Digicel, the fastest-growing telecommunications operator in the Caribbean and new entrant to the Central American market, today announced that it has ended its fiscal year (March 31,2008) with 6.54 million customers, representing a 39 percent increase compared to the same quarter in the previous fiscal year. Operating across 23 markets, Digicel Group continues to experience organic growth in existing markets while increasing mobile penetration growth rates in new markets. 

In November 2007, Digicel successfully launched operations in Suriname, offering superior customer care, better value and wider coverage while helping to drive mobile penetration growth from 55 percent to close to 70 percent. Digicel already has a presence in South America through its operations in Guyana and French Guiana. Its Caribbean and Latin American GSM networks also extend across the British West Indies, the Dutch Caribbean, the French West Indies, Bermuda and El Salvador.

Digicel plans to further expand later this year with a pending launch in the British Virgin Islands, while Digicel Central America Holdings, a sister company to Digicel Group, prepares to launch in Honduras and Panama. These launches will expand Digicel's GSM network to 26 markets.

"We're very excited about our ability to sustain growth opportunities in existing markets while picking up momentum in new ones, and we've had one of our most successful financial years to date," said Colm Delves, Digicel Group CEO. "We will continue to put our customers first by offering them better value, world-class customer care, new technology innovations and attractive offerings based on the strength of our network."

Digicel's key milestones to date include:

Market Growth:

--  Digicel El Salvador reached its one-year anniversary April 12, 2008, tripling                                              its subscriber base and increasing mobile penetration rates from
    approximately 30 to 61 percent in 12 months. Meanwhile, Digicel Central
    America Holdings Ltd. won a competitive license bid to operate a GSM mobile
    network in Panama in May 2008, following its successful license bid in
    Honduras in December 2007.
    
--  In November 2007, Digicel launched in the newly liberalized market of
    Suriname and has since dramatically gained market share of 30 percent in
    just seven months.
    
--  In May 2008, Digicel Haiti celebrated its second year of operations
    becoming the leading brand in the country with more than 2,000,000
    customers. The Digicel Haiti Foundation celebrated its one-year anniversary
    in March 2008, delivering on its initial commitment to build 20 primary
    schools across the country.
   
Digicel's investment in the Caribbean and the Central American region exceeds US$2 billion. The company directly employs more than 4,000 people across its 23 markets.

Source:  Marketwire