Millicom issues Swedish Krona bond

Stockholm, October 23, 2012 – Millicom International Cellular S.A. (“Millicom”)
(Stockholmsbörsen: MIC) today announces the placing of a 5-year bond in the
Swedish bond market.
Millicom has successfully completed the issuance in the Swedish bond market of a
5 year SEK2 billion bond, of which SEK1.75 billion has a floating rate coupon of
3 months STIBOR +3.50% and SEK0.25 billion has a fixed coupon of 5.125%.

Nordea Markets and SEB acted respectively as Joint Bookrunner and Coordinator
and Joint Bookrunner; DNB Markets acted as Lead Manager.

Millicom intends to use approximately EUR85 million (SEK730 million) of the
proceeds of the issued note to finance the investment in two subsidiaries of
Rocket Internet: Latin America Internet Holdings (LIH) and Africa Internet
Holdings (AIH). The remainder will be kept on the balance sheet for general
corporate purposes.
Contacts

Chief Financial Officer
François-Xavier Roger
Tel: +352 27 759 327

Investor Relations
Justine Dimovic
Tel: +352 27 759 479

Visit our web site at www.millicom.com
About Millicom

Millicom International Cellular S.A. 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 six countries in Latin America and online and e-commerce services in a number
of countries in Latin America and Africa. The Group’s mobile operations have a
combined population under license of approximately 273 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.