Millicom International Cellular: Millicom wins G20 Challenge on Inclusive Business Innovation

  Millicom International Cellular: Millicom wins G20 Challenge on Inclusive
  Business Innovation

Business Wire

STOCKHOLM -- June 19, 2012

Millicom International Cellular S.A. (“Millicom”) (Stockholmsbörsen: MIC)
announced today that it is one of 15 winners in the G20 Challenge on Inclusive
Business Innovation. The Challenge seeks to recognize businesses with
innovative, scalable or replicable and commercially viable ways of working
with people living at the base of the pyramid in developing countries.

The G20 defines inclusive business models as those which help companies turn
under-served populations into dynamic consumer markets and diverse new sources
of supply.

Millicom has been recognized by the Challenge for making mobile telephony
affordable to even the lowest earners in developing countries by offering Tigo
branded voice and data services in small denominations and accessible to all
through its extensive distribution network of more than 680 thousand points of
sale. The recent introduction of Tigo mobile financial services in some
markets where Millicom operates has been identified as an enabler of financial
inclusion for the unbanked populations.

The Challenge winners were announced and presented with awards at the G20
Leaders Summit in Los Cabos, Mexico on June 18, 2012. “We look forward to
seeing the winners of the G20 Challenge thrive and learning more on how they
translated their successful models in different regions across the world, as
Millicom has shown by operating in several countries in Latin America and
Africa.” said Toshiya Masuoka, Director of IFC’s Inclusive Business Models
Group.

Mikael Grahne, President and CEO, commented:

“We are delighted to have been recognized through this award for our
innovation and our financial, environmental and social sustainability.
Operating in our markets presents us with opportunities as well as
responsibilities to the communities. As one of the largest foreign investors
and direct and indirect employers in our markets, but also through the
products we offer our customers, we can contribute positively to the economies
where we operate and to the lives of the millions of people who live there.”

About the G20 Challenge

The Group of 20 (G20) is the premier forum for international economic
development that promotes open and constructive discussion between industrial
and emerging market countries on key issues related to global economic
stability. www.g20.com

By recognizing businesses that have already succeeded in developing
innovative, scalable or replicable and commercially viable inclusive business
models, the G20 Challenge provides a global platform for all businesses to
learn from successful leaders in the growing field of inclusive business and
enables these leaders to come together and develop linkages with other
inclusive businesses. www.g20challenge.com

The G20 Challenge is being managed on behalf of the G20 by The International
Finance Corporation (IFC), a member of the World Bank Group, which helps
developing countries achieve sustainable growth by financing investment,
providing advisory services to businesses and governments and mobilizing
capital in the international financial markets. www.ifc.org

About Millicom

Millicom International Cellular S.A. (STO:MIC) is a global telecommunications
group with mobile telephony operations in 13 countries in Latin America and
Africa. It also operates various combinations of fixed telephony, cable and
broadband businesses in five countries in Central America. The Group’s mobile
operations have a combined population under license of approximately 270
million people.

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., and Millicom
International Cellular S.A. employees or representatives 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.

This information was brought to you by Cision http://www.cisionwire.com

Contact:

Millicom International Cellular S.A.
Chief Financial Officer
François-Xavier Roger
Tel: +352 27 759 327
or
Investor Relations
Justine Dimovic
Tel: +352 691 750 479
or
Emily Hunt
Tel: +44 7779 018 539
or
Visit our web site at www.millicom.com