(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F:   ý      Form 40-F:   o 

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)):

Yes:   o      No:   ý 

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)):

Yes:   o      No:   ý 

(Indicate by check mark whether the registrant by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes:   o      No:   ý 

Oscar Thompson
CEO and Head of Investor Relations
oscar@telepart.com.br
Phone: +55 61 3429-5620

TELEMIG CELULAR PARTICIPAÇÕES S.A. REPORTS
FOURTH QUARTER AND YEAR-END 2006 RESULTS

-   EBITDA of R$348.7 million or 32.1% of net service revenues for the year
-   Client base reached 3,435,562 for the year
-   Negative net debt of R$313.2 million at year-end
-   Market share in the Triângulo Mineiro region estimated at 17.3%

Brasília, Brazil, March 27, 2007 – Telemig Celular Participações S.A. (BOVESPA: TMCP3 (Common)/TMCP4 (Preferred); NYSE: TMB), the holding company of the wireless telecommunications service provider in the State of Minas Gerais, today announced its fourth quarter and year-end 2006 results. The Company acquired 11,585 new customers in the quarter, increasing its client base to 3,435,562. EBITDA reached R$78.7 million in the 4Q06, representing 25.5% of net service revenues. For the year, EBITDA totaled R$348.7 million, representing 32.1% of net service revenues.

Operations Highlights:

The Company’s client base reached 3,435,562 in the fourth quarter of 2006, representing an increase of 91,378 clients when compared to the same period of last year. Net additions amounted to 11,585 in the quarter.

In the 4Q06, prepaid net additions amounted to 18,316, bringing the total prepaid base to 2,637,382, or 77% of the total base. The Company realized a client base clean-up in November and December 2006, which resulted in the elimination of approximately 103,000 clients from the prepaid base. The postpaid base decreased by 6,731 customers, ending the quarter with 798,180, or 23% of the total base.

CLIENT BASE (000s)

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In the fourth quarter of the year, blended annualized churn rate increased to 54.1% from the 36.8% registered in the previous quarter as a result of the significant increase in the prepaid churn rate.

Blended annualized churn rate reached 39.1% in 2006, representing an increase of 5.5 percentage points when compared to the previous year. Excluding the effects of the prepaid client base clean-up, blended annualized churn rate would have reached 36.1%, 2.5 percentage points higher than the previous year.

Prepaid annualized churn rate increased to 63.3% in the 4Q06, when compared to the 41.5% registered in the previous quarter. This increase is a consequence of the prepaid client base clean-up held in November and December 2006. Excluding this effect, prepaid annualized churn rate would have reached 47.4% in the 4Q06, 5.9 percentage points higher than the 3Q06.

For the year, prepaid annualized churn rate reached 44.1%, representing an increase of 6.3 percentage points when compared to 2005. This increase is a consequence of the already mentioned prepaid client base clean-up held in November and December 2006. Excluding this effect, prepaid annualized churn rate would have reached 40.1%, 2.3 percentage points higher than the previous year.

Annualized churn rate for the postpaid segment, which accounts for most of the revenues generated, increased by 2.4 percentage points when compared to the 3Q06, reaching 24.2% . Despite the increasingly competitive environment, the Company was able to keep postpaid annualized churn rate below 25%.

In 2006, the postpaid annualized churn rate reached 23.7% in 2006, 1.7 percentage points higher than 2005, as a result of a more competitive scenario and the profile of the customers acquired during the Christmas campaign in 2005 and the first quarter of 2006.

CHURN RATE (annualized)

Net service revenues totaled R$309.3 million in the 4Q06, an increase of R$24.1 million or 8.4% over the previous quarter, primarily resulting from the 5.2% increase in total traffic (3.9% increase in incoming traffic and 6.5% increase in outgoing traffic). This total traffic increase is related to seasonal factors.

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For 2006, net service revenues reached R$1,087.4 million, higher than the R$1,061.5 million registered in the previous year. This improvement is mainly related to the increase of interconnection revenues in the amount of R$68.1 million or 18.8%, as a consequence of the adoption of the “full billing” rule for interconnection charges.

The adoption of the “full billing” rule complies with Anatel’s new regulation for Network Usage of SMP Networks, which establishes that interconnection payments between SMP operators may occur independently of the traffic balance between the operators.

Thus, since July 14, 2006, the Company has no longer been subject to the “bill & keep” rule, which established that interconnection payments between SMP operators only occurred when the traffic balance between any two companies was either less than 45% or in excess of 55%, which resulted in a substantial reduction in interconnection revenues and costs.

In 2006, the adoption of the “full billing” rule, resulted in higher EBITDA and lower EBITDA margin.

Excluding the “full billing” impacts, net service revenues would have reached R$982.5 million, R$78.9 million lower than 2005, basically due to the R$59.3 million reduction in roaming revenues.

Data revenues reached R$22.0 million in the fourth quarter, remaining in line with the R$21.7 million reported in the 3Q06. For the year, data revenues reached R$88.5 million, 42.1% higher than the R$62.3 million recorded in 2005 due to the reclassification of VAS revenues in the amount of R$22.4 million and to the promotional campaigns held in 2006.

Net equipment revenues for the quarter totaled R$31.3 million, 47.2% higher than the R$21.3 million registered in the 3Q06. This increase was already expected and is associated with higher seasonally-driven sales. For the year, net equipment revenues reached R$106.1 million, an increase of 21.3% over the R$87.5 million reported in 2005, due to increased handset sales.

In the 4Q06, handset subsidies for client acquisitions reached R$19.3 million or R$40.7 per gross addition, compared to R$9.6 million or R$28.8 per gross addition registered in the previous quarter. This difference is related to Christmas campaigns. In 2006, handset subsidies reached R$51.6 million, almost in line with the R$51.0 million registered in 2005.

As a result, total net revenues totaled R$340.6 million for the quarter, 11.1% higher than the 3Q05. For the year, total net revenues reached R$1,193.5 million, an increase of 3.9% when compared to the R$1,148.9 recorded in 2005.

Cost of services totaled R$102.6 million in the fourth quarter, remaining fairly stable when compared to the R$102.3 million registered in the 3Q06. In 2006, cost of services reached R$326.7 million, 25.2% higher than 2005. This increase is related to higher interconnection costs as a consequence of the adoption of the “full billing” rule. However, this increase was partially offset by the R$12.7 million reduction in Fistel expenses related to lower client base growth when compared to 2005.

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Selling and marketing expenses totaled R$65.1 million in the 4Q06, 13.9% higher than the R$57.1 million recorded in the previous quarter. This increase is a consequence of higher promotional and advertising expenses and handset inventory clean-up. In 2006, selling and marketing expenses reached R$245.4 million, practically flat when compared to the R$245.1 million posted in 2005.

Customer acquisition cost in the fourth quarter decreased to R$129 from the R$135 registered in the previous quarter, the lowest figure since the 3Q04, when the fourth player started operating in the Company’s authorization area 4. In 2006, customer acquisition cost reached R$147, R$2 higher than the R$145 registered in 2005.

Retention costs reached R$42.6 million in the 4Q06, lower than the R$44.2 million registered in the 3Q06 due to the rationalization of retention expenses. For the year, retention costs amounted to R$168.5 million, 19.6% higher than the R$140.9 million reported in the previous year, as a consequence of the efforts to retain the best and most profitable customers in the base.

General and administrative expenses reached R$34.1 million in the 4Q06, higher than the R$21.3 million recorded in the previous quarter. This increase is primarily related to higher consulting expenses. In 2006, G&A expenses reached R$96.0 million, higher than the R$75.6 million recorded in 2005, mainly due to the above mentioned consulting expenses.

Bad debt provisions in 4Q06 reached R$9.4 million, R$2.4 million higher than the R$7.0 million registered in the previous quarter. This increase is associated with the change in accounting treatment of interconnection disputes in the amount of R$2.4 million. Excluding this effect, bad debt provisions would have remained in line with the previous quarter. As a percentage of net service revenues, bad debt provisions reached 3.0% versus 2.5% registered in the 3Q06. In 2006, bad debt provisions increased by 96.4%, from R$21.1 million in 2005, to R$41.4 million in 2006. This increase is associated to less strict credit policies executed between the 4Q05 and 2Q06 and to larger volume of subscription frauds at the end of 2005 and beginning of 2006. As a percentage of net service revenues, bad debt provisions totaled 3.8%, or 3.5% of total net revenues in 2006.

BAD DEBT PROVISIONS (R$ million)

Postpaid MOU (minutes of use) totaled 197 in the 4Q06, representing a 3.7% increase when compared to the 190 minutes posted in the previous quarter, due to larger number of promotional minutes offered to clients. In 2006, postpaid MOU totaled 185 minutes, below the 191 reported in 2005, due to the profile of customers acquired at the end of 2005 and first quarter of 2006.

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Postpaid ARPU reached R$79.7 in the 4Q06, representing an increase of R$7.1 when compared to the R$72.6 registered in the previous quarter, as a consequence of larger volume of incoming and outgoing traffics. For the year, postpaid ARPU increased by 2.2% reaching R$69.8. This increase is a consequence of the adoption of the “full billing” rule. Excluding this impact, postpaid ARPU would have reached R$64.6, a decrease of R$3.6 when compared to 2005, due to higher number of free minutes offered and lower interconnection traffic per user.

Prepaid MOU reached 34 in the fourth quarter, 9.7% higher than the 31 minutes registered in the previous quarter, due to seasonal factors during the end of the year. In 2006, prepaid MOU decreased to 29 when compared to the 32 minutes registered in 2005, due to lower volume of incoming minutes.

Prepaid ARPU totaled R$13.5 in the 4Q06, an increase of R$1.2 when compared to the R$12.3 registered in the previous quarter, as a consequence of increased traffic volume. In 2006, prepaid ARPU decreased by 5.1% over 2005, despite the adoption of the “full billing” rule, reaching R$11.2. Excluding the “full billing” impact, prepaid ARPU would have reached R$9.5, lower than the R$11.8 registered in 2005, due to reduced volume of incoming minutes and larger number of free minutes offered during the first half of the year.

As a result, in the fourth quarter of the year, total blended MOU reached 72 minutes and blended ARPU totaled R$29.0, representing an increase of R$2.4 when compared to the R$26.6 registered in the 3Q06. In 2006, blended MOU reached 67 minutes and blended ARPU amounted to R$25.4. Excluding the “full billing” impact, blended ARPU would have reached R$22.8.

ARPU (R$)

Total market share was estimated at 31.6% in the 4Q06, versus 32.7% registered in the previous quarter. Excluding the Triângulo Mineiro region, market share was estimated at 33.1%, compared to the 34.4% registered in the 3Q06. For the Triângulo Mineiro region, market share was estimated at 17.3%, higher than the 16.4% in the 3Q06.

Total market share reduction in 4Q06 was a result of the prepaid client base clean-up held in November and December 2006, which resulted in the elimination of approximately 103,000 users from the base. The Company achieved market leadership in gross sales share in November and December, resulting in a significant deceleration in the market share downward trend that has marked the Company’s performance in recent years. Excluding the client base clean-up, the Company would have reached an estimated market share of 32.2% in the 4Q06, remained in line with the 32.7% recorded in the 3Q06.

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Total gross sales share for the 4Q06 was estimated at 30.3% . Excluding the Triângulo Mineiro region, gross sales shares was estimated at 30.4% versus 25.9% recorded in the 3Q06. For the Triângulo Mineiro region, gross sales share was estimated at 29.9% .

EBITDA and the EBITDA margin (excluding handset revenues) for the fourth quarter of 2006 reached R$78.7 million and 25.5%, respectively, versus R$91.3 million and 32.0% registered in the previous quarter. In 2006, EBITDA and the EBITDA margin totaled R$348.7 million and 32.1%, respectively. Excluding the “full billing” impact, EBITDA would have reached R$331.0 million, representing 33.7% of net service revenues in 2006.

Excluding non-recurring expenses executed by the Company’s new management (which included consulting services, provisions for losses in inventory in transit or held by third parties and elimination of obsolete handset from inventories), EBITDA and EBITDA margin would have reached R$354.0 million and 36.0% of net service revenues, respectively.

EBITDA (R$ million)

For the 4Q06, depreciation and amortization expenses amounted to R$53.1 million, higher than the R$46.6 million registered in 3Q06. For the year, these expenses reached R$195.0 million, 13.3% lower when compared to 2005. This reduction as a result of lower volume of investments and the conclusion of TDMA network depreciation in the 1Q06.

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DETAILED FINANCIAL INCOME INFORMATION

Net income for the 4Q06 totaled R$28.0 million, or R$1.566 per ADS (R$0.078 per 1,000 shares). For the year, net income reached R$113.4 million, or R$6.341 per ADS (R$0.317 per 1,000 shares), 34.9% lower than 2005.

As of December 31, 2006, total debt totaled R$171.0 million, 100% of which was denominated in US Dollars. Of the total debt denominated in foreign currencies, 100% was hedged.

As of December 31, 2006, the Company’s indebtedness was partially offset by cash and cash equivalents and temporary cash investments in the amount of R$527.8 million but was impacted by accounts payable from hedging operations in the amount of R$43.5 million, resulting in a negative net debt of R$313.2 million.

NET DEBT (R$ million)

During the fourth quarter of 2006, Telemig Celular’s capital expenditures reached R$130.5 million. For the year, capital expenditures totaled R$252.5 million. The breakdown of such investments is as follows:

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CAPEX BREAKDOWN

The unsecured Senior Notes (Notes Units or Notes) has restrictive conditions including covenants based on financial ratios.
The Notes was conducted in conjunction with our affiliated company, Amazônia Celular S.A. (“Amazônia”), which is also subject to the same restrictive conditions. Should the Company or Amazônia fail to comply with these conditions, the Notes may be subject to early maturity.
On December 31, 2005 and 2006, all the restrictive conditions were met by our subsidiary. However, due to additional provisions related to disputes concerning the payment of value added tax (ICMS) on activations, monthly subscription fees and VAS, Amazônia did not comply with the financial ratios specified in the Notes during 4Q06. The management of both our subsidiary and Amazônia has begun the negotiation process with our creditors and are confident that a waiver will be granted. However, as no definitive agreement has been reached yet, the financing installment originally due in the long-term, amounting to R$171.0 million, was reclassified under current liabilities.

Free cash flow in the quarter was negative at R$153.1 million, compared to a positive free cash flow of R$22.5 million registered in the previous quarter. In 2006, free cash flow was negative at R$150.9 million, compared to a positive free cash flow of R$199.8 million in 2005. This difference is related to lower EBITDA and the reclassification of the Notes as short-term due to Amazônia’s technical breach of the covenants in the 4Q06, partially offset by lower investments. Excluding the Notes reclassification effect, free cash flow would have reached a positive R$20.1 million, representing a decrease of R$179.7 million when compared to 2005 due to (i) the R$82.5 million reduction in EBITDA, (ii) lower results from hedging operations, and (iii) the negative working capital variation.

*******************

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For further information, please contact:

Telemig Celular Participações S.A.
Investor Relations Department
Oscar Thompson / Renata Pantoja / Fernanda Ribeiro
Phone: (61) 3429-5620/5616/5617
Fax: (61) 3429-5626
E-mail: ri@telepart.com.br

This press release 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.

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OPERATIONAL DATA

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INCOME STATEMENT (BR GAAP)

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BALANCE SHEET (BR GAAP)

CASH FLOW (BR GAAP)

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GLOSSARY OF KEY INDICATORS

I) Average Subscribers

a) Average subscribers – monthly

     Sum of subscribers at the beginning and the end of the month
2

b) Average subscribers – quarterly and year to date

Sum of the average subscribers for each month of the period
Number of months in the period

II) Churn Rate (Annualized)

a) Churn % quarterly

     Sum of deactivations / Sum of average monthly opening subscribers for the 3 months x 12
3

b) Churn % - year to date

YTD deactivations / Sum of avg monthly opening subscribers since beginning of the year x 12
Number of months in the period

III) MOU – Minutes of Use (Monthly)

Number of total billable minutes for the period / Average subscribers for the period
Number of months in the periods

IV) ARPU – Average Revenue per User

Net service revenues for the period (excluding roaming-in revenues)
Average subscribers for the period

V) Customer Acquisition Cost

(Sum of Marketing salaries, Selling salaries, Consulting (Sales and Marketing),
Commissions, Handsets subsidies, Advertising and promotions,
FISTEL tax (activation tax), less Activation fee for the period)
Number of gross activations in the period

VI) Free Cash Flow

VII) Working Capital Variation

     Working Capital Variation = ( ( Current Assets – ( Cash & Cash Equivalents) –
(( Current Liabilities – ( Short Term Loans and Financing - ( Loan Interest - ( Dividends)

VIII) Interest Coverage Ratio

Interest Coverage Ratio = EBITDA / Interest Paid

IX) Current Liquidity Ratio

Current Liquidity Ratio = Current Assets / Current Liabilities

X) EBITDA

EBITDA = Operational Revenues - Operational Costs - Operational Expenses* - Bad Debt
* Does not include profit sharing.

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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.