NEW YORK and BERTRANGE, Luxembourg, July 21, 2005 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen:MIC), announces that the reconvened extraordinary meeting of shareholders of Millicom was held on July 20, 2005 and passed a resolution in accordance with the requirements of article 100 of the Luxembourg law of August 10, 1915 on commercial companies, as amended, to the effect that Millicom's business shall continue despite it having incurred accumulated losses as of December 31, 2004 of more than 50% of its issued and outstanding share capital.
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has a total of 16 cellular operations and licenses in 15 countries. The Group's cellular operations have a combined population under license of approximately 332 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 members or persons 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.
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-0- Marc Beuls President and Chief Executive Officer Millicom International Cellular S.A., Luxembourg Telephone: +352 27 759 327 Andrew Best Investor Relations Telephone: +44 20 7321 5022