivalent to 16.9% of revenues. Profits per share came in at 40 peso cents (or 74 dollar cents per ADR).

We were able to reduce our net debt in the quarter by 5.3 billion pesos, to 87.4 billion (0.67 times LTM EBITDA), aided by a strong cash flow that allowed us to cover capital expenditures in the amount of 4.8 billion pesos and share buybacks worth 6.3 billion pesos. Our working capital increased during the period as we took on new inventories and liquidated accounts payable associated with our purchases of handsets late last year and with capital expenditures that were commissioned, for the most part, in 2007.

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Financial Debt of América Móvil*

Millions of U.S. Dollars

		Mar-08		Dec-07
Peso Denominated Debt		3,794		2,962
Bonds and other securities		2,678		2,407
Banks and others		1,116		555
U.S. Dollar - denominated debt		4,743		5,518
Bonds and other securities		4,293		4,293
Banks and others		450		1,225
Debt denominated in other currencies		1,303		1,160
Bonds and other securities		540		488
Banks and others		763		672
Total Debt		9,840		9,640
Short term debt and current portion of long-term debt		3,040		1,836
Long-term debt		6,800		7,804

* This table does not include the effect of forwards and derivatives used to hedge the foreign exchange exposure

Mexico

In the first quarter Telcel added 1.5 million clients bringing to 51.5 million our subscriber base at the end of March. It was up 14.7% year-on-year and 3.1% relative to the previous quarter. Our postpaid subscriber base grew 16.0% year-on-year, outpacing prepaid growth for the 13th consecutive quarter.

Revenues reached 32.2 billion Mexican pesos in the period, up 10.6% from the same period a year ago. As compared to the previous quarter, service revenues were slightly higher, but equipment revenues declined sequentially because of seasonal effects. Our airtime prices for voice have fallen year-on-year—at eight dollar cents they are amongst the lowest in Latin America and the second lowest within the OECD—but traffic per subscriber soared by 32.3% . Our blended ARPU has come down, mostly as a consequence of subscriber growth and the lag that typically exists between subscriber and revenue growth. As of January 1st, mobile termination rates declined 11% compared to the previous year.

EBITDA came in at 16.8 billion pesos in the first three months of the year, 6.6% above 2007 figures. Telcel’s EBITDA margin stood at 52.1% in the period and was somewhat held back by the costs associated with launching and operating its new UMTS/HSDPA network, which was introduced in February. By the end of the quarter we had coverage in 16 of the main cities in the country, which comprise 47 million pops. Telcel is the only carrier in Mexico offering UMTS/HSDPA services today, it being the first adopter of new technologies in Mexico. Our UMTS network with its high-speed data transmission will enable our clients to access broadband services on the wireless platform. Throughout the year we will keep on expanding our 3G coverage in Mexico.

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INCOME STATEMENT

Mexico

Millions of Mx$

		1Q08		1Q07		Var.%
Revenues		32,182		29,098		10.6%
EBITDA		16,770		15,735		6.6%
%		52.1%		54.1%
EBIT		14,711		13,780		6.8%
%		45.7%		47.4%

Mexico´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		51,540		44,946		14.7%
Postpaid		3,749		3,231		16.0%
Prepaid		47,791		41,715		14.6%
MOU		171		129		32.3%
ARPU (Mex$)		174		185		-5.9%
Churn (%)		3.4%		3.3%		0.1

Argentina, Paraguay & Uruguay

In a setting of great growth and dynamic changes, our operations in Argentina, Paraguay and Uruguay were re-branded as Claro. Our new brand means greater integration and it shall bring about better services and more advanced applications for our subscribers in those countries.

Altogether, these operations added 587 thousand new clients bringing to 15.3 million our combined subscriber base at the end of the first quarter, up 28.6% annually and 4.4% on the quarter. At a pace of 48.0% year-on-year, our postpaid subscriber base grew even more rapidly.

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We generated revenues of 1.7 billion Argentinean pesos in the quarter, which were 30.3% greater than those of the previous year. Service revenues increased at a somewhat greater clip (33.2%) . Due to seasonal factors, equipment revenues were down sequentially but service revenues showed an up-tick of 1.8% over the previous quarter. ARPU was up 1.1% as compared to a year before helped by greater data usage. Data-only ARPU increased by nearly 8% in the period.

EBITDA rose 58.4% year-on-year to 528 million Argentinean pesos. Our EBITDA margin came in at 31.6% of revenues, having expanded by 5.6 percentage points in one year.

We have experienced great acceptance of our 3G services in Argentina, Paraguay and Uruguay, especially amongst corporate clients and those who live in the suburban areas where wireline accesses are rather limited. By the end of March, 70 cities and towns in the region had UMTS /HSDPA services.

INCOME STATEMENT

Argentina, Paraguay & Uruguay

Millions of ARP$

		1Q08		1Q07		Var.%
Revenues		1,673		1,284		30.3%
EBITDA		528		333		58.4%
%		31.6%		26.0%
EBIT		408		237		71.9%
%		24.4%		18.5%

Argentina, Paraguay & Uruguay´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		15,267		11,874		28.6%
Postpaid		1,775		1,199		48.0%
Prepaid		13,492		10,675		26.4%
MOU		119		121		-1.7%
ARPU (ARG$)		32		31		1.1%
Churn (%)		2.3%		1.9%		0.3

Brazil

Claro’s subscriber base expanded 26.7% year-on-year to get to 31.2 million clients at the end of March. During the first quarter of the year, net additions for our operations in Brazil totaled 953 thousand. They were 31.1% higher than the ones registered last year. As our postpaid subscriber base continues to outpace the prepaid one, its relative share of the overall subscriber base has risen to nearly 20%.

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Revenues increased by 22.8% year-on-year to 2.6 billion reais, a similar pace than that of service revenues (22.0%), with data revenues growing at a 49% rate in the period. Blended ARPUs were down 3.6% in the period mostly because of the fast tempo of postpaid subscriber growth. Prepaid ARPU was actually up 3.6% in the period on the back of additional promotions that boosted prepaid MOUs 34.8% .

Greater scale and good cost control have allowed us to continue to increase our EBITDA margin in spite of the rapid pace of subscriber growth. In the first quarter of the year we obtained 788 million reais of EBITDA, 33.5% more than in the same period of last year. Our EBITDA margin stood at 29.8%, 2.4 percentage points higher than that of 2007.

By the end of March, we had UMTS/HSDPA coverage in 40 cities and towns in Brazil, where nearly 20% of the population lives.

INCOME STATEMENT

Brazil Consolidated

Millions of R$

		1Q08		1Q07		Var.%
Revenues		2,645		2,155		22.8%
EBITDA		788		590		33.5%
%		29.8%		27.4%
EBIT		252		168		49.8%
%		9.5%		7.8%

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Brazil´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		31,182		24,608		26.7%
Postpaid		5,992		4,298		39.4%
Prepaid		25,190		20,309		24.0%
MOU		81		71		14.3%
ARPU (R$)		26		27		-3.6%
Churn (%)		2.8%		2.8%		(0.0)

Chile

Our Chilean subscriber base finished March with 2.7 million wireless subscribers after adding 31 thousand clients in the first three months of the year. Claro’s subscriber base was up 6.0% as compared to the same period of the prior year. Having cleansed our subscriber base last year, churn figures were brought down 1.4 percentage points sequentially.

Revenues totaled 61.8 billion Chilean pesos, 7.3% below the same period of last year. Service revenues were flat over the quarter, but the contraction of equipment revenues pushed total revenues down by 6.9% sequentially, reflecting seasonal factors. We obtained 1.4 billion Chilean pesos of EBITDA, which is 2.3% higher than that of the same period of 2007.

INCOME STATEMENT

Chile

Millions of Ch$

		1Q08		1Q07		Var.%
Revenues		61,803		66,702		-7.3%
EBITDA		1,444		1,410		2.4%
%		2.3%		2.1%
EBIT		-7,615		-5,783		-31.7%
%		-12.3%		-8.7%

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Chile´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		2,703		2,550		6.0%
Postpaid		375		557		-32.7%
Prepaid		2,329		1,993		16.8%
MOU		121		143		-15.5%
ARPU (Ch$)		6,910		7,931		-12.9%
Churn (%)		3.5%		2.4%		1.1

Colombia

In the first quarter of the year Comcel added 795 thousand new clients—52.7% more than a year before—and ended March with 23.1 million subscribers. Its subscriber base expanded 15.4% annually and 3.6% quarter-over-quarter.

First quarter revenues of 1.2 trillion Colombian pesos were slightly below last year’s figure, with service revenues remaining practically flat. To some extent, this is a reflection of the sharp reduction (50%) of mobile termination rates that took place in January, which ultimately translated into a reduction of 2.6% of its interconnection revenues. Comcel introduced commercial promotions that have brought down the average price per minute of voice by 30.7% year-on-year, to the equivalent of six dollar cents. The resulting increase in traffic—MOUs rose by 23.5% in the period—has helped compensate for the most part the impact on revenues brought about by the reduction in prices. We shall continue to see increases in traffic driven by good price-elasticity.

EBITDA for the quarter came in at 645 billion Colombian pesos. The margin remained unchanged relative to a year before at 48.3%, reflecting the effect of stronger subscriber growth, significant reductions in airtime and interconnection prices and the introduction of our 3G services.

As of February 1st, we began offering 3G services in Colombia. We took the lead in the introduction of UMTS and are today the only carrier offering access to cutting-edge applications on the wireless platform. The new 3G services are now available in the main 8 cities in Colombia, which today account for nearly 40% of the population.

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INCOME STATEMENT

Colombia

Billions of COP$

		1Q08		1Q07		Var.%
Revenues		1,335		1,349		-1.0%
EBITDA		645		651		-1.0%
%		48.3%		48.3%
EBIT		415		500		-17.1%
%		31.1%		37.1%

Colombia´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		23,129		20,042		15.4%
Postpaid		3,352		2,993		12.0%
Prepaid		19,778		17,049		16.0%
MOU		144		117		23.5%
ARPU (COP$)		17,414		20,096		-13.3%
Churn (%)		2.7%		2.3%		0.4

Ecuador

After adding 258 thousand new clients in the period, our subscriber base in Ecuador reached 7.2 million at the end of March, having risen 20.5% relative to a year before and 3.7% over the previous quarter.

First quarter revenues, 238 million dollars, were 13.2% higher than a year before, with service revenues expanding at a faster pace: 16.3% . Over the previous quarter, total revenue growth was 3.1% . EBITDA for the period totaled 106 million dollars, up 18.8% year-on-year and 17.0% sequentially. The EBITDA margin reached 44.2% of revenues, climbing two percentage points in one year.

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INCOME STATEMENT

Ecuador

Millions of Dollars

		1Q08		1Q07		Var.%
Revenues		238		211		13.2%
EBITDA		106		89		18.8%
%		44.2%		42.1%
EBIT		85		67		27.3%
%		35.5%		31.6%

Ecuador´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		7,194		5,969		20.5%
Postpaid		805		639		26.1%
Prepaid		6,389		5,331		19.8%
MOU		74		58		27.9%
ARPU (US$)		9		9		-4.3%
Churn (%)		2.7%		3.4%		(0.7)

Peru

Our subscriber base in Peru rose 55.7% year-on-year and 10.2% over the quarter, to over six million clients, after 555 thousand net additions in the first three months of the year.

Revenues reached 482 million soles, up 18.9% year-on-year, with service revenues growing at 15.5% even in the face of pointed reductions in airtime prices, which plummeted 41.4% as compared to last year. Traffic has so far compensated only partially the impact of the price declines, as MOUs went up by 22.7% . We intend to push for usage growth, as average spending on mobile relative to GDP per capita is still low in Peru as compared to some of its neighbor countries.

EBITDA was down 3.5% relative to the same quarter of last year and came in at 130 million soles. Our EBITDA margin for the period, 27.0%, was below that observed a year ago derived of strong subscriber growth, especially on postpaid.

We took the lead, and began offering our 3G services in Peru. At the end of the quarter, we had coverage in Lima, Callao and the beach areas. Our services are accessible to over nine million people. The expansion of UMTS/HSDPA coverage will continue, and by the end of this year, the country´s six largest cities will have 3G services.

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INCOME STATEMENT

Peru

Millions of Soles

		1Q08		1Q07		Var.%
Revenues		482		405		18.9%
EBITDA		130		135		-3.5%
%		27.0%		33.2%
EBIT		80		86		-6.4%
%		16.7%		21.2%

Peru´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		6,010		3,861		55.7%
Postpaid		586		371		58.0%
Prepaid		5,424		3,490		55.4%
MOU		83		68		22.7%
ARPU (Sol)		23		31		-27.3%
Churn (%)		2.6%		2.0%		0.7

Central America

Our combined wireless subscriber base in Central America expanded by 35.6% year-on-year to 8.6 million clients after net additions of 413 thousand in the first quarter. Together with 2.2 million fixed lines, América Móvil had a total of 10.8 million lines in the region.

Altogether, our operations in Central America generated revenues of 366 million dollars, which were practically identical to those of the same quarter of 2007, reflecting continued migration from fixed lines to mobile accesses and important price reductions in airtime prices.

EBITDA totaled 179 million dollars and was equivalent to 48.8% of revenues, held back by the fast pace of subscriber growth in some markets and the loss of fixed line revenues in others.

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INCOME STATEMENT

Central America Consolidated

Millions of Dollars

		1Q08		1Q07		Var.%
Revenues		366		369		-0.8%
EBITDA		179		192		-6.8%
%		48.8%		51.9%
EBIT		110		126		-12.5%
%		30.1%		34.1%

Central America´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		8,570		6,318		35.6%
Postpaid		417		376		10.8%
Prepaid		8,153		5,942		37.2%
Fixed Lines (thousands)		2,212		2,178		1.6%
Total Lines (Wireless + Fixed, 000's)		10,781		8,496		26.9%
MOU		122		134		-9.4%
ARPU (US$)		7		9		-22.3%
Churn (%)		1.6%		0.9%		0.8

Caribbean

With net additions of 183 thousand that were 44.8% higher than those obtained in the same quarter of 2007, our wireless subscriber base in the islands reached 3.5 million at the close of March, 21.9% more than a year before and 5.4% higher than at the end of 2007. Along with 1.6 million fixed lines in Dominican Republic and Puerto Rico, we had a total of 5.1 million lines in the Caribbean.

First quarter revenues of 544 million dollars were practically flat, weighed down by fixed line losses in Puerto Rico that have arisen mostly due to weak economic activity in the island. In spite of this, EBITDA in the region was up 7.9% year-on-year to 255 million dollars. Our EBITDA margin, 41.3%, is up 3.1 percentage points in twelve months.

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INCOME STATEMENT

The Caribbean

Millions of Dollars

		1Q08		1Q07		Var.%
Revenues		544		546		-0.4%
EBITDA		225		208		7.9%
%		41.3%		38.2%
EBIT		138		117		17.7%
%		25.3%		21.4%

The Caribbean´s Operating Data *

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		3,450		2,831		21.9%
Postpaid		851		702		21.2%
Prepaid		2,599		2,129		22.1%
Fixed Lines (thousands)		1,647		1,731		-4.8%
Total Lines (Wireless + Fixed, 000's)		5,097		4,562		11.7%
MOU		291		313		-6.8%
ARPU (US$)		18		20		-10.6%
Churn (%)		4.0%		4.2%		(0.2)

* Does not includes Jamaica

United States

Tracfone added 381 thousand clients in the period—14.6% more than in the same period of last year— to finish March with 9.9 million subscribers, 20.3% more than a year ago and 4.0% above the previous quarter.

First quarter revenues rose 1.5% year-on-year, to 356 million dollars. Airtime prices have trended down but so have the costs of the airtime paid to the various carriers.

EBITDA was up 11.4% relative to the same period of 2007 to 76 million dollars. The EBITDA margin stood at 21.3% in the quarter; almost two percentage points higher than a year before.

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INCOME STATEMENT

United States

Millions of Dollars

		1Q08		1Q07		Var.%
Revenues		356		351		1.5%
EBITDA		76		68		11.4%
%		21.3%		19.4%
EBIT		70		63		11.1%
%		19.6%		17.9%

United State´s Operating Data

		1Q08		1Q07		Var.%
Wireless Subscribers (thousands)		9,895		8,229		20.3%
MOU		77		69		12.4%
ARPU (US$)		11		13		-11.7%
Churn (%)		3.5%		5.0%		(1.5)

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Exchange Rates

		1Q08		1Q07		Var.%
Mexico
EoP		10.70		11.08		-3.5%
Average		10.76		11.08		-2.9%
Brazil
EoP		1.75		2.05		-14.7%
Average		1.73		2.10		-17.5%
Argentina
EoP		3.17		3.10		2.2%
Average		3.16		3.10		1.9%
Chile
EoP		438		539		-18.8%
Average		452		541		-16.4%
Colombia
EoP		1,822		2,155		-15.5%
Average		1,868		2,213		-15.6%
Guatemala
EoP		7.61		7.69		-1.0%
Average		7.70		7.71		-0.1%
Honduras
EoP		19.03		19.03		0.0%
Average		19.03		19.03		0.0%
Nicaragua
EoP		19.13		18.22		5.0%
Average		19.06		18.15		5.0%
Peru
EoP		2.75		3.18		-13.8%
Average		2.86		3.19		-10.5%
Paraguay
EoP		4,380		5,050		-13.3%
Average		4,557		5,167		-11.8%
Uruguay
EoP		20.35		24.11		-15.6%
Average		20.74		24.25		-14.5%
Dominican
EoP		34.08		32.44		5.1%
Average		34.07		33.18		2.7%
Jamaica
EoP		71.60		67.6		5.9%
Average		71.29		67.5		5.6%

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