Millicom international cellular s.a. announces completion of sale of colombian operations

MILLICOM INTERNATIONAL CELLULAR S.A. ANNOUNCES COMPLETION OF SALE OF COLOMBIAN OPERATIONS New York, London and Luxembourg - February 13, 2003 - Millicom International Cellular S.A. ("Millicom") (Nasdaq: MICC), the global telecommunications investor, today announces it has successfully completed the sale of its Colombian operation, Celcaribe S.A., to Comcel S.A., a subsidiary of America Movil. The net proceeds for Millicom's interest in the equity of Celcaribe S.A. are USD 9,625,000, which have been paid on completion. 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 17 cellular operations and licenses in 16 countries. Millicom's cellular operations have a combined population under license (excluding Tele2) of approximately 369 million people. In addition, Millicom provides high-speed wireless data services in seven countries. Millicom also has a 6.8% 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. 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. Lazard is acting for Millicom International Cellular S.A. in connection with the exchange offer and consent solicitation and no-one else and will not be responsible to anyone other than Millicom International Cellular S.A. for providing the protections offered to clients of Lazard nor for providing advice in relation to the exchange offer or consent solicitation. 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 Lazard, New York Peter Warner Telephone: +44 20 7588 2721 Daniel Bordessa Cyrus Kapadia Lazard, London Andrew Best Telephone: +44 20 7321 5022 Investor Relations Shared Value Ltd, London 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/2003/02/13/20030213BIT00990/wkr0001.doc http://www.waymaker.net/bitonline/2003/02/13/20030213BIT00990/wkr0002.pdf