<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>mi1138005b.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>


                                                                    EXHIBIT 99.1

                                       MIC

                      MILLICOM INTERNATIONAL CELLULAR S.A.



FOR IMMEDIATE RELEASE
                                                               December 10, 2002


POSSIBLE DISPOSAL OF CERTAIN CELLULAR ASSETS AND

RETENTION OF LAZARD AS STRATEGIC ADVISOR

New York, London and Luxembourg - December 10, 2002 - Millicom International
Cellular S.A. ("Millicom") (Nasdaq: MICC), the global telecommunications
investor, today announces that it has entered into separate discussions with
third parties for the disposal of its cellular operations in The Philippines
(Extelcom) and Colombia (Celcaribe). There can be no assurance that either
transaction will occur.

Extelcom has continued to experience a number of difficult operational and
trading issues which have adversely impacted its financial performance. The
board of Millicom has therefore concluded that the most appropriate course of
action is to pursue a sale of Extelcom. Discussions with a potential buyer are
ongoing and it is currently anticipated that the sale of Extelcom will be made
for little consideration. It is expected that the sale of Extelcom will result
in Millicom incurring a book write-off of approximately US$50 million.

Separately, Millicom is in discussions with a third party regarding the
potential sale of Celcaribe. In the context of this transaction, the third party
potential purchaser is currently conducting due diligence of Celcaribe's
operations. It is currently anticipated that the sale of Celcaribe will result
in Millicom incurring a book write-off of approximately US$125 million.

Millicom also announces that it has retained Lazard to assist it in reviewing
strategic alternatives to address Millicom's ongoing liquidity needs, including
other potential asset sales and divestitures, the availability of new debt and
equity financing and potential debt restructuring alternatives.

Millicom has, directly or through its affiliates, repurchased from time to time
over the past year a portion of its outstanding debt securities at a discount
from par and may continue to do so in the future depending upon market
conditions and its other liquidity needs.


CONTACTS:

Marc Beuls                                Telephone:  +352 27 759 101
President and Chief Executive Officer
Millicom International Cellular S.A., Luxembourg



<PAGE>


Jim Millstein                             Telephone:  +1 212 632 6000
Peter Warner                              Telephone:  +44 20 7588 2721
Lazard


Andrew Best                               Telephone:  +44 20 7321 5022
Investor Relations
Shared Value Ltd, London


Millicom is a global telecommunications investor with cellular operations in
Asia, Latin America and Africa. It currently has a total of 18 cellular
operations and licenses in 17 countries. The Group's cellular operations have a
combined population under license (excluding Tele2) of approximately 444 million
people. Millicom also has a 8.0% interest in Tele2 AB, the leading alternative
pan-European telecommunications company offering fixed and mobile telephony,
data network and Internet services to over 16 million customers in 21 countries.
Millicom's shares are traded on the Nasdaq Stock Market under the symbol MICC.

Visit our web site at http://www.millicom.com



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