Hans-Holger Albrecht to step down as CEO of Millicom

Stockholm, 2 December, 2014 – Millicom (Stockholmsbörsen: MIC) announced today
that Hans-Holger Albrecht has informed the Board of Directors of his intention
to step down as President and CEO of Millicom at year-end.
The Board of Directors has initiated a search process for Hans-Holger Albrecht’s
successor.  A committee comprising the Chairman, Cristina Stenbeck, and
directors Dame Amelia Fawcett and Paul Donovan has been formed to select the new
CEO and will be assisted by Egon Zehnder.

The Board has asked Tim Pennington, Chief Financial Officer, to assume the role
of interim CEO until a permanent successor has been appointed. Tim will be
working closely with the members of the Executive Committee and with the Board
of Directors to ensure the key strategic initiatives and priorities for 2015
continue to be executed.

Hans-Holger Albrecht became President and CEO of Millicom on 1 November 2012.
During his tenure there he has played a key role in developing and executing
Millicom’s strategy to transform it from a pure telecommunications company to
its current Digital Lifestyle proposition for Tigo customers in Latin America
and Africa.

Cristina Stenbeck, Chairman of Millicom, said "The Board of Directors would like
to thank Hans-Holger for his significant contribution to Millicom over the last
two years. In a short period of time, Hans-Holger has successfully created and
executed a first-class business strategy which has produced a combination of
growth and innovation, completed a successful merger in Colombia and leaves an
effective leadership team to manage the business. I know the strong momentum for
driving the current strategy and focusing on financial performance will
continue. I have worked with Hans-Holger over many years and I am grateful for
what he has helped to create.”

Hans-Holger Albrecht commented "Leading Millicom through this phase of
transformation has been a most exciting and rewarding experience. The company is
now completely focused on delivering an exciting portfolio of digital services
to over 50 million customers on two continents.”

He continued “I feel now is the right time to spend time developing a number of
entrepreneurial projects and return to the media sector where there are a number
of exciting new trends. It has been a great privilege to work with so many
talented people. I remain available to assist Tim Pennington and the Chairman
during the transition and I will continue to be engaged as senior advisor to the
Chairman of the Board as new businesses are built and new products and services
are launched.”
For more please visit: www.millicom.com or contact:

Cristina Stenbeck, Chairman of the Board of Directors, on +44 207 440 5761 at
investors@millicom.com

Press: Julian Eccles, VP, Corporate Communications, on +44 7720 409374
at press@millicom.com

Investors: Nicolas Didio, Director of Investor Relations,+44 203 249 2220
at investors@millicom.com
About Millicom

Millicom is a leading international telecommunications and media company
dedicated to emerging markets in Latin America and Africa. Millicom sets the
pace when it comes to providing digital lifestyle services to the world’s
emerging markets, giving access to the world, primarily through mobile devices.
Operating in fourteen countries, primarily using the Tigo brand, Millicom offers
innovative and customer-centric products. Millicom employs more than 10,000
people and provides mobile, cable, broadband, TV content, online and financial
services to over 50 million customers. Founded in 1990, Millicom is
headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol
MIC. In 2013 Millicom generated revenue of $5.16 billion and EBITDA of $1.9
billion.