Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
The Management of Telesp Celular Participações S.A. hereby informs that in the meeting held on October 24th, 2002 the Board of Directors approved the proposal for the adaptation of the concession instruments of the Mobile Telecommunication Services (Brazilian SMC) of Telesp Celular S.A., a wholly-owned subsidiary of the Company, to the regulatory regime of the Personal Communication Services (PCS), through the formalization of the Authorization and Migration Instrument with Agência Nacional de Telecomunicações Anatel, the Brazilian Communications regulator, under its terms of the Regulations No.316 and No. 318, both dated of September 27, 2002. This proposal was also approved by Telesp Celulars S.A. Extraordinary Shareholders Meeting held today.
Statements contained in this press release may contain information, which is forward-looking and reflects management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. Any statements, expectations, capabilities, plans and assumptions contained in this press release that do not describe historical facts, such as 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 forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. There is no guarantee that these 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.