DIVIDEND POLICY

DIVIDEND POLICY

New York and Stockholm, 30 November 2009 - Millicom International Cellular S.A.
(“Millicom”) (Nasdaq Stock Market: MICC and Stockholmsbörsen: MIC) today
announces that the Board of Millicom is proposing to commence payment of a
regular annual dividend.

Under the proposed policy, the Board intends to recommend a dividend of not less
than 25% of annual net income (before exceptional items*), subject to a minimum
annual dividend of USD 1.20 per share.  The Board is recommending a dividend for
the 2008 year of USD 1.24, to be paid around 5 January 2010.  This payment is
subject to the approval of shareholders at an Extraordinary General Meeting to
be held on 18 December 2009.

Mikael Grahne, President and CEO of Millicom, said:

“After several years of significant investment and cash outflows, Millicom has
built a number of strong market positions through rapid revenue growth and
market share gains.  Over the last year, in a tough economic environment, we
have outperformed competition while becoming highly cash generative. Looking
ahead, we believe we will be able to deliver further growth through continued
investment, while paying a regular dividend to shareholders out of strong and
sustainable annual cash flow. This new policy reflects the confidence of the
Board and management in the future prospects of the business.

“We will provide a further update on our plans for capital deployment at the
time of our Q4 2009 earnings release on 10 February 2010.”

* Exceptional items may include, among other things, foreign exchange movements
on net debt, gains/losses on disposal of assets, and other items outside the
ordinary course of business

CONTACTS


Francois-Xavier Roger
Chief Financial Officer
Telephone:  +352 27 759 327

Peregrine Riviere
Head of External Communications
Telephone:  +352 691 750 098

Emily Hunt	
Investor Relations
Telephone:  +44 7879 426358

Millicom International Cellular S.A., Luxembourg

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


Millicom International Cellular S.A. is a global telecommunications group with
mobile telephony operations in 14 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 266 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.