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CELLULAR COMMUNICATIONS INTERNATIONAL, INC. ANNOUNCES OPERATING RESULTS

 CELLULAR COMMUNICATIONS INTERNATIONAL, INC. ANNOUNCES @(? ??H? ?@?0? ? ? -9 ?EU IQ I ?E?e?e?I?5?)? ?
 NEW YORK, Aug. 14 /PRNewswire/ -- Cellular Communications International, Inc. (NASDAQ: CCIL) ("CCII") announced today its operating results for the three and six months ended June 30, 1992.
 CCII was formerly 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 Sept. 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 asset is 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. CCII has not yet generated any revenues from operations.
 CELLULAR COMMUNICATIONS INTERNATIONAL, INC.
 (In thousands, except per share data)
 Three Months Ended June 30
 1992 1991
 General & administrative
 expenses $ 303 $ 82
 Depreciation expense 2 --
 Operating (loss) (305) (82)
 Interest and dividend income 202 --
 Net (loss) $ (103) $ (82)
 Net (loss) per common share $ (.02) $ (.01)
 Weighted average shares 6,640 6,625
 Six Months Ended June 30
 1992 1991
 General & administrative
 expenses $ 514 $ 129
 Equity in loss of joint
 venture -- 20
 Depreciation expense 2 --
 Operating (loss) (516) (149)
 Interest and dividend income 410 --
 Net (loss) $ (106) $ (149)
 Net (loss) per common share $ (.02) $ (.02)
 Weighted average shares 6,638 6,625
 Discussion of Second Quarter Results
 General and administrative expenses increased from $82,000 to $303,000 because CCII became a separate public company in 1992, 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 $0 to $202,000 in 1992 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 purposes 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. Sterling has been selected as one of 14 applicants (from an original list of approximately 30) to participate in the second phase of applying for one of the GSM digital cellular licenses being offered by the Indian government for the cities of Bombay, Delhi, Madras and Calcutta. The joint venture agreement states that if Sterling is granted a license, then upon unanimous approval of CCII and Sterling Computers Ltd., each of them will be required to contribute, in proportion to their ownership interest, up to a maximum of $5,000,000, less all prior contributions. If Sterling is granted more than one license, then additional contributions may be needed, which would require unanimous approval of CCII and Sterling Computers Ltd.
 -0- 8/14/92
 /CONTACT: William B. Ginsberg, president, 212-906-8480 or Thomas B. Tesluk, senior vice president, 212-906-8488, both of Cellular Communications International/
 (CCIL) CO: Cellular Communications International, Inc. ST: New York IN: TLS SU: ERN


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Date:Aug 14, 1992
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