ANNUAL AND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

ANNUAL AND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

Stockholm, 31 May 2011 - Millicom International Cellular S.A.
(“Millicom”) (Stockholmsbörsen: MIC) today held its Annual General
Meeting ("AGM") and Extraordinary General Meeting (“EGM”) of
shareholders in Luxembourg.

The AGM resolved to allocate USD 60,719 of the USD 623,392,030 profit
generated in 2010 to the legal reserve in accordance with the
requirements of Luxembourg Law, and to distribute approximately USD
196,000,000 as a dividend, corresponding to a gross dividend amount of
USD 1.80 per share.

The AGM also resolved to set the number of Board Directors at seven and
to re-elect Ms Mia Brunell Livfors, Ms Donna Cordner, Mr Allen
Sangines-Krause, Mr Paul Donovan, Mr Hans Holger Albrecht and Mr Omari
Issa as Non-Executive Directors and to elect Mr Kim Ignatius as a new
Non-Executive Director of the Company. 

Mr Kim Ignatius, born 1956, is the CFO of Sanoma Corporation, the
European media group, which he joined in 2008.  Previously, Mr Ignatius
was EVP and CFO of TeliaSonera AB between 2003 and 2008 and EVP and CFO
of Sonera Oyj between 2000 and 2002.  Before joining Sonera, Ignatius
was Group CFO and a member of the Executive Board of Tamro Oyj, a
leading pharmaceutical distributor listed on the Helsinki Stock
Exchange, between 1997 and 2000.  From 1984 to 1996 he worked for Amer
Group in a variety of finance and general management roles in both North
America and Europe.  He started his career with Oy Hanke-Palsbo Ab and
Fruehauf Corporation in a series of finance roles.  Mr Ignatius
graduated with a B.Sc Economics from the Aalto University School of
Economics in Helsinki.  He is a Finnish national.   

Mr Ignatius qualifies as Independent of major shareholders and of the
Company and its management as defined in the Swedish Code of Corporate
Governance.

PricewaterhouseCoopers Sàrl was re-elected as external Auditor.

The AGM also resolved to approve a Share Repurchase Plan and to
authorise the Board of Directors of Millicom, with the option to
delegate, to acquire and dispose of Millicom's shares in accordance with
the criteria set out in the Convening Notice for the meeting.

All other resolutions proposed to Millicom's AGM of shareholders today
in Luxembourg were passed.

The EGM resolved to reduce the issued share capital of Millicom by an
amount of USD 6,300,000, so as to bring the issued share capital to USD
157,407,373.50, by way of cancellation of 4,200,000 shares having a par
value of USD 1.50 each, fully paid-in and held by Millicom in its issued
share capital.   

The EGM also resolved to amend certain Articles of the Articles of
Association of Millicom, as set out in the Convening Notice for the
meeting, so as to comply with the Swedish Code of Corporate Governance. 

All other resolutions proposed to Millicom's EGM of shareholders today
in Luxembourg were passed.

Millicom Chairman, Mr Allen Sangines-Krause commented: “On behalf of the
Board and the management team of Millicom, I would like to thank
outgoing Board members, Mr Daniel Johannesson and Mr Michel Massart for
their valuable contributions to the oversight of Millicom since 2003. 
Under the dedicated stewardship of Mr Johnannesson, who served as
Chairman of the Board from 2004 to 2010 and then as Vice Chairman,
Millicom has grown to become a major force in emerging markets mobile
telecoms.  Mr Massart was Chairman of the Audit Committee for the
duration of his eight years of service on the Board, contributing a
wealth of expertise and dedication.

“I am delighted to welcome new Board member Mr Kim Ignatius, who is
proposed by the Nominations Committee to become the new Chairman of the
Audit Committee.   Mr Ignatius brings tremendous experience from both
the telecommunications and media sectors through his work at TeliaSonera
and Sanoma and I have no doubt that his expertise will be instrumental
to Millicom in the future.”

CONTACTS

Millicom International Cellular SA
Allen
Sangines-Krause                                                         
      Telephone:  +352 27 759 327
Chairman of the Board of Directors

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

Emily
Hunt                                                                    
            Telephone:  +44 7779 018 539
Investor Relations

Visit our website at www.millicom.com (http://www.millicom.com/)