Millicom signs Memorandum of Understanding in Vietnam

Millicom signs Memorandum of Understanding in Vietnam New York, London and Luxembourg - February 4, 2004 - Millicom International Cellular S.A. ("Millicom") (Nasdaq: MICC) announces that its subsidiary, Comvik International Vietnam ("Comvik"), has signed a Memorandum of Understanding with its partners in Vietnam, VMS (a subsidiary of the Vietnam Posts and Telecommunications), to confirm their intention to extend the co-operation for the long term. The co-operation will comply with the prevailing legislation for telecommunication ventures in Vietnam at that time. Marc Beuls CEO commented "This Memorandum of Understanding confirms that our partners do wish to deepen the relationship between our two companies. Our co-operation through Comvik is seen as the most successful BCC in the telecommunications sector and this has been recognized by the recent Golden Dragon Award as the "Best Company in the field of Telecommunications" granted by the Vietnamese Ministry of Planning and Industry, showing the strong foundations for our future co-operation." 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. 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 382 million people. In addition, MIC provides high-speed wireless data services in five countries. CONTACTS: Marc Beuls President and Chief Executive 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: www.millicom.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/04/20040203BIT20940/wkr0001.pdf

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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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