SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 6-K

                  REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
                RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

                            FOR THE MONTH OF MAY 2001

                         (Commission File No. 001-14489)

                  TELE CENTRO OESTE CELULAR PARTICIPACOES S.A.
             (Exact name of registrant as specified in its charter)

                   TELE CENTRO OESTE CELLULAR HOLDING COMPANY
                  (Translation of registrant's name in English)

           SCS-QUADRA 2, BLOCO C, EDIFICIO ANEXO-TELEBRASILIA CELULAR
                            -7 ANDAR, BRASILIA, D.F.
                          FEDERATIVE REPUBLIC OF BRAZIL
                    (Address of Principal Executive Offices)


        (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   X    Form 40-F
                                  -----            -----

                (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
                                  -----     -----



                   TELE CENTRO OESTE CELULAR PARTICIPACOES S/A

                            PUBLICLY-HELD CORPORATION

                          CNPJ N(0) 02.558.132/0001-69

                               TO THE SHAREHOLDERS

         PAYMENT OF INTEREST ON OWNED CAPITAL AND COMPLEMENTARY DIVIDEND

      Brasilia-DF,  May 14, 2001 We hereby inform all  shareholders  that on May
      25, 2001 and observing the conditions  below, we shall commence payment of
      interest  on owned  capital  and  complementary  dividend  relative to the
      fiscal year 2000,  approved in the General ordinary  Shareholders  Meeting
      held on April 26, 2001:

1.    VALUES

      A)    INTEREST ON OWNED CAPITAL - COMMON AND PREFERRED SHARES
            Gross value per share                      R$ 0.0000528123
            Net value per share                        R$ 0.0000448904

      B)    DIVIDEND
            Value per share - Common and Preferred     R$ 0.0000511581

1.    INCOME TAX
      A)    Upon  approval  of the  accounting  credit of the  Interest on Owned
      Capital,  income tax was withheld at the rate of 15%,  except for purposes
      of payment to those  shareholders  who had proved immune or exempt to such
      tax within the period  specified by Tele Centro Oeste  Celular in official
      communication  to the  shareholders,  published in GAZETA MERCANTIL and in
      the DIARIO OFICIAL on February 08, 2001. The payment of the gross value is
      guaranteed to shareholders considered immune by law.
      B)    The dividend is not subject to income tax.

2.    FORMS OF PAYMENT
      A)    Credit to current account in the Bank informed by the shareholder.
      B)    Directly at any branch of the BANCO REAL.
      C)    The shareholders  using Fiduciary  Custodies will have their credits
            available  according to the procedures adopted by the Stock Markets.



4.    GENERAL INSTRUCTIONS
      Those shareholders  whose information is not up-to-date,  and consequently
      does not include their corresponding CPF (general taxpayer's  registry) or
      CNPJ (tax roll) or their option for credit to bank account,  may apply for
      receipt of the interest  and dividend at any branch of the BANCO REAL,  on
      condition that they present the following documentation:
o     INDIVIDUALS: CPF, RG (general registry) and updated proof of residence.
o     LEGAL  ENTITIES:   CNPJ  card,  articles  of  association  or  partnership
      agreement,  the  company's  bylaws and the minutes of the  Assembly  which
      elected  the  current  board,  as well as  copies of the CPF and RG of all
      partners or legal  representatives  of the  company.  Representation  of a
      shareholder by a nominee  requires  provision of a corresponding  power of
      attorney by a public  document,  specific  for the receipt of the Interest
      and Dividends.

5.    CLIENT SERVICE AT
      Any branch of the BANCO REAL.



                          MARIO CESAR PEREIRA DE ARAUJO
                    PRESIDENT AND HEAD OF INVESTOR RELATIONS





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THIS  RELEASE  CONTAINS  FORWARD-LOOKING  STATEMENTS.  STATEMENTS  THAT  ARE NOT
STATEMENTS  OF  HISTORICAL  FACT,  INCLUDING  STATEMENTS  ABOUT THE  BELIEFS AND
EXPECTATIONS OF THE COMPANY'S MANAGEMENT,  ARE FORWARD-LOOKING  STATEMENTS.  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.  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.



                                    SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.




                                      Tele Centro Oeste Cellular Holding Company


Date: May 15, 2001                    By:   /S/ MARIO CESAR PEREIRA DE ARAUJO
                                          --------------------------------------
                                          Name:  Mario Cesar Pereira de Araujo
                                          Title: President