Millicom Acquires Leading Provider of Broadband and Cable TV Services in Central America

Millicom Acquires Leading Provider of Broadband and Cable TV Services in Central
America

New York and Stockholm - 22 July 2008 - Millicom International Cellular S.A.
(Nasdaq Stock Market: MICC and Stockholmsbörsen: MIC), the global
telecommunications company, today announced that it has agreed to acquire 100%
of Amnet Telecommunications Holding Limited (Amnet) for an enterprise value of
US$ 510 million. Completion of the acquisition, which is subject to customary
approvals, is expected within three months.

Amnet began operations in Central America in 1997 and is owned by private
investors. It is the leading provider of broadband and cable television services
in Costa Rica, Honduras and El Salvador, provides fixed telephony in El Salvador
and Honduras, and provides corporate data services in the above countries as
well as Guatemala and Nicaragua. Across its various markets and product
offerings, it has in excess of 350,000 corporate and residential customers. In
the 12 months ended December 2007, it reported revenue of US$ 143 million and
EBITDA of US$ 56 million.

Central America is Millicom's most important region, accounting for 43% of the
group's worldwide revenue, 55% of EBITDA and 38% of subscribers. At 31st
December 2007 Millicom's business in Central America had 8.8 million subscribers
contributing US$ 1.2 billion in revenue and US$ 608 million in EBITDA for the
year. Millicom operates under the Tigo brand across Central America and is the
number one mobile operator in Guatemala, El Salvador and Honduras.

Marc Beuls, President and CEO of Millicom commented, "This transaction is an
important step in the development of our strategy for Central America. There is
today a lack of fixed line infrastructure to carry broadband services but
customers in these markets are increasingly demanding access to broadband
services, and in order to satisfy this demand we are launching 3G services
across the region in the second half of 2008. The acquisition of Amnet will
bring us in excess of 350,000 high ARPU customers, and also dramatically extend
our IP network, thereby enabling us to provide enhanced broadband and cable
television in conjunction with our new 3G mobile service.” 

Mike Kazma, a founder of Amnet who will continue to support the company as a
consultant, stated, “In recent years, Amnet has established a leading franchise
in Central America due to the tremendous effort of its employees and the support
of its customers. Millicom is ideally placed to take this company to the next
stage and to take advantage of the exciting growth opportunities in these
markets for broadband and cable TV services.”


CONTACTS

Marc Beuls
President and Chief Executive Officer
Millicom International Cellular S.A., Luxembourg
Telephone:  +352 27 759 327

Andrew Best
Investor Relations
Shared Value Ltd, London
Telephone:  +44 20 7321 5022

Visit our web site at http://www.millicom.com 

Millicom International Cellular S.A. is a global telecommunications group with
mobile telephony operations in Asia, Latin America and Africa.  It currently has
mobile operations and licenses in 16 countries.  The Group's mobile operations
have a combined population under license of approximately 291 million people.

This press release may contain certain “forward-looking statements” with respect
to Millicom's expectations and plans, strategy, management's objectives, future
performance, costs, revenues, earnings and other trend information.  It is
important to note that Millicom's actual results in the future could differ
materially from those anticipated in forward-looking statements depending on
various important factors.  Please refer to the documents that Millicom has
filed with the U.S. Securities and Exchange Commission under the U.S. Securities
Exchange Act of 1934, as amended, including Millicom's most recent annual report
on Form 20-F, for a discussion of certain of these factors.

All forward-looking statements in this press release are based on information
available to Millicom on the date hereof.  All written or oral forward-looking
statements attributable to Millicom International Cellular S.A., any Millicom
International Cellular S.A. employees or representatives acting on Millicom's
behalf are expressly qualified in their entirety by the factors referred to
above. Millicom does not intend to update these forward-looking statements.