RESULTS FOR THE PERIOD ENDED MARCH 31, 2009

RESULTS FOR THE PERIOD ENDED MARCH 31, 2009

Key figures

 29% increase in subscribers** for Q1 09 versus Q1 08, bringing total
subscribers to 33.6 million*
 6% increase in revenues for Q1 09 to $846* million (Q1 08: $799 million*)
 11% increase in EBITDA for Q1 09 to $376* million (Q1 08: $338 million*)
 EBITDA margin of 44.5% (+219 basis points vs Q1 08)
 Net profit for Q1 09 of $140 million (Q1 08: $158 million)
 Basic earnings per common share for Q1 09 of $1.29 (Q1 08: $1.48)
 Free cash flow of $48 million in Q1 09 (Q1 08: $18 million)
 Capex forecast for 2009 of $850 million
 Strategic review of Asian assets

** Excludes Amnet
* Excludes discontinued operations  (Sierra Leone) 


Mikael Grahne, the newly appointed CEO of Millicom, commented: "We continued to
show strong management control in Q1 09, delivering improvements in key areas. 
In the financial area, we firstly achieved a strong margin of 44.5% as the
result of cost controls and favorable product mix.   Secondly, free cash flow
for Q1 09 was positive at $48 million representing 6% of revenues.  In Q1 09 we
were also successful in raising close to $200 million of debt financing.

“In the operational area, there were three key improvements.  Firstly, revenues
from Value Added Services (VAS) were up by 45% for Q1 09 versus Q1 08 in local
currency.  Secondly, pre-paid churn was down by 0.6 percentage points for the
Group from Q4 08. Thirdly, our market share was up by 1% in both Central America
and Africa and, on a weighted basis at group level, our market share was stable.

“These key indicators give us confidence in the outlook despite the unfavorable
economic environment.  Across our markets we have seen deterioration in the
environment which has led to some changes in consumer behaviour. We are
responding with continued innovation around revenue generation, cost
optimization and affordability. Revenues for the group grew by 9% in local
currency although the overall results have been impacted by foreign exchange
movements. 

“We have taken the decision to carry out a strategic review of our Asian assets,
which could lead to a full or partial divestment of our business in the region.

“Despite the adverse economic environment, we continue to be confident in the
medium and long term prospects for Millicom.  With overall penetration in our
markets of some 41%, there is a substantial growth opportunity and by being an
innovative, cost efficient operator, we believe we will continue to outperform
our competitors over time.  We are on target to maintain our current EBITDA
margin for 2009, we are on track to be free cash flow positive for the first
time in 2009 and we have revised our capex forecast to approximately $850
million for the full year.”


Note: For tabular financial information and the full text of the statement,
please refer to the attached PDF or the Millicom website: www.millicom.com


Conference call details

A conference call to discuss the results will be held at 14.00 London / 15.00
Stockholm / 09.00 New York, on Tuesday, April 21, 2009.  The dial-in numbers
are: +44 (0)20 7136 2050, +46 (0)8 5352 6439 or +1 212 444 0481 and the pass
code is 2744976#.  Please go to our website at www.millicom.com for a copy of
the slides to be discussed during the call. A live audio stream of the
conference call can also be accessed at www.millicom.com.  Please dial in / log
on 5 minutes prior to the start of the conference call to allow time for
registration.  A recording of the conference call will be available for 7 days
after the conference call, commencing approximately 30 minutes after the live
call has finished, on: +44 (0)20 7806 1970 / +46 (0)8 5876 9441 or +1 718 354
1112, access code: 2744976#.



CONTACTS

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

Francois-Xavier Roger
Chief Financial Officer
Millicom International Cellular S.A., Luxembourg
Telephone:  +352 27 759 327

Andrew Best
Investor Relations
Shared Value Ltd, London
Telephone:  +44 (0)7798 576378

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

Millicom International Cellular S.A. is a global telecommunications group with
mobile telephony operations in 16 countries in Asia, Latin America and Africa.
It also operates cable and broadband businesses in five countries in Central
America.  The Group's mobile operations have a combined population under license
of approximately 284 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.