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AMÉRICA MÓVIL’S FIRST QUARTER OF 2010 FINANCIAL AND OPERATING REPORT

Mexico City, April 29, 2010 - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX] [NASDAQ: AMOV] [LATIBEX: XAMXL], announced today its financial and operating results for the first quarter of 2010.

Relevant Events

Beginning January 1st, 2010 América Móvil’s financial statements will be presented in accordance to International Financial Reporting Standards (IFRS) both at the consolidated and subsidiary levels. The move towards IFRS is mandatory for all Mexican listed companies, which are obliged to adopt them by January 1st, 2012 at the latest. The main change regarding the income statement is that revenues are now presented net of commissions to postpaid distributors and the cost of loyalty programs. All the information in this report, including the figures for the first quarter of 2009, was prepared under IFRS.

In March both Moody’s and Standard and Poor’s upgraded by one notch América Móvil’s credit ratings, to A2 and A-respectively. Fitch rates América Móvil at A-. All the agencies have our ratings today under a stable outlook.

Taking advantage of favorable market conditions, in March we placed 4 billion dollars of securities in an offering comprising five, ten and thirty-year notes in the U.S. market. This was the largest issue to date by a private sector company in the emerging markets space. Earlier in the quarter, we had issued debt securities in Mexico and Switzerland in the amount of 1.4 billion dollars equivalent.

Subscribers

We added 5.5 million subscribers—14.6% of them postpaid clients—in the first quarter of 2010, 41.3% more than in the same period of the prior year, as we continued with our focus on higher value clients. Brazil, Chile, Argentina, Colombia, Ecuador, Peru, Central America, and Tracfone, in the US all obtained higher net additions than in 2009. We finished the period with 206.4 million wireless subscribers, 10.6% more than a year before. In addition to these, we had 3.8 million fixed lines in Central America and the Caribbean taking the total to 210.2 million lines in the Americas.

Brazil came in first in terms of net adds with 1.2 million, followed closely by Mexico with 1.1 million subscribers and Tracfone, with just over one million subs. Our operations in Argentina and Peru both added close to 450 thousand subscribers, while Colombia gained 381 thousand new clients.

As of March we had 60.3 million subscribers in Mexico, 45.6 million in Brazil, 28.1 million in Colombia and 17.4 million in Argentina. Amongst the large Latin-American countries, Brazil grew the fastest in relative terms (15.1% year-on-year), followed by Argentina (10.1%), México (4.7%) and Colombia (4.1%). The most dynamic growth was observed in the US, where Tracfone’s subscriber base expanded by 31.4% year-on-year.

Wireless penetration is estimated to have reached nearly 92% in our region of operations (excluding the U.S.) at the end of the quarter.

América Móvil Consolidated Results

With the economic recovery throughout the Americas helping to reaccelerate consumer spending and subscriber growth, and with the secular trend towards the increased use of data services still very much in evidence, América Móvil´s operations exhibited a strong performance in the first quarter with solid top line growth and good EBITDA margin expansion.

First quarter revenues—now presented under International Financial Reporting Standards (IFRS) for both 2010 and 2009—rose 9.8% from a year before to 98.7 billion pesos, with equipment revenues increasing 15.1% buoyed by the fast pace of net subscriber additions and service revenues climbing 9.2%. The latter figure would have been a point higher had the exchange rates remained constant throughout the quarter, which speaks to the strength of revenue growth in local currencies. Data services continued to increase their share of service revenues, which hit 21.3% in the quarter vs. 16.4% in the year-earlier quarter.

EBITDA was up 12.4% year-on-year to 42.3 billion pesos, with the EBITDA margin jumping 1 percentage point to reach 42.8% of revenues. Depreciation and amortization charges totaled 13.0% of revenues, having risen 15.7% from a year before mostly as a result of faster depreciation of network equipment in Brazil. Operating profits increased 11.1% to 29.4 billion pesos, a figure that was just shy of 30% of revenues.

Our comprehensive financing costs totaled 2.0 billion pesos, having come down by 38.2% from the previous year as a result of a lower level of net debt and foreign exchange gains stemming mostly from the appreciation of the Mexican peso vs. the dollar.

We obtained a net profit of 16.9 billion pesos in the quarter, slightly higher than the one seen a year before. It was equivalent to 52 peso cents per share and 82 dollar cents per ADR. These figures were up 4.7% and 15.5% year-on-year.

Our net debt came down by 17.2 billion pesos in the quarter to 66.4 billion pesos, even after capital expenditures and share repurchases of 5.4 billion pesos each.

By the end of March, we had finished approximately 95% of the international transport network for voice and data we have been building in various countries. This new network will allow us to improve the quality and the cost of various services, particularly as regards long distance and data traffic.

Argentina, Paraguay & Uruguay

Our combined subscriber base in Argentina Paraguay and Uruguay ended the quarter with 18.7 million subscribers. It was up 9.5% in annual terms. Net additions came in at 451 thousand, of which 27% were postpaid. Argentina has the highest penetration rate in the Americas: it is estimated to have reached 126% at the end of March. This notwithstanding, our net additions in Argentina were still higher than those of a year ago.

Revenues for the quarter, 2.2 billion Argentinean pesos, were 18.3% greater than those of 2009, as service revenues expanded 23.0% in the period. The dynamism of data revenues continued as they climbed 18.7% on an annual basis fueling a 12.8% increase in ARPU year-on-year: The latter also benefited from an important increase in voice revenues.

Boosted by the strong growth of revenues and by a 7.9 percentage point increase in the EBITDA margin (to 42.4%), EBITDA was up nearly 46% year-on-year to reach 926 million Argentinean pesos.

We gained 1.2 million clients in Brazil in the first quarter, 38.2% more than in the same period of 2009, to finish the quarter with 45.6 million subs, which represents an increase of 15.1% year-on-year.

Revenues of 2.8 billion reais exceeded by 3.3% those of the year-earlier quarter. Service revenues rose at a somewhat faster rate on the back of a 44.4% increase in data revenues which helped compensate a slight reduction in voice revenues. ARPU fell 8.7% to 20 reais, partly as a result of prices per minute falling 19.6%

EBITDA was up 22.6% mostly on account of the significant margin expansion that took place over the quarter, with the EBITDA margin shooting up by 5 percentage points to 31.7%.

Chile

At 171 thousand, our net additions in the first quarter more than doubled those of the year-earlier quarter bringing to 3.8 million our subscriber base. Whereas the latter expanded by 22.4% in annual terms, our postpaid subscriber base increased 42.7%. Approximately one fourth of the net additions of the quarter were postpaid.

Revenues were up 23.1% from a year before to 72.2 billion Chilean pesos. Service revenues expanded 13.8% in the period as data revenues nearly doubled.

Our EBITDA, 5.7 billion Chilean pesos, was nearly four times higher than that of the same quarter of 2009. The EBITDA margin, 7.9% of revenues, was 5.4 percentage points higher than that of the precedent year.

On February 7th Chile was struck by an earthquake that produced severe damages in the country. We were able to restore communications in a relatively short period of time.

Colombia and Panama

We finished the quarter with 28.2 million subscribers in Colombia-Panama after adding 363 thousand new clients in those countries. Postpaid net additions were 54.4% greater than those gained in the first quarter of 2009 and represent a fifth of the period’s net adds. Our subscriber base was up 4.5% relative to last year.

We generated revenues of 1.5 trillion Colombian pesos in the first quarter that were flat year-on-year. Data continues to gain traction with revenue growth of 92.7% from the prior year. Our average price per minute of voice came down by 20.7% and was not fully compensated by the associated 14.8% increase in MOUs, but the ARPU remained firm thanks to the great growth of data revenues.

Even with greater net adds, we saw EBITDA rise 4.2% year-over-year as a result of strict cost control policies and better operational execution. Our EBITDA margin for the year stood at 51.0% slightly above that of 2009.

Peru

Net additions for the quarter, 430 thousand, exceeded by almost 40% those of a year ago. They brought our subscriber base to 8.7 million subscribers, which represented a 16.8% increase year-on-year.

Revenues reached 654 million soles in the first three months of the year. They were up 19.4% from a year before on the back of service revenues that jumped 22.7%, led by data revenues that expanded 73.6%. The growth of data revenues was key in bringing about a 5.9% jump in ARPU.

EBITDA expanded 48.3% relative to the year-earlier quarter, to 286 million soles. Our EBITDA margin for the period, 43.7%, jumped 8.5 percentage points from a year before on lower subscriber acquisition costs and greater technical and operational efficiencies.

Few months after number portability was implemented in Peru, Claro is a net gainer of ported numbers by a wide margin.

Central America

Our combined subscriber base in Central America ended March with 9.7 million subscribers after gaining 200 thousand new clients in the period. Net additions more than tripled as compared to those of last year. We also had a total of 2.3 million landlines in this region.

First quarter revenues came in at 332 million dollars, slightly less than in the year-earlier quarter, with wireless service revenues staying firm in spite of the significant reduction in the average revenue per minute (-22.9%) thanks to data revenue growth.

EBITDA of 141 million dollars was 3.1% below that of a year before. The EBITDA margin stood at 42.3%.

Caribbean

Our subscriber base ended March with 6.3 million subscribers—it was up 18.1% year-over-year—after adding 203 thousand subs in the first quarter. Postpaid net adds were nearly 3 times as high as those of the same period of the precedent year although total net additions were down partly on account of the high penetration rate already attained in the region.

At 524 million dollars first quarter revenues were flat year-on-year, with service revenues declining only slightly in the face of a marked reduction (25.8%) in prices per minute. Wireless revenues kept on expanding their share of service revenues, as did data revenues, which shot up nearly 50% over the prior year.

EBITDA rose 38.8% to 146 million dollars reflecting among other things a reduction in subscriber acquisition costs. The EBITDA margin climbed almost eight percentage points, to 27.9%.

United States

Our operation in the U.S. exhibited the fastest pace of subscriber growth among our operations. Net additions for the quarter, one million, were 80.8% higher than those of a year before, leading our subscriber base to 15.5 million clients at the end of the period. This is a 31.4% increase over the year-earlier quarter.

First quarter revenues reached a record high of 605 million dollars, having increased 60.5% in annual terms. Our new product, StraightTalk, and the commercial efforts made to strengthen our other brands helped bring about a 45.1% increase in service revenues. MOUs more than doubled in the period, with the ARPU climbing 11.2% from a year before.

EBITDA was up 3.5% year-on-year to 77 million dollars in spite of the strong subscriber growth and associated subscriber acquisition costs. The EBITDA margin for the period stood at 12.7% of revenues.