(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 31 9933-3077
Renata Pantoja
Investor Relations Manager
rpantoja@telepart.com.br
Phone: +55 31 9933-3535

TELEMIG CELULAR PARTICIPAÇÕES S.A.
REPORTS SECOND QUARTER 2007 RESULTS

- EBITDA of R$127.8 million or 40.1% of net service revenues in the 2Q07
- Net income of R$47.7 million in the quarter
- Market share in the Triângulo Mineiro region estimated at 19.1%
- Customer acquisition cost reached R$120 in the 2Q07, registering the lowest number since the 2Q04

Belo Horizonte, Brazil, August 02, 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, announced today its results for the second quarter of 2007. The Company recorded 49,420 new customers in the quarter, increasing its client base to 3,545,360. EBITDA totaled R$127.8 million in the 2Q07, representing 40.1% of net service revenues.

Operating Highlights:

The Company’s client base reached 3,545,360 in the second quarter of 2007, representing an increase of 141,380 clients when compared to the same quarter of the previous year. Net additions amounted to 49,420 in the quarter.

In the 2Q07, prepaid net additions amounted to 51,923, bringing the total prepaid base to 2,768,708, or 78% of the total base. The postpaid base decreased by 2,503 customers, ending the quarter with 776,652, or 22% of the total base.

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In the second quarter of the year, blended annualized churn rate increased by 10.6 percentage points, reaching 40.1% when compared to the 29.5% registered in the previous quarter, as a result of the increase in the prepaid churn rate. When compared to the same quarter of the previous year, blended annualized churn rate increased by 4.9 percentage points in the quarter, also due to the increase of the prepaid churn rate.

Annualized churn rate for the postpaid segment, which accounts for most of the revenues generated, remained almost in line with the 1Q07 reaching 21.9% . Despite the increasingly competitive environment, the Company was able to keep the postpaid churn rate steady. When compared to the second quarter of 2006, annualized prepaid churn rate decreased by 5.5 p.p. due to the establishment of stricter rules for acquiring new clients, focused on credit analysis.

Annualized prepaid churn rate increased by 13.7 p.p., from 31.6% in the 1Q07 to 45.3%, reflecting the resumption of normal churn levels following the exceptionally low figure registered in the 1Q07 caused by the clean-up of the customer base in the 4Q06. When compared to the 2Q06, prepaid churn rate increased by 7.5 p.p. as a consequence of the strategy adopted for client retention by the end of September and beginning of October 2006.

Net service revenues totaled R$318.9 million in the quarter, R$19.1 million or 6.4% higher than the previous quarter, primarily resulting from the 3.7% increase in total traffic (5.4% in incoming and 2.1% in outgoing). The higher traffic is related to seasonal factors.

When compared to the 2Q06, net service revenues increased by R$76.0 million or 31.3%, mainly due to the R$63.8 million, or 79.5%, increase in interconnection revenues caused by the adoption of the full billing rule for interconnection charges. Excluding this impact, net service revenues would have reached R$255.6 million in the 2Q07, a R$12.7 million increase when compared to the same quarter of the previous year as a result of higher volume of outgoing revenues for both prepaid and postpaid segments.

Data revenues totaled R$20.1 million in the 2Q07, slightly higher than the R$19.8 million recorded in the 1Q07 and R$3.8 million lower than the R$23.9 million posted in the 2Q06. The decline reflects the revision of user packages and promotions offered by the Company and the positive 2Q06 impact of the World Cup promotions by TV Globo and the mobile operators, which increased significantly SMS volume.

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Net equipment revenues totaled R$22.5 million in the 2Q07, R$5.5 million higher than the R$17.0 million recorded in the 1Q07 due to the higher volume of gross additions in the quarter. When compared to the same quarter of the previous year, net equipment revenues decreased by R$2.7 million due to lower handset sales.

Handset subsidies for client acquisitions totaled R$8.8 million, or R$21.9 per gross addition in the quarter, versus R$7.0 million, or R$22.2 per gross addition registered in the 1Q07. The R$1.8 million increase is related to the Mothers’ Day and Valentine’s Day promotions in the 2Q07. When compared to the 2Q06, handset subsidies for client acquisitions fell by R$3.3 million as a result of lower handset sales.

As a result, total net revenues in the 2Q07 reached R$341.4 million, 7.8% up on the previous quarter, and R$73.3 million (or 27.3%) higher than the 2Q07.

Cost of services totaled R$101.6 million in the second quarter, 2.3% up when compared to the R$99.3 million registered in the previous quarter, primarily due to higher interconnection expenses. When compared to the 2Q06, cost of services increased by R$41.1 million, or 67.9%, mainly due to the higher interconnection costs caused by the adoption of the full billing rule.

Selling and marketing expenses totaled R$57.1 million in the 2Q07, 26.7% higher than the R$45.1 million recorded in the previous quarter, due to higher promotional and advertising expenses associated with the Company’s new plans and cards portfolio and the Mother’s Day and Valentine’s Day campaigns. Selling and marketing expenses decreased by R$5.7 million over the 2Q06 as a result of the rationalization of client retention costs and dealers’ commissioning, and improved inventory management (adjustment of inventories to market value).

Customer acquisition cost declined from R$124 in the 1Q07 to R$120, the lowest figure since the 2Q04, before the entry of a fourth player into the Company’s coverage area 4. When compared to the second quarter of 2006, client acquisition cost decreased by R$52 as a result of more rational acquisition campaigns with lower subsidies.

Retention costs reached R$50.5 million in the quarter, higher than the R$45.7 million registered in the 1Q07 due to higher retention and relationship discounts and subsidies. When compared to the 2Q06, retention costs increased by 17.5% due to stronger efforts to retain the best and most profitable customers in the base.

General and administrative expenses totaled R$19.2 million in the 2Q07, a 5.0% reduction when compared to the R$20.2 million recorded in the previous quarter. When compared to the 2Q06, G&A expenses decreased by R$1.8 million, mainly due to lower personnel expenses.

Other operating revenues reached R$2.3 million, reflecting the reversal of provisions related to the end of the interconnection agreement negotiations with Embratel.

Bad debt provisions totaled R$6.6 million in the 2Q07, 36.9% lower than the R$10.5 million registered in the previous quarter. This reduction is associated to (1) reversal of a provision in accounts receivable from Embratel which were considered bad debt, (2) improved collection agency performance, and (3) negotiations with corporate clients. When compared to the 2Q06,

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bad debt provisions were significantly reduced by 50.0%, due to the introduction of stricter rules governing the client acquisition process, focused on credit analysis and strong efforts to recover overdue billings as of April 2006. As a percentage of net service revenues, 2Q07 bad debt provisions reached 2.1%, versus 3.5% in the 1Q07 and 5.5% in the 2Q06. As a percentage of total net revenues, bad debt provisions reached 1.9% in the 2Q07.

Postpaid MOU (minutes of use) totaled 197 in the 2Q07, 5.4% up on the 187 minutes posted in the previous quarter due to period seasonality. When compared to the 2Q06, postpaid MOU increased by 10.2% as a consequence of improved performance of the postpaid segment.

Postpaid ARPU reached R$80.3 in the quarter, R$3.5 higher than the R$76.8 registered in the 1Q07 as a result of higher traffic per user related to seasonal factors. When compared to the second quarter of 2006, postpaid ARPU increased by 27.0%, due to the adoption of the full billing rule. Excluding this impact, postpaid ARPU would have reached R$67.8, R$4.6 higher than the 2Q06, due to the improved performance of the postpaid segment.

Prepaid MOU totaled 34 in the 2Q07, in line with the previous quarter and 30.4% higher than the 2Q06 due to the Prá Falar Mais and Prá Falar Fácil campaigns and the incentives to use more phone credits.

Prepaid ARPU totaled R$14.7 in the 2Q07, above the R$13.2 recorded in the previous quarter. When compared to the second quarter of 2006, prepaid ARPU increased by 56.4%, due to the adoption of the full billing rule. Excluding this impact, prepaid ARPU would have reached R$9.9, practically in line with the R$9.4 registered in the 2Q06.

As a result, total blended MOU reached 70 minutes in the 2Q07, higher than the 69 and 64 minutes recorded in the 1Q07 and 2Q06, respectively. Blended ARPU totaled R$29.2 in the quarter, R$1.5 higher than the R$27.6 registered in the 1Q07 and R$6.6 up on the R$22.5 recorded in the 2Q06.

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Total market share was estimated at 30.4% in the second quarter, versus 31.1% in the 1Q07. Excluding the Triângulo Mineiro region, market share was estimated at 31.6%, compared to 32.4% in the previous quarter. For the Triângulo Mineiro region, market share was estimated at 19.1%, higher than the 18.1% estimated in the previous quarter.

Total gross sales share for the 2Q07 was estimated at 31.5%, higher than the 28.7% registered in the previous quarter. Excluding the Triângulo Mineiro region, gross sales share was estimated at 31.2% compared to 28.6% in the 1Q07. For the Triângulo Mineiro region, gross sales share was estimated at 32.1%, against 29.6% in the 1Q07.

EBITDA and EBITDA margin (excluding handset revenues) totaled R$127.8 million and 40.1%, respectively, in the 2Q07, compared to R$121.2 million and 40.4% in the previous quarter. When compared to the 2Q06, EBITDA and EBITDA margin increased by R$35.7 million and 2.2 p.p., respectively. Excluding the impact of the full billing rule, EBITDA would have reached R$96.8 million in the 2Q07, representing 37.9% of net service revenues.

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Depreciation and amortization expenses amounted to R$50.1 million in the 2Q07, below the R$50.6 million registered in the 1Q07 and higher than the R$43.2 million recorded in the 2Q06, reflecting site activations and acceptance.

DETAILED FINANCIAL INCOME INFORMATION

Net income for the 2Q07 totaled R$47.7 million, or R$2.636 per ADS (R$0.132 per 1,000 shares), 12.1% higher than the 1Q07 and 158.0% up on the 2Q06.

As of June 30, 2007, total debt amounted to R$224.2 million of which R$154.1 million related to long-term debt and R$70.1 million referring to accounts payable from hedging operations. Long-term debt (R$154.1 million) was entirely denominated in US Dollars and hedged.

As of June 30, 2007, the Company’s total debt was offset by cash (cash equivalents and temporary cash investments) in the amount of R$572.0 million, resulting in a negative net debt of R$347.8 million.

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During the second quarter of 2007, Telemig Celular’s capital expenditures reached R$23.3 million. The breakdown of such investments is as follows:

CAPEX BREAKDOWN

Free cash flow in the quarter was positive by R$26.2 million, compared to a positive R$67.9 million registered in the 1Q07. This difference was mainly related to the amortization of payments to suppliers. The 2Q07 figure represented a substantial improvement over the negative free cash flow of R$1.9 million registered in the 2Q06, as a consequence of higher EBITDA and increased financial income.

(1) Last twelve months.

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Share Grouping

Telemig Celular Participações’ Extraordinary Shareholders’ Meeting, held on July 12, 2007, approved a share grouping of its shares capital. Shares will be grouped in the proportion of 10,000 (ten thousand) existing shares to 01 (one) share of the respective type. Shareholders will have until August 13, 2007 to, at their own discretion, by means of purchase or sale, adjust their shareholding positions into multiple lots of 10,000 (ten thousand) shares per type via trading on the Bovespa or on the over-the-counter market. As of August 14, 2007 (inclusive), the Company’s shares will be grouped and traded with unit quotation. ADRs representing the Company’s preferred shares will have their current ratio changed and, henceforth, be equivalent to 2 (two) shares.

VU-M Adjustment

Telemig Celular S.A. implemented on July 20, 2007, a 1.971% adjustment in the Network Usage Fees of SMP Networks (VU-M), (1) for mobile-mobile local calls between the Company and the following operators: CTBC Celular, Tim, Claro and Oi and (2) for fixed-mobile local and long distance calls between the Company and the following operators: Telemar, Telefônica, Brasil Telecom and CTBC Telecom. The Network Usage Fees for Telemig increased from R$0.43483 to R$0.44340 (with no taxes) and from R$0.45130 to R$0.46019 (with taxes).

New Personal Mobile Service Regulation

On July 27, 2007, the Executive Board of the National Telecommunications Agency (ANATEL) approved amendments to the Personal Mobile Service Regulations. As of today’s date, the new regulations have yet to be published. However, according to ANATEL, the amendments will come into force six months after their publication in the Diário Oficial da União, except for in specific cases. The Company’s management will evaluate the impacts of these amendments on its operations.

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

For further information, please contact:

Telemig Celular Participações S.A.
Investor Relations Department
Oscar Thompson / Renata Pantoja / Carolina Anastasia
Phone: (31) 9933-3077 / 3535
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.