Millicom International Cellular S.A. Redemption Notice

MILLICOM INTERNATIONAL CELLULAR S.A. societe anonyme

Registered office address:

15, rue Leon Laval L-3372 Leudelange, Grand-Duchy of Luxembourg

- R.C.S. Luxembourg: B 40.630 -

N O T I C E

NEW YORK and STOCKHOLM, Sweden, Oct. 19, 2010 (GLOBE NEWSWIRE) -- IS HEREBY GIVEN that Millicom International Cellular S.A. ("Millicom") intends to redeem the 10% Senior Notes due 2013, originally amounting to $550,000,000, on December 1, 2010 ("the Redemption Date"). Part of the original senior notes has previously been retired.

The Company has notified the Luxembourg Stock Exchange of its intention and obtained all necessary validations. 

On December 1, 2010, the amount to be paid to the Bondholders through the Paying Agent, Bank of New York, will be $490,226,598.62 which comprises $459,586,000 for the principal, $22,979,300 for interest and $7,661,299 for the early redemption penalty (1.667%).

CONTACTS
Francois-Xavier Roger	Telephone: [phone]
Chief Financial Officer
Emily Hunt	Telephone: [phone]
Investor Relations
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.

The Millicom International Cellular S.A. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7950

http://media.globenewswire.com/cache/13184/file/8980.pdf

CONTACT:  Millicom International Cellular S.A., Luxembourg
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