Nasdaq listing and detailed results for the quarter and nine months ended september 30, 2002

NASDAQ LISTING AND DETAILED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2002 New York, London and Luxembourg - January 21, 2003 - Millicom International Cellular S.A. ("Millicom") (Nasdaq: MICC), the global telecommunications investor, today announces that it has received written confirmation from The Nasdaq Stock Market, Inc. that Millicom would be delisted from the Nasdaq National Market unless its equity was raised to at least $10 million or it were able to maintain its minimum bid price per share at $3 for a period of ten consecutive trading days on or before February 17, 2003. Millicom also announces today a more detailed version of its results for the quarter and nine months ended September 30, 2002, previously announced on October 23, 2002. 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 Shared Value Ltd, London Visit Millicom's homepage 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/2003/01/21/20030121BIT00590/wkr0001.doc The Full Report http://www.waymaker.net/bitonline/2003/01/21/20030121BIT00590/wkr0002.pdf The Full Report