MILLICOM INTERNATIONAL CELLULAR S.A. ANNOUNCES RESULTS FOR THE PERIOD ENDED JUNE 30, 2005

· 21% increase in Revenues for Q2 05 to $261.4m (Q2 04: $215.2m)* · 14% increase in EBITDA for Q2 05 to $122.2m (Q2 04: $107.5m)* · Profit for Q2 05 of $4.9m (Q2 04: profit of $14.3m)(iv) · Basic Earnings per common share for Q2 05 of $0.05 (Q2 04 Earnings per share: $0.17) (iv) · 24% increase in Revenues for the first half of 2005 to $530.3m (2004: $428.3m)* · 16% increase in EBITDA for the first half of 2005 to $248.7m (2004: $214.1m)* · Loss for the first half of 2005 of $6.4m (2004: profit of $28.9m)(iv) · Basic Earnings / (Loss) per common share of ($0.06) for the first half of 2005 (2004: $0.38)(iv) New York, Stockholm and Luxembourg – July 25, 2005 – Millicom International Cellular S.A. (Nasdaq Stock Market: MICC, Stockholmsbörsen and Luxembourg Stock Exchange: MIC), the global telecommunications investor, today announces results for the quarter and six months ended June 30, 2005. Financial summary for the quarters ended June 30, 2005 and 2004* June 30 June 30 Change 2005 2004(iv) Worldwide subscribers (i) 5,836,160 4,421,185 32% - proportional 7,205,649 6,372,367 13% cellular (ii) - total cellular US$ ‘000 Revenues 261,381 215,215 21% Operating profit 122,230 107,521 14% before interest, taxes, depreciation and amortization, EBITDA(iii) EBITDA margin 47% 50% - Profit for the 4,877 14,323 - period(iv) Basic earnings 0.05 0.17 - per common share (US$)(iv) Diluted earnings 0.05 0.16 - per common share (US$)(iv) Weighted average 98,750 86,094 - number of shares (thousands) Weighted average number of shares 99,599 89,601 - and potential dilutive shares (thousands) (i) Subscriber figures represent the worldwide total number of subscribers of cellular systems in which Millicom has an ownership interest. Subscriber figures exclude divested operations. (ii) Proportional subscribers are calculated as the sum of Millicom’s percentage ownership of subscribers in each operation. (iii) EBITDA; operating profit before interest, taxation, depreciation and amortization, is derived by deducting cost of sales, sales and marketing costs, and general and administrative expenses from revenues (iv) Comparative information restated as a result of the adoption of IFRS 2, “Share-based Payment” * Figures exclude divested operations (and include Vietnam up to May 18th 2005), for financial results down to and including EBITDA Marc Beuls, Millicom’s President and Chief Executive Officer stated: “Millicom’s second quarter saw the end of our ten year BCC in Vietnam. As Vietnam represented a large part of Millicom’s results, we have produced a pro forma Profit and Loss statement excluding Vietnam and including our increased ownership in Honduras, in order to illustrate the ongoing position of the business. I am very pleased to say that these pro forma numbers showed revenue growth for Q2 2005 of 30% year on year and 7% quarter on quarter. EBITDA increased by 25% year on year and 11% quarter on quarter. These numbers show strong growth across Millicom’s operations, especially in Central America, which produced pro forma revenue growth of 12% from the first quarter of 2005. Central America is Millicom’s largest region, accounting for 36% of revenue and 38% of EBITDA for the year to date. In Pakistan, Paktel GSM is on schedule to reach the 1 million subscriber mark at the first anniversary of the launch of the GSM network and Paktel has established itself as a solid third operator in Pakistan. We are pleased with the launch of the Talya network in Tehran by RIC. This is the first step towards eventually obtaining ownership for Millicom in one of the most promising markets for mobile telephony. In Vietnam, the contacts continue with VMS/VNPT regarding a future cooperation but there is no indication of a potential deal yet.” “please see the attached document for the full press release”.