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CELLULAR COMMUNICATIONS INTERNATIONAL, INC. ANNOUNCES OPERATING RESULTS FOR THE THIRD QUARTER 1992

 CELLULAR COMMUNICATIONS INTERNATIONAL, INC. ANNOUNCES
 OPERATING RESULTS FOR THE THIRD QUARTER 1992
 NEW YORK, Nov. 13 /PRNewswire/ -- Cellular Communications International, Inc. (NASDAQ: CCIL) ("CCII") announced today its operating results for the three and nine months ended Sept. 30, 1992.
 CCII was a wholly owned subsidiary of Cellular Communications, Inc. ("CCI") until July 31, 1991, when it was distributed to CCI shareholders, who received one share of CCII for every six shares of CCI they held. Immediately prior to the distribution, CCII received a cash contribution of approximately $14,000,000 from CCI. In September 1991, CCII purchased $10,000,000 of CCI Series A Preference Stock.
 CCII is at present pursuing opportunities in mobile telecommunications services outside the United States. Currently, CCII's primary assets are its investment in Omnitel, an Italian joint venture organized to apply for a cellular telephone license in Italy (including San Marino and Vatican City), if and when the Italian government makes such a license available, and its investment in Sterling Cellular Ltd., which has been provisionally awarded one of the two GSM digital cellular licenses for the city of Madras, India. CCII has not yet generated any revenues from operations.
 CELLULAR COMMUNICATIONS INTERNATIONAL, INC.
 (In thousands, except per share data)
 Periods Ended Sept. 30 Three Months
 1992 1991
 General & administrative expenses $ 413 $ 134
 Depreciation expense 2 --
 Operating (loss) (415) (134)
 Interest and dividend income 197 97
 Net (loss) $ (218) $(37)
 Net (loss) per common share $ (.03) $ (.01)
 Weighted average shares 6,640 6,625
 CELLULAR COMMUNICATIONS INTERNATIONAL, INC.
 (In thousands, except per share data)
 Period Ended Sept. 30 Nine Months
 1992 1991
 General & administrative expenses $ 927 $ 263
 Equity in loss of joint venture -- 20
 Depreciation expense 4 --
 Operating (loss) (931) (283)
 Interest and dividend income 607 97
 Net (loss) $ (324) $ (186)
 Net (loss) per common share $ (.05) $ (.03)
 Weighted average shares 6,638 6,625
 Discussion of Third Quarter Results
 General and administrative expenses increased from $134,000 to $413,000 because of increases in payroll, franchise taxes and corporate overhead expenses related to operating as a separate public company as of July 31, 1991, whereas the 1991 amount represents allocations of costs from CCI.
 Depreciation expense increased from none in 1991 to $2,000 in 1992 because CCII purchased certain equipment in 1992.
 Interest and dividend income increased from $97,000 to $197,000 due to higher cash balances available for investments and accrued dividends on CCI preferred stock.
 In March 1992, CCII entered into a joint venture called Sterling Cellular Ltd. ("Sterling") for the purpose of developing new wireless communication business opportunities in India. Sterling is an Indian company owned 50 percent by CCII and 50 percent by Sterling Computers Ltd. of Madras, a manufacturer and distributor of computers and peripheral equipment. In October 1992, the Indian government announced that Sterling had been provisionally awarded one of the two GSM digital cellular licenses for the city of Madras, India, subject to the finalization of license terms and conditions. Madras is a port city and one of the four largest cities in India with a population of approximately 5.3 million inhabitants. It is estimated that partner contributions of up to $5,000,000 each, subject to the unanimous approval of CCII and Sterling Computers Ltd., will be sufficient to meet Sterling's cash requirements through 1993.
 -0- 11/13/92
 /CONTACT: William B. Ginsberg, president, 212-906-8480 or Thomas B. Tesluk, senior vice president, 212-906-8488/
 (CCIL) CO: Cellular Communications International ST: New York IN: TLS SU: ERN


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Date:Nov 13, 1992
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