Millicom International Cellular: Nomination Committee Proposes Election of New Board Member

In advance of the Millicom International Cellular S.A. (“Millicom”) (NASDAQ:MICC) (STO:MIC) (Stockholmsbörsen: MIC) Annual General Meeting to be held on May 29, 2012, the Nomination Committee of Millicom, comprised of Cristina Stenbeck on behalf of Investment AB Kinnevik, Kerstin Stenberg on behalf of Swedbank Robur Funds and Allen Sangines-Krause in his capacity as Chairman of the Board of Directors of Millicom, proposes the re-election of Hans Holger Albrecht, Mia Brunell Livfors, Donna Cordner, Paul Donovan, Kim Ignatius and Omari Issa as Non-Executive Directors and Allen Sangines-Krause as Non-Executive Chairman of the Board of Directors. The Committee also proposes the election of Mr Dionisio Romero Paoletti as a new Non-Executive Director of the Company.

Mr Dionisio Romero Paoletti is Chairman and President of the Romero Group, a Peruvian business group founded in the late 1800s and today comprising numerous companies across a wide range of sectors from consumer products to textiles, logistics, infrastructure, trading and services. The Group also has a controlling interest in Credicorp (BAP), the largest financial conglomerate in Peru which is listed on the New York and Lima Stock Exchanges. Mr Romero Paoletti developed his executive career within several companies in the Romero Group and succeeded his father as Chairman of the Group in 2001. He has served as a Board Member of Credicorp and Banco De Credito del Peru since 2003 and as Chairman since 2009. A complete list of Mr Romero Paoletti’s directorships is available at www.millicom.com. He holds a bachelor’s degree in Economics from Brown University and a master’s degree in Business Administration from Stanford University.

Cristina Stenbeck, Chairman of the Nomination Committee, commented: "The Nomination Committee believes that Dionisio Romero Paoletti can offer Millicom valuable strategic guidance given his regional Latin American expertise and his leadership of a multi-generational family conglomerate, both as principal and Chairman. Romero Group spans a wide range of industries and includes businesses in the consumer goods and financial services sectors. As Millicom expands its range of value-added services across its markets and embarks on its next phase of growth, we are delighted to be able to nominate such a highly qualified individual for election to the Board."

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 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., any 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.

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