CREATION OF A NEW TOWER COMPANY IN TANZANIA

CREATION OF A NEW TOWER COMPANY IN TANZANIA

New York and Stockholm, 3 December 2010 - Millicom International
Cellular S.A. (“Millicom”) (Nasdaq Stock Market: MICC and
Stockholmsbörsen: MIC) today announces that its subsidiary, Millicom
Tanzania Limited (“Tigo Tanzania”), has agreed to sell approximately
1,020 towers to Helios Towers Tanzania (“HTT”), a direct subsidiary of
Helios Towers Africa (“HTA”).  As a result of the transaction, Tigo
Tanzania will receive at least $80 million of cash up front and will
retain a significant minority interest in HTT.

Additionally, Tigo Tanzania and HTT will enter into a long term leasing
agreement at closing whereby HTT will provide Tigo Tanzania with access
to wireless communications towers and a build-to-suit agreement to
support the company's wireless network expansions.  HTT will seek
similar agreements with other operators in Tanzania.  The transaction is
expected to create savings in both capital and operating expenditure for
Tigo Tanzania.

Mikael Grahne, President and CEO of Millicom, said: “Millicom created
the first tower joint-venture in Africa with Helios in January 2010. The
initial results proved very satisfactory, with an improved service level
and a reduction in both capex and operating expenses. Millicom is now
happy to enter into a similar agreement with Helios in Tanzania.  This
agreement confirms our commitment to outsourcing passive infrastructure,
and is entirely consistent with our strategy of improving both our
capital and operating efficiency by focusing on our core activities. We
believe that owning and operating our entire network infrastructure no
longer confer a competitive advantage, and we consider that such
outsourcing ventures will allow Millicom to focus on areas of genuine
differentiation: sales, marketing, branding, distribution, service
innovation and customer care.”

Charles Green, CEO of HTA, said: “The latest transaction with Millicom
in Tanzania reinforces HTA's position as the leading independent tower
company in Africa. HTT enables Tanzanian wireless operators to outsource
non-core tower-related activities and focus capital and management
resources on providing higher quality services more cost-effectively. We
are very excited about extending to Tigo Tanzania our successful
partnership formed in the landmark transaction completed earlier this
year with Tigo Ghana, providing scale and coverage of virtually all of
Tanzania's significant population centers. We are pleased to enter into
such an innovative arrangement with Millicom, which ensures that HTT
has, as an anchor tenant on each of its towers, a high quality operator
with a demonstrated long-term commitment to the development of wireless
services in Tanzania." 

The specific number of towers and final purchase price will be
determined once the various closings have taken place.  First closing of
the transaction, subject to customary closing conditions, is expected to
occur in Q2 2011. 

CONTACTS
François-Xavier Roger
Chief Financial Officer 
Telephone:  +352 27 759 327
Emily Hunt       
Investor Relations
Telephone:  +44 7779 018539 /+44 207 321 5038
Millicom International Cellular S.A., Luxembourg
Visit our web site at http://www.millicom.com (http://www.millicom.com/)