Millicom agreement on disposal of Columbian operations

MILLICOM AGREEMENT ON DISPOSAL OF COLUMBIAN OPERATIONS New York, London and Luxembourg - December 27, 2002 - Millicom International Cellular S.A. ("Millicom") (Nasdaq: MICC), the global telecommunications investor, today announces that on December 24, 2002 it entered into a share purchase agreement with Comcel SA of Columbia and its parent company American Movil to sell Millicom's shares in its Columbian operations, Celcaribe SA, to Comcel SA. CONTACTS: Marc Beuls Telephone: +352 27 759 101 President and Chief Executive Officer Millicom International Cellular S.A., Luxembourg Jim Millstein Telephone: +1 212 632 6000 Peter Warner Telephone: +44 20 7588 2721 Lazard Andrew Best Telephone: +44 20 7321 5022 Investor Relations Shared Value Ltd, London Millicom is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has a total of 18 cellular operations and licenses in 17 countries. The Group's cellular operations have a combined population under license (excluding Tele2) of approximately 444 million people. Millicom also has a 7.0% interest in Tele2 AB, the leading alternative pan-European telecommunications company offering fixed and mobile telephony, data network and Internet services to over 16 million customers in 21 countries. Millicom's shares are traded on the Nasdaq Stock Market under the symbol MICC. Visit our web site at http://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/2002/12/27/20021227BIT00320/wkr0001.doc http://www.waymaker.net/bitonline/2002/12/27/20021227BIT00320/wkr0002.pdf