MILLICOM INTERNATIONAL CELLULAR S.A. ANNOUNCES RESULTS FOR THE PERIOD ENDED DECEMBER 31, 2006

New York and Stockholm – February 14, 2007 – Millicom International Cellular S.A. (Nasdaq Stock Market: MICC and Stockholmsbörsen: MIC), the global telecommunications company, today announces results for the quarter and year ended December 31, 2006.

• Subscriber increase for Q4 of 99%, bringing total subscribers to 14.9m*
• 99% increase in revenues for Q4 to $544m (Q4 05: $273m) *
• 71% increase in EBITDAfor Q4 to $229m (Q4 05: $134m) *
• Profit before tax for Q4 of $99m (Q4 05: $76m) *
• Net Profit for Q4, including discontinued operations, of $50m (Q4 05: $16m)
• Basic earnings per common share for Q4 of $0.50 (Q4 05: $0.16)

• 71% increase in revenues for the full year to $1,576m (2005: $923m) *
• 64% increase in EBITDA for the full year to $717m (2005: $438m) *
• Profit before tax for the full year of $354m (2005: $171m) *
• Net Profit for the full year, including discontinued operations, of $169m (2005: $10m)
• Basic Earnings per common share of $1.68 for the year to Dec 2006 (2005: $0.10)

* Excludes discontinued operations

Chief Executive Officer’s Review

Marc Beuls, Chief Executive comments: “In the fourth quarter Millicom again delivered exceptional growth surpassing what was a record breaking third quarter. Fourth quarter revenues increased by 99% from Q4 2005 to $544m and EBITDA rose by 71% to $229m. In Q4, 3.7 million new subscribers were added, of which 1.9m came through the acquisition of Colombia Movil.

“The very high levels of subscriber intake, 7.4 million for the whole year, went in tandem with increased capex during 2006. Capex for the fourth quarter was $247 million giving a total of $616 million for the year, excluding Pakistan and other discontinued operations. This reflected strong investment in the networks in all our regions, but particularly in Colombia and the Democratic Republic of Congo. The progress made in building a new network in Congo allowed us to launch the Tigo brand this January, and with over 100,000 subscribers today, the first signs for the Congo business are encouraging. We have also launched Tigo in Sri Lanka and expect Tigo to be an important catalyst for this business too.

“Central and South America remain the key drivers of growth reflecting the success of Tigo in the second year after launch. In the fourth quarter, revenues in Central America were up 77% year on year and EBITDA was up 62%. In South America, excluding Colombia where we launched Tigo in November, underlying quarterly revenue growth was 80% and EBITDA growth was 109%. In Africa, with revenues and EBITDA up by 59% and 53%, respectively, we are already seeing the effect of the launch of Tigo and we believe that in the future our African businesses can achieve similar if not higher levels of growth than those we have enjoyed from Latin America. In the fourth quarter, we cleaned up the subscriber base in Tanzania which affected net subscriber intake for the quarter but helped increase ARPUs as these customers were inactive.

“Yesterday we completed the sale of Paktel for an enterprise value of $460 million. The number of subscribers for Pakistan was similar to that for Colombia and as such, the total number of subscribers at year-end has not been materially impacted. We believe our opportunity as the third operator in Colombia is a more attractive prospect and we expect to see Colombia Movil rise towards average group margins in the medium term. The current and prior year results have been presented to show the continuing businesses separately by segregating the discontinued operations. We have also merged the South Asia and South East Asia clusters into one Asian operation.”

CONFERENCE CALL DETAILS

A conference call to discuss the results will be held at 15.00 UK / 16.00 CET / 10.00 ET, on Wednesday, February 14, 2007. The dial-in numbers are: +44 (0)20 7806 1955, +46 (0)8 5352 6407 or +1 718 354 1388 and participants should quote Millicom International Cellular. A live audio stream of the conference call can also be accessed at www.millicom.com. Please dial in / log on 5 minutes prior to the start of the conference call to allow time for registration. A recording of the conference call will be available for 7 days after the conference call, commencing approximately 30 minutes after the live call has finished, on: +44 (0)20 7806 1970 / +46 (0)8 5876 9441 or +1 718 354 1112, access code: 6657480#.

Millicom International Cellular S.A. is a global telecommunications group with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Group’s cellular operations have a combined population under license of approximately 280 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.


CONTACTS:

Marc Beuls
President and Chief Executive Officer
Millicom International Cellular S.A., Luxembourg
Telephone: +352 27 759 327


David Sach
Chief Financial Officer
Millicom International Cellular S.A., Luxembourg
Telephone: +352 27 759 327


Andrew Best
Investor Relations
Shared Value Ltd, London
Telephone: +44 20 7321 5022

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


About Us

Millicom International Cellular S.A. is a global telecommunications group with mobile telephony operations in 14 countries in Latin America, Africa and Asia. 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 267 million people.

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