-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SAVgqGw7vhObGT3xXvV5jtR6OZm/pkGS/aa4m6+nnrWviH/T8wXbeob/8eiOwANh
 8BtJRxLL9yu4psBT33XAMA==

<SEC-DOCUMENT>0000950103-05-001818.txt : 20050803
<SEC-HEADER>0000950103-05-001818.hdr.sgml : 20050803
<ACCEPTANCE-DATETIME>20050803083221
ACCESSION NUMBER:		0000950103-05-001818
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050802
FILED AS OF DATE:		20050803
DATE AS OF CHANGE:		20050803

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILLICOM INTERNATIONAL CELLULAR SA
		CENTRAL INDEX KEY:			0000912958
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO TELEPHONE COMMUNICATIONS [4812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22828
		FILM NUMBER:		05993821

	BUSINESS ADDRESS:	
		STREET 1:		75 ROUTE DE LONGWY
		STREET 2:		BOX 23 BERTRANGE
		CITY:			GRAND DUCHY OF LUXEN
		STATE:			N4
		ZIP:			L8080
		BUSINESS PHONE:		3524571451
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>aug0205_6k.htm
<TEXT>
<html>
<head>
<title></title>
</head>
<body leftmargin="25p" marginwidth="25p">
<hr align="center" width="100%" size="4" noshade color="#000000" style="margin-top: -2px">
<hr align="center" width="100%" size="1" noshade color="#000000" style="margin-top: -10px">
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="3"><b>FORM 6-K<br>
  <br>
</b></font></p>
<div align="center"><font face="Times New Roman, Times, serif" size="3"><b>SECURITIES AND EXCHANGE COMMISSION<br>
  Washington, D.C. 20549</b></font>
  <br>
</div>
<p align="center"><font face="Times New Roman, Times, serif" size="3"><b>Report of Foreign Issuer</b></font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to Rule 13a-16
      or 15d-16 of<br>
the Securities
      Exchange Act of 1934</b></font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="3">For August
    2, 2005</FONT></p>
<p align="center"><font face="Times New Roman, Times, serif" size="3">Commission File Number: 000-22828</font></p>

    <div align="center"><font size="3" face="Times New Roman, Times, serif"><B>MILLICOM INTERNATIONAL</B></font></div>

    <div align="center"><B><font size="3" face="Times New Roman, Times, serif">CELLULAR S.A.</font></B></div>

    <div align="center"><b><font size="3" face="Times New Roman, Times, serif">75 Route de Longwy</font></b></div>

    <div align="center"><b><font size="3" face="Times New Roman, Times, serif">Box 23, L-8080 Bertrange</font></b></div>

    <div align="center"><b><font size="3" face="Times New Roman, Times, serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grand-Duchy of Luxembourg&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></font></b></div>
        <div align="center"><font face="Times New Roman, Times, serif" size="2">(Address of principal executive offices)</font>
    </div>
    <blockquote>
      <blockquote>
        <blockquote>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
                    by check mark whether the registrant files or will file annual reports
                under cover of Form 20-F or Form 40-F.</font></p>
        </blockquote>
      </blockquote>
    </blockquote>
<div align=center>
  <table width="60%" border=0 cellpadding=0 cellspacing=0>
        <tr align="center">
          <td width="30%" align="right" valign="top"><font size="3" face="Times New Roman, Times, serif">Form
              20-F <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u> </font></td>
          <td width="40%" align="left" valign="top">&nbsp;</TD>
          <td width="30%" align="left" valign="top"><font size="3" face="Times New Roman, Times, serif">Form
              40-F <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></TD>
        </tr>
  </table>
</div>
<blockquote>
  <blockquote>
        <blockquote>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
                by check mark if the registrant is submitting the Form 6-K in paper as permitted
            by Regulation S-T Rule 101(b)(1): ___</font></p>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
          by check mark if the registrant is submitting the Form 6-K in paper as permitted
      by Regulation S-T Rule 101(b)(7): ___</font></p>
          <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
          by check mark whether the registrant by furnishing the information contained
          in this Form is also thereby furnishing the information to the Commission
      pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font>
          </p>
    </blockquote>
  </blockquote>
</blockquote>
<div align=center>
  <table width="60%" border=0 cellpadding=0 cellspacing=0>
    <tr align="center">
      <td width="25%" align="right" valign="top"><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></TD>
      <td width="50%" align="left" valign="top">&nbsp;</TD>
      <td width="25%" align="left" valign="top"><font size="3" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></TD>
    </tr>
  </table>
</div>
<blockquote>
  <blockquote>
    <blockquote>
      <p><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If &#147;Yes&#148; is
                  marked, indicate below the file number assigned to the registrant
          in connection with Rule 12g3-2(b): 82- ____________</font><font size="2" face="Times New Roman, Times, serif"><br>
        <br>
      </font></p>
    </blockquote>
  </blockquote>
</blockquote>
<hr align="center" width="100%" size="1" noshade color="#000000" style="margin-top: -2px">
<hr align="center" width="100%" size="4" noshade color="#000000" style="margin-top: -10px">
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<br>
<br>
<p align="center"><font face="Times New Roman, Times, serif" size="2">MILLICOM INTERNATIONAL CELLULAR S.A.</font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">INDEX TO EXHIBITS</font></p>
<p><font face="Times New Roman, Times, serif" size="2"><u>Items</u></font></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
        <TD width="4%" valign=top nowrap>
<FONT face="serif" size=2>1.</FONT></TD>
        <TD width="96%">
<FONT face="serif" size=2>Press release dated August 2, 2005</FONT></TD>
</TR>
</TABLE>
<P>
<FONT face="serif" size=2>The information contained in this report is incorporated by reference into Registration Statement No. 333-111779.</FONT><FONT SIZE="2"><BR>
</FONT></P>


<hr width="100%" size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<br>
<br>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><u>SIGNATURES<br>
</u></font></p>
<p><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the requirements of the Securities Exchange Act of 1934, the Registrant
    has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</font></p>
<div align="right">
  <table width="100%" border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td width="62%">&nbsp;</td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font><font size="2" face="Times New Roman, Times, serif">MILLICOM
        INTERNATIONAL CELLULAR S.A.</font></td>
    </tr>
    <tr>
      <td width="62%" height="23"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td align="center">&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">Date: August 3,
      2005</font></td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">By:&nbsp;/s/
          Bruno Nieuwland</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="center"><hr align="left" width=75% size=1 noshade color="#000000"></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Bruno
          Nieuwland</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
      <td><font size="2">Chief Financial Controller</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="left">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="left">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td colspan="2" align="left"><font size="2" face="Times New Roman, Times, serif">By:&nbsp;</font><font size="2" face="Times New Roman, Times, serif">/s/
          Marc Beuls</font></td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td colspan="2" align="center"><hr align="left" width=75% size=1 noshade color="#000000"></td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
      <td align="left"><font size="2" face="Times New Roman, Times, serif">Marc
          Beuls</font></td>
    </tr>
    <tr>
      <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
      <td><font size="2">President and Chief Executive Officer</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
    </tr>
  </table>
</div>

<hr width="100%" size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<br>
<br>

<div align="center"><IMG src="millicom.jpg" border=0>
  <BR>
</div>
<P align="center">
<B><FONT size=5 face="serif">MILLICOM INTERNATIONAL CELLULAR S.A.</FONT></B></P>
<P align="right">
<B><FONT size=2 face="serif">August 2, 2005</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">MILLICOM INTERNATIONAL CELLULAR S.A. ANNOUNCES RESULTS <br>
FOR THE PERIOD ENDED JUNE 30, 2005 </FONT></B></P>
<UL>
<LI>
<B><FONT size=2 face="serif">21% increase in Revenues for Q2 05 to $261.4m (Q2 04: $216.0m)</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Profit for Q2 05 of $4.9m (Q2 04: profit of $14.3m) </FONT></B><B><SUP><FONT size=2 face="serif">(iii)</FONT></SUP></B></LI>
<LI>
<B><FONT size=2 face="serif">Basic Earnings per common share for Q2 05 of $0.05 (Q2 04 Earnings per share: $0.17) </FONT></B><B><SUP><FONT size=2 face="serif">(iii)
</FONT></SUP></B><br>
<br>
</LI>
<LI>
<B><FONT size=2 face="serif">23% increase in Revenues for the first half of 2005 to $530.3m (2004: $429.9m)</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Loss for the first half of 2005 of $6.4m (2004: profit of $28.9m) </FONT></B><B><SUP><FONT size=2 face="serif">(iii)</FONT></SUP></B></LI>
<LI>
<B><FONT size=2 face="serif">Basic Earnings / (Loss) per common share of ($0.06) for the first half of 2005 (2004: $0.38) </FONT></B><B><SUP><FONT size=2 face="serif">(iii)</FONT></SUP></B></LI>
</UL>
<P align="left">
<FONT size=2 face="serif">New York, Stockholm and Luxembourg &#150; July 25, 2005 &#150; Millicom International Cellular S.A. (Nasdaq Stock Market: MICC, Stockholmsb&ouml;rsen and Luxembourg Stock Exchange: MIC), the global telecommunications
investor, announced results for the quarter and six months ended June 30, 2005. </FONT></P>
<P align="center">
<FONT size=2 face="serif">Financial summary for the quarters ended June 30, 2005 and 2004 </FONT></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
        <TD width=4% align=left>

          <h5>&nbsp;</h5></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=56% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% rowspan="2" align=right valign="top">
<B><FONT size=2 face="serif">June 30</FONT></B><br>
<B><FONT size=2 face="serif">2005</FONT></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% rowspan="2" align=right valign="top">
<B><FONT size=2 face="serif">June 30</FONT></B><br>
<B><FONT size=2 face="serif">2004</FONT></B><B><SUP><FONT size=2 face="serif">(iii)</FONT></SUP></B>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% rowspan="2" align=right valign="top">
<B><FONT size=2 face="serif">Change<br>
</FONT></B>
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left>

          <h5>&nbsp;</h5></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=56% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>
          <h5><b><font size=2 face="serif">Worldwide subscribers </font></b><b><sup><font size=2 face="serif">(i)</font></sup></b></h5>   </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left>
      <h5><FONT size=2 face="serif">-</FONT>
          </h5></TD>
        <TD colspan="2">
<FONT size=2 face="serif">proportional cellular </FONT><SUP><FONT size=2 face="serif">(ii)</FONT></SUP></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">5,836,160</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">4,421,185</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">32%</FONT>
        </TD>
        <TD width=2% align=left>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left>
      <h5><FONT size=2 face="serif">-</FONT>
          </h5></TD>
        <TD colspan="2">
      <FONT size=2 face="serif">total cellular</FONT></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">7,205,649</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">6,372,367</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">13%</FONT>
        </TD>
        <TD width=2% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="4%">
          <h5>&nbsp;</h5></TD>
        <TD width="2%">
        </TD>
        <TD width="56%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="10%"><HR noshade size=2>
        </TD>
        <TD width="2%"><HR noshade size=2>
        </TD>
        <TD width="10%">
<HR noshade size=2>
        </TD>
        <TD width="2%"><HR noshade size=2>
        </TD>
        <TD width="10%">
<HR noshade size=2>
        </TD>
        <TD width="2%">&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>
      <B><U><FONT size=2 face="serif">US$ &#145;000</FONT></U></B></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
    <TD colspan=3 align=left><B><FONT size=2 face="serif">Revenues</FONT></B></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">261,381</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">216,049</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">21%</FONT>
        </TD>
        <TD width=2% align=left>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 face="serif">Operating profit</font></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">51,451</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">58,574</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">-12%</FONT>
        </TD>
        <TD width=2% align=left>&nbsp;
        </TD>
</TR>
<TR>
        <TD width="4%">
          <h5>&nbsp;</h5></TD>
        <TD width="2%"></TD>
        <TD width="56%"></TD>
        <TD width="2%">
        </TD>
        <TD width="10%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="10%">
<HR noshade size=1>
        </TD>
        <TD width="2%"><HR noshade size=1>
        </TD>
        <TD width="10%">
<HR noshade size=1>
        </TD>
        <TD width="2%">&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 face="serif">Profit for the period </font></b><b><sup><font size=2 face="serif">(iii)</font></sup></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">4,877</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">14,323</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR>
        <TD width="4%">
    </TD>
        <TD width="2%"></TD>
        <TD width="56%"></TD>
        <TD width="2%">
        </TD>
        <TD width="10%">
      <HR noshade size=2>       </TD>
        <TD width="2%"><HR noshade size=2>
        </TD>
        <TD width="10%">
<HR noshade size=2>
        </TD>
        <TD width="2%"><HR noshade size=2>
        </TD>
        <TD width="10%">
<HR noshade size=2>
        </TD>
        <TD width="2%">&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 face="serif">Basic earnings per common share (US$) </font></b><b><sup><font size=2 face="serif">(iii)</font></sup></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">0.05</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">0.17</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 face="serif">Diluted earnings per common share (US$)</font></b><b><sup><font size=2 face="serif">(iii)</font></sup></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">0.05</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">0.16</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR>
  <TD>
    </TD>
  <TD></TD>
  <TD></TD>
  <TD> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD><HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD><HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>&nbsp; </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 face="serif">Weighted average number of shares (thousands)</font></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">98,750</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">86,094</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<B><FONT size=2 face="serif">-</FONT></B>
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR>
  <TD>
    <h5>&nbsp;</h5></TD>
  <TD></TD>
  <TD></TD>
  <TD> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD><HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD><HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>&nbsp; </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><b><font size=2 face="serif">Weighted average number of shares and</font></b></TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=left>

        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left><h5><b><font size=2 face="serif">potential dilutive shares (thousands)</font></b></h5> </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">99,599</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<FONT size=2 face="serif">89,601</FONT>
        </TD>
        <TD width=2%>&nbsp;
        </TD>
        <TD width=10% align=right>
<B><FONT size=2 face="serif">-</FONT></B>
        </TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR>
  <TD>
    <h5>&nbsp;</h5></TD>
  <TD></TD>
  <TD></TD>
  <TD> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD><HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD><HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>&nbsp; </TD>
</TR>
</TABLE>
<BR>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=1 face="serif">(i)</FONT></I>&nbsp; &nbsp; &nbsp;         </TD>
        <TD width="95%">
<I><FONT size=1 face="serif">Subscriber figures represent the worldwide total number of subscribers of cellular systems in which Millicom has an ownership interest.</FONT></I> </TD>
</TR>
<TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=1 face="serif">(ii)</FONT></I>&nbsp; &nbsp; &nbsp;        </TD>
        <TD width="95%">
<I><FONT size=1 face="serif">Proportional subscribers are calculated as the sum of Millicom&#146;s percentage ownership of subscribers in each operation.</FONT></I>    </TD>
</TR>
<TR>
        <TD width="5%" valign=top nowrap>
<I><FONT size=1 face="serif">(iii)</FONT></I>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width="95%">
<I><FONT size=1 face="serif">Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148;</FONT></I> </TD>
</TR>
</TABLE>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P>
<FONT size=2 face="serif">Marc Beuls, Millicom&#146;s President and Chief Executive Officer stated:</FONT></P>
<P>
<FONT size=2 face="serif">&#147;Millicom&#146;s second quarter saw the end of our ten year BCC in Vietnam. Central America is Millicom&#146;s largest region, accounting for 36% of revenue for the year to date. In Pakistan, Paktel GSM is on schedule
to reach the 1 million subscriber mark at the first anniversary of the launch of the GSM network and Paktel has established itself as a solid third operator in Pakistan. We are pleased with the launch of the Talya network in Tehran by RIC. This is
the first step towards eventually obtaining ownership for Millicom in one of the most promising markets for mobile telephony.  In Vietnam, the contacts continue with VMS/VNPT regarding a future cooperation but there is no indication of a potential
deal yet.&#148; </FONT></P>
<P align="center">
<B><U><FONT size=2 face="serif">FINANCIAL AND OPERATING SUMMARY</FONT></U></B></P>
<table width="95%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">&#8226;</td>
    <td colspan="2"> <FONT size=2 face="serif">Subscriber growth:</FONT></td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">An annual increase in total cellular subscribers of 13% to 7,205,649, as at June 30, 2005</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">An annual increase in proportional cellular subscribers of 32% to 5,836,160, as at June 30, 2005</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">Proportional prepaid subscribers increased by 39% to 5,439,224 as at June 30, 2005 from 3,915,886 as</FONT> <FONT size=2 face="serif">at June 30, 2004</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">At July 22, 2005, managed subscribers in Iran amounted to 194,713</FONT></td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&#8226;</td>
    <td colspan="2"> <FONT size=2 face="serif">Financial highlights:</FONT></td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">Revenues for the second quarter of 2005 were $261.4 million, an increase of 21% from the second</FONT> <FONT size=2 face="serif">quarter of 2004.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">Profit for the second quarter of 2005 was $4.9 million, compared to a profit of $14.3 million for the</FONT> <FONT size=2 face="serif">second quarter of 2004.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">Net debt excluding the 5% mandatory exchangeable notes amounts to $266.8 million.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">Cash and cash equivalents as of June 30, 2005 amounted to $620.4 million.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&#8250;</td>
    <td> <FONT size=2 face="serif">Capex was $43.2m for the second quarter and $93.1m for the six months ended June 30, 2005.</FONT></td>
  </tr>
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&#8226;</td>
    <td colspan="2"> <FONT size=2 face="serif">Total cellular minutes increased by 37% for the three months ended June 30, 2005 from the same quarter in</FONT> <FONT size=2 face="serif">2004 and prepaid minutes increased by 48% in the same period.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&#8226;</td>
    <td colspan="2"> <FONT size=2 face="serif">On April 18, 2005, Millicom&#146;s subsidiary Pakcom reached an agreement with the Pakistan</FONT> <FONT size=2 face="serif">Telecommunications Authority (PTA) for the renewal of its license for 15 years. The payment terms are</FONT> <FONT size=2 face="serif">similar to the terms agreed in 2004 by Paktel, Millicom&#146;s other subsidiary in Pakistan. Pakcom will pay a</FONT> <FONT size=2 face="serif">license fee of $291 million, with 50% payable over three years and the remaining 50% payable over the</FONT> <FONT size=2 face="serif">following ten years. The first down payment for the license was made on April 18, 2005. Pakcom has</FONT> <FONT size=2 face="serif">reached agreement with the PTA with regard to the allocation of spectrum.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&#8226;</td>
    <td colspan="2"> <FONT size=2 face="serif">On May 25, 2005, Rafsanjan Industrial Complex (&#147;RIC&#148;) launched GSM services in greater Tehran.</FONT> <FONT size=2 face="serif">Millicom manages the network for 2 million prepaid customers on behalf of RIC.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">&#8226;</td>
    <td colspan="2"> <FONT size=2 face="serif">On May 26, 2005 Millicom acquired additional shares in its joint venture Celtel in Honduras, bringing its</FONT> <FONT size=2 face="serif">ownership to two thirds of the total outstanding shares. Due to the presence of joint control, Celtel</FONT> <FONT size=2 face="serif">continues to be accounted for as a joint venture using proportional consolidation.</FONT></td>
  </tr>
</table>
<P align="right"><FONT size=2 face="serif">2</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>



<P align="center">
<B><U><FONT size=2 face="serif">REVIEW OF OPERATIONS</FONT></U></B></P>
<P align="center">
<B><U><FONT size=2 face="serif">SUBSCRIBER GROWTH</FONT></U></B></P>
<P>
<FONT size=2 face="serif">Compared with the reported figures for the first quarter of 2005, total subscribers decreased by 1,335,946 and proportional subscribers decreased by 123,930 in the second quarter, due to the end of the BCC in
Vietnam.</FONT></P>
<P>
<FONT size=2 face="serif">At June 30, 2005, Millicom&#146;s total cellular subscriber base increased by 13% to 7,205,649 cellular subscribers from 6,372,367 as at June 30, 2004. Particularly significant percentage increases were recorded in Pakistan
by Paktel (162%), Laos (104%), Senegal (81%) and Ghana (78%).  Millicom&#146;s proportional subscriber base increased to 5,836,160 as at June 30, 2005 from 4,421,185 as at June 30, 2004, an increase of 32%.</FONT></P>
<P>
<FONT size=2 face="serif">Within the 5,836,160 proportional cellular subscribers reported at the end of the second quarter, 5,439,224 were prepaid subscribers. Prepaid subscribers currently represent 93% of both total and proportional cellular
subscribers. </FONT></P>
<P align="right">
<FONT size=2 face="serif">3</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<div align="left"><BR>
  <TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="12" align=right valign="top"> <div align="center"><B><U><FONT size=2 face="serif">Cellular Operations</FONT></U></B> </div></TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top" nowrap>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top" nowrap>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top">&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top">&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top" nowrap> <b><font size=1 face="serif">Proportional (i)</font></b><br>
        <b><font size=1 face="serif">Subs as at<br>
      </font></b> <b><font size=1 face="serif">June 30, 2005</font></b> </TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top" nowrap> <b><font size=1 face="serif">Proportional (i)</font></b><br>
        <b><font size=1 face="serif">Subs as at<br>
      </font></b> <b><font size=1 face="serif">June 30, 2004</font></b> </TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top"> <b><font size=1 face="serif">Annualized</font></b><br>
      <b><font size=1 face="serif">Variance</font></b> </TD>
      <TD align=left>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top"> <b><font size=1 face="serif">Total</font></b><br>
        <b><font size=1 face="serif">Subs as at<br>
      </font></b> <b><font size=1 face="serif">June 30, 2005</font></b> </TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top"> <b><font size=1 face="serif">Total</font></b><br>
        <b><font size=1 face="serif">Subs as at<br>
      </font></b> <b><font size=1 face="serif">June 30, 2004</font></b> </TD>
      <TD>&nbsp;</TD>
      <TD align=right valign="top"> <div align="center"><B><FONT size=1 face="serif">Annualized</FONT></B> <B><FONT size=1 face="serif"><br>
      Variance</FONT></B> </div></TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD width=36% align=left>
      <FONT size=2 face="serif">South East Asia</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">439,949</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">883,229</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">-50%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">737,548</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,939,790</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">-62%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
    </TR>
    <TR valign="bottom">
      <TD width=36% align=left>
      <FONT size=2 face="serif">South Asia</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,736,539</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,063,081</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">63%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,923,088</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,271,138</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">51%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
    </TR>
    <TR valign="bottom">
      <TD width=36% align=left>
      <FONT size=2 face="serif">Central America</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,484,783</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,037,755</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">43%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">2,063,247</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,523,790</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">35%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
    </TR>
    <TR valign="bottom">
      <TD width=36% align=left>
      <FONT size=2 face="serif">South America</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,034,673</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">754,900</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">37%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,056,475</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">774,304</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">36%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
    </TR>
    <TR valign="bottom">
      <TD width=36% align=left>
      <FONT size=2 face="serif">Africa</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,140,216</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">682,220</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">67%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">1,425,291</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">863,345</FONT>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <FONT size=2 face="serif">65%</FONT>
      </TD>
      <TD width=2% align=left>&nbsp;
      </TD>
    </TR>
    <TR>
      <TD width="36%"><font size="2">&nbsp;</font>
      </TD>
      <TD width="2%"><font size="2">&nbsp;</font>
      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=1>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=1>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="3" valign="top">
      <HR noshade size=1>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=1>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=1>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=1>      </TD>
    </TR>
    <TR valign="bottom">
      <TD width=36% align=left>
      <B><FONT size=2 face="serif">Total Cellular Ops</FONT></B>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <B><FONT size=2 face="serif">5,836,160</FONT></B>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <B><FONT size=2 face="serif">4,421,185</FONT></B>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <B><FONT size=2 face="serif">32</FONT></B>
      </TD>
      <TD width=2% align=left>
      <B><FONT size=2 face="serif">%</FONT></B>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <B><FONT size=2 face="serif">7,205,649</FONT></B>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <B><FONT size=2 face="serif">6,372,367</FONT></B>
      </TD>
      <TD width=2%><font size="2">&nbsp;</font>
      </TD>
      <TD width=8% align=right valign="top">
      <B><FONT size=2 face="serif">13</FONT></B>
      </TD>
      <TD width=2% align=left>
      <B><FONT size=2 face="serif">%</FONT></B>
      </TD>
    </TR>
    <TR>
      <TD width="36%"><font size="2">&nbsp;</font>
      </TD>
      <TD width="2%"><font size="2">&nbsp;</font>
      </TD>
      <TD colspan="2" valign="top"><HR noshade size=2>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=2>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="3" valign="top">
      <HR noshade size=2>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=2>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=2>         <font size="2">&nbsp;</font>      </TD>
      <TD colspan="2" valign="top">
      <HR noshade size=2>      </TD>
    </TR>
  </TABLE>
  <br>
  <table width="95%"  border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td width="5%">&nbsp;</td>
      <td width="5%"><I><FONT size=1 face="serif">(i)</FONT></I></td>
      <td width="90%"><I><FONT size=1 face="serif"> Proportional subscribers are calculated as the sum of Millicom&#146;s percentage ownership of subscribers in each operation.</FONT></I></td>
    </tr>
  </table>
  <br>
  <p align="center"><B><U><FONT size=2 face="serif">FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2005</FONT></U></B></p>
</div>
<table width="95%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%">&nbsp;</td>
    <td><font size=2 face="serif">Total revenues for the three months ended June 30, 2005 were $261.4 million, an increase of 21% from the second quarter of 2004. The Central American market continued to perform strongly, producing a 44% increase in revenues from $70.7 million for the second quarter of 2004 to $101.7 million for the second quarter of 2005, with Guatemala producing growth of 58%. In South America, revenues increased by 26% to $33.4 million, marking a significant improvement in Bolivia and Paraguay, which produced revenue increases of 33% and 21% respectively compared to the second quarter of 2004. </font></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td> <FONT size=2 face="serif">Second quarter revenues for Africa were $48.0 million compared to $35.2 million in the second quarter of 2004, an increase of 36%. Revenues for South East Asia declined by 12% to $45.5 million over the same period, due to the end of the BCC in Vietnam in May 2005.</FONT></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td> <FONT size=2 face="serif">In South Asia, Millicom recorded revenue growth of 6% to $31.6 million, from $29.7 million in the second quarter of 2004. Paktel GSM has been performing well in a competitive market. The company has been growing its active GSM subscriber base from 386,966 at the end of the first quarter to 675,625 subscribers at the end of the second quarter with a monthly ARPU of approximately $5. </FONT></td>
  </tr>
</table>
<P>&nbsp;</P>
<P align="right">
<FONT size=2 face="serif">4</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><U><FONT size=2 face="serif">FINANCIAL RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2005</FONT></U></B></P>
<P>
<FONT size=2 face="serif">Total revenues for the first half of 2005 were $530.3 million, an increase of 23% from the first half of 2004. Revenues for Africa were $95.9 million, increasing by 43%. Revenues for Central America were $190.2 million, an
increase of 36%, and for South America, revenues were $64.6 million, up 25%. In South East Asia revenues were $115.8 million and for South Asia, revenues were $61.3 million, up 8% and 2% respectively.</FONT></P>
<P>
<FONT size=2 face="serif">Total cellular minutes increased by 39% for the first half of 2005 compared with the same period in 2004.</FONT></P>
<P align="center">
<B><U><FONT size=2 face="serif">COMMENTS ON FINANCIAL STATEMENTS</FONT></U></B></P>
<P>
<FONT size=2 face="serif">The depreciation and amortization charge for the second quarter of 2005 of $59.0 million included $14.9 million in relation to Vietnam. </FONT></P>
<P>
<FONT size=2 face="serif">For the second quarter of 2005, write-down of assets includes an impairment charge on the Paktel analog equipment of $4.6 million due to the accelerated migration of subscribers to the GSM network. </FONT></P>
<P>
<FONT size=2 face="serif">For the second quarter of 2005, the decline in the Tele2 shares resulted in a valuation movement of ($43.3) million. This loss was mainly offset by the conversion to the US dollar of the 5% mandatory exchangeable Notes in
Tele2 shares (&#145;the 5% Notes&#146;) resulting in an exchange gain of $33.4 million and the valuation of the embedded derivative on the 5% Notes resulting in a fair value gain of $8.3 million. </FONT></P>
<P>
<FONT size=2 face="serif">Licenses mainly increased following the renewal of the Pakcom license recorded at the net present value of the $291 million future cash outflows payable over 13 years leading to a net present value of $218.8 million. The
unpaid portion of the licenses is recorded under the captions &#147;other non-current liabilities&#148; and &#147;other current liabilities&#148;. </FONT></P>
<P align="right">
<FONT size=2 face="serif">5</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><U><FONT size=2 face="serif">APPOINTMENT OF A CHIEF FINANCIAL OFFICER</FONT></U></B></P>
<P>
<FONT size=2 face="serif">Millicom has recruited David Sach as Chief Financial Officer, starting September 1</FONT><SUP><FONT size=2 face="serif">st</FONT></SUP><FONT size=2 face="serif">, 2005. David started his career with Pricewaterhouse in New
York and later in London. He then moved to Thomson Corporation as VP and CFO of the Professional Publishing division in America. In 1998, David joined EMI Group, first as VP Finance; then as Group Financial Controller. Before joining Millicom, David
worked for Equant as Senior VP Finance and Chief Accounting Officer, which he left after Equant was acquired by France Telecom in 2004. </FONT></P>
<P>
<FONT size=2 face="serif">David is a CPA and has a BSc in Accounting from the State University of New York. </FONT></P>
<P>
<FONT size=2 face="serif"> </FONT><I><FONT size=2 face="serif">Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in South East Asia, South Asia, Central America, South America and Africa. It
currently has a total of 16 cellular operations and licenses in 15 countries.  The Group&#146;s cellular operations have a combined population under license of approximately 332 million people. </FONT></I></P>
<P>
<I><FONT size=2 face="serif">This press release may contain certain &#147;forward-looking statements&#148; with respect to Millicom&#146;s expectations and plans, strategy, management&#146;s objectives, future performance, costs, revenues, earnings
and other trend information.  It is important to note that Millicom&#146;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&#146;s most recent annual report on Form 20-F, for a discussion of certain of these
factors. </FONT></I></P>
<P>
<I><FONT size=2 face="serif">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. members or persons acting on Millicom&#146;s behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.
</FONT></I></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
        <TD width=55% align=left>
<B><FONT size=2 face="serif">CONTACTS:</FONT></B>
        </TD>
        <TD width=8% align=left>

        </TD>
        <TD width=2%>
          <div align="right"></div></TD>
        <TD width=35% align=left>

        </TD>
</TR>
<TR>
        <TD width="55%">&nbsp;

        </TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<B><FONT size=2 face="serif">Marc Beuls</FONT></B>
        </TD>
        <TD width=8% align=right nowrap>
<B><FONT size=2 face="serif">Telephone:</FONT></B>
        </TD>
        <TD width=2%><div align="right"><b></b>
    </div></TD>
        <TD width=35% align=left> <b><font size=2 face="serif">+</font></b><B><FONT size=2 face="serif">352 27 759 327</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<FONT size=2 face="serif">President and Chief Executive Officer</FONT>
        </TD>
        <TD width=8% align=left>

        </TD>
        <TD width=2%>
          <div align="right"></div></TD>
        <TD width=35% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<FONT size=2 face="serif">Millicom International Cellular S.A., Luxembourg</FONT>
        </TD>
        <TD width=8% align=left>&nbsp;</TD>
        <TD width=2%>
          <div align="right"></div></TD>
        <TD width=35% align=left>

        </TD>
</TR>
<TR>
        <TD width="55%">&nbsp;

        </TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<B><FONT size=2 face="serif">Andrew Best</FONT></B>
        </TD>
        <TD width=8% align=right nowrap>
<B><FONT size=2 face="serif">Telephone:</FONT></B>
        </TD>
        <TD width=2%><div align="right"><b></b>
    </div></TD>
        <TD width=35% align=left>
 <b><font size=2 face="serif">+</font></b><B><FONT size=2 face="serif">44 20 7321 5022</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<FONT size=2 face="serif">Investor Relations</FONT>
        </TD>
        <TD width=8% align=left>

        </TD>
        <TD width=2%>
          <div align="right"></div></TD>
        <TD width=35% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<FONT size=2 face="serif">Shared Value Ltd, London</FONT>
        </TD>
        <TD width=8% align=left>

        </TD>
        <TD width=2%>
          <div align="right"></div></TD>
        <TD width=35% align=left>

        </TD>
</TR>
<TR>
        <TD width="55%">&nbsp;

        </TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=55% align=left>
<FONT size=2 face="serif">Visit our web site at </FONT><B><U><FONT color="#0000ff" size=2 face="serif">www.millicom.com</FONT></U></B>
        </TD>
        <TD width=8% align=left>

        </TD>
        <TD width=2%>
          <div align="right"></div></TD>
        <TD width=35% align=left>

        </TD>
</TR>
</TABLE>
<BR>
<P align="right">
<FONT size=2 face="serif">6</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><U><FONT size=2 face="serif">APPENDICES</FONT></U></B></P>
<UL>
<LI>
<B><FONT size=2 face="serif">Consolidated statements of profit and loss for the three months ended June 30, 2005</FONT></B> <B><FONT size=2 face="serif">and 2004<br>
</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Consolidated statements of profit and loss for the six months ended June 30, 2005</FONT></B> <B><FONT size=2 face="serif">and 2004<br>
</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Consolidated balance sheets as at June 30, 2005 and December 31, 2004<br>
</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Condensed consolidated statements of cash flows for the six months ended June 30, 2005 and</FONT></B> <B><FONT size=2 face="serif">2004<br>
</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Condensed consolidated statements of changes in shareholders&#146; equity for the six months</FONT></B> <B><FONT size=2 face="serif">ended June 30, 2005 and for the year ended December 31, 2004<br>
</FONT></B></LI>
<LI>
<B><FONT size=2 face="serif">Quarterly analysis by cluster</FONT></B></LI>
</UL>
<P align="right">
<FONT size=2 face="serif">7</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
<br>
Consolidated statements of profit and loss<br>
for the three months ended June 30, 2005 and 2004</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="6" align=left><HR noshade size=1></TD>
  </TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
<B><FONT size=2 face="serif">Quarter ended<br>
</FONT></B><B><FONT size=2 face="serif">
June 30, 2005</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
<B><FONT size=2 face="serif">Quarter ended</FONT></B><br>
<B><FONT size=2 face="serif">June 30, 2004 (i</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><b><font size=2 face="serif">)</font></b>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited</FONT>
        </TD>
        <TD width=2% align=left><font size=2 face="serif">)</font><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited</FONT>
        </TD>
        <TD width=2% align=left><font size=2 face="serif">)</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=right><font size="2">&nbsp;</font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Revenues</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">261,381</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">216,049</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Operating expenses</FONT></B></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Cost of sales (excluding depreciation and amortization)</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(69,748</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(57,415</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Sales and marketing</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(37,653</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(27,706</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">General and administrative expenses</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(31,750</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(23,223</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Corporate and license acquisition costs</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(5,908</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(6,492</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Cost of stock options granted to directors and employees</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(893</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(463</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Write-down of assets, net</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(4,958</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(84</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Depreciation and amortization</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(59,020</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(42,092</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Operating profit</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">51,451</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">58,574</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Gain on exchange and disposal of investments</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,303</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">200</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Valuation movement on investment in securities</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(43,291</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(19,907</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Fair value result on financial instruments</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">8,352</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">19,647</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Interest expense</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(35,250</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(24,061</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Interest income</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">5,820</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,488</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Exchange gain (loss), net</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">30,662</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(785</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Profit from associated companies</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">336</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">470</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=2>
        </TD>
        <TD width="2%">
<HR noshade size=2>
        </TD>
        <TD width="2%">
<HR noshade size=2>
        </TD>
        <TD width="20%">
<HR noshade size=2>
        </TD>
        <TD width="2%">
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<B><FONT face="serif">Profit before taxes</FONT></B>
          </font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">19,383</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">35,626</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Taxes</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(14,711</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(16,803</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<B><FONT face="serif">Net Profit after taxes</FONT></B>
          </font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">4,672</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">18,823</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Minority interest</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">205</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(4,500</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<B><FONT face="serif">Net Profit for the quarter</FONT></B>
          </font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">4,877</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">14,323</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <hr noshade size=2>
</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Basic earnings per common share (US$)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">0.05</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">0.17</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Weighted average number of shares</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">outstanding in the quarter (in thousands)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">98,750</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">86,094</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Profit for the quarter used to determine diluted earnings per</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">common share</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">4,877</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">14,472</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Diluted earnings per common share (US$)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">0.05</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">0.16</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Weighted average number of shares and potential</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">dilutive shares outstanding in the quarter (in thousands)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">99,599</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">89,601</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
</TABLE>
<BR>
<P>
<FONT size=1 face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148; and IAS 1, revised, &#147;Presentation of Financial Statements&#148;</FONT><FONT size=2 face="serif"> </FONT><FONT
size=2 face="serif"> </FONT></P>
<P align="right">
<FONT size=2 face="serif">8</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
<br>
Consolidated statements of profit and loss<br>
for the six months ended June 30, 2005 and 2004</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
        <TD colspan="6" align=left>       <HR noshade size=1>

        </TD>
  </TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2"><b><font face="serif">6 months ended</font></b><br>
      <b><font face="serif">June 30, 2005</font></b></font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right> <font size="2"><b><font face="serif">6 months ended</font></b><br>
      <b><font face="serif">June 30, 2004 (i</font></b> </font></TD>
  <TD align=left><b><font size=2 face="serif">)</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited</FONT>
        </TD>
        <TD width=2% align=left><font size=2 face="serif">)</font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited</FONT>
        </TD>
        <TD width=2% align=left><font size=2 face="serif">)</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=right><font size="2">&nbsp;</font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Revenues</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">530,272</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">429,908</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Operating expenses</FONT></B></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Cost of sales (excluding depreciation and amortization)</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(143,107</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(113,489</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Sales and marketing</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(77,350</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(56,496</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">General and administrative expenses</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(61,773</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(45,428</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Other operating income</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">661</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Corporate and license acquisition costs</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(12,498</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(13,806</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Cost of stock options granted to directors and employees</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(1,508</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(623</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Write-down of assets, net</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(28,056</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(489</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Depreciation and amortization</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(116,286</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(79,096</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Operating profit</FONT></B></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">90,355</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">120,481</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Gain on exchange and disposal of investments</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,525</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">230</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Valuation movement on investment in securities</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(98,803</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(86,013</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Fair value result on financial instruments</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">34,577</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">71,347</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Interest expense</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(68,537</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(51,410</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Interest income</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">10,739</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">3,062</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Exchange gain, net</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">50,355</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">13,639</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Profit from associated companies</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">398</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">604</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Profit before taxes</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">20,609</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">71,940</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Taxes</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(26,679</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(33,505</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Net Profit / (Loss) after taxes</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(6,070</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">38,435</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp;<FONT face="serif">Minority interest</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(316</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(9,542</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Net Profit / (Loss) for the period</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(6,386</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">28,893</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Basic earnings per common share (US$)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(0.06</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">0.38</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Weighted average number of shares</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">outstanding in the period (in thousands)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">98,694</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">76,028</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Profit for the period used to determine diluted earnings per</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">common share</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(6,386</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">30,110</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Diluted earnings per common share (US$)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(0.06</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">0.34</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Weighted average number of shares and potential</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">dilutive shares outstanding in the period (in thousands)</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">98,694</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">89,369</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
</TABLE>
<BR>
<P>
<FONT size=1 face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148; and IAS 1, revised, &#147;Presentation of Financial Statements&#148;</FONT><FONT size=2 face="serif"> </FONT><FONT
size=2 face="serif"> </FONT></P>
<P align="right">
<FONT size=2 face="serif">9</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>

<P align="center">
<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
</FONT></B><B><FONT size=2 face="serif">
Consolidated balance sheets<br>
as at June 30, 2005 and December 31,
2004</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="5" align=left><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font>
    <HR noshade size=1></TD>
  </TR>
<TR valign="bottom">
        <TD width=56% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
      <font size="2"><B><FONT face="serif">June 30,</FONT></B><br>
      <B><FONT face="serif">2005</FONT></B>
          </font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
      <font size="2"><B><FONT face="serif">Dec 31,<br>
      </FONT></B>
      <B><FONT face="serif">2004</FONT><font size=2 face="serif">(i)</font></B>
          </font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left>
<B></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited)</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=right><font size="2">&nbsp;</font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
<B><U><FONT size=2 face="serif">Assets</FONT></U></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
<B><FONT size=2 face="serif">Non-current assets</FONT></B></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Intangible assets</FONT></font></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Goodwill</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">54,488</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">37,702</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Licenses, net</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">485,425</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">277,705</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Other intangible assets, net</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,346</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,561</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Property, plant and equipment, net</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">550,483</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">575,649</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Financial assets</FONT></font>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Investment in Tele2 AB shares</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">253,079</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">351,882</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Investment in other securities</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">3,013</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">10,540</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Investment in associates</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">4,338</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,220</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=LEFT>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Embedded derivative on the 5% Mandatory Exchangeable Notes</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">79,824</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">45,255</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Pledged deposits</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">31,777</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">25,544</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Deferred taxation</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">6,037</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">5,883</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="56%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="56%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
<B><FONT size=2 face="serif">Total non-current assets</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,470,810</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,334,941</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="56%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
<B><FONT size=2 face="serif">Current assets</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Financial assets</FONT></font>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp;<FONT face="serif">Investment in other securities</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">15,364</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">15,327</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Inventories</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">12,896</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">16,304</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Trade receivables, net</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">114,992</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">141,972</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Amounts due from joint ventures and joint venture partners</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">8,409</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">11,715</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Amounts due from other related parties</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,216</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,067</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Prepayments and accrued income</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">42,208</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">36,875</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Other current assets</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">77,508</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">62,377</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Pledged deposits</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">7,745</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">9,260</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Time deposits</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">9,163</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">610</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
      <font size="2">&nbsp;<FONT face="serif">Cash and cash equivalents</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">620,411</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">413,381</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="56%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="56%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
<B><FONT size=2 face="serif">Total current assets</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">910,912</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">709,888</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="56%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=56% align=left>
<B><FONT size=2 face="serif">Total assets</FONT></B>
        </TD>
        <TD width=20% align=right>
<B><FONT size=2 face="serif">2,381,722</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<B><FONT size=2 face="serif">2,044,829</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
</TABLE>
<BR>
<P>
<FONT size=1 face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148; and IAS 1, revised, &#147;Presentation of Financial Statements&#148;</FONT><FONT size=2 face="serif"> </FONT><FONT
size=2 face="serif"> </FONT></P>
<P align="right">
<FONT size=2 face="serif">10</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
Consolidated balance sheets<br>
as at June 30, 2005 and December 31, 2004</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="6" align=left></TD>
  </TR>
<TR>
  <TD colspan="6">
    <HR noshade size=1>  </TD>
  </TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
      <font size="2"><B><FONT face="serif">June 30<br>
      </FONT></B>
      <B><FONT face="serif">2005</FONT></B>
          </font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
      <font size="2"><B><FONT face="serif">Dec 31,</FONT></B><br>
      <B><FONT face="serif">2004(i</FONT></B>
          </font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><b><font size=2 face="serif">)</font></b></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited</FONT>
        </TD>
        <TD width=2% align=left><font size=2 face="serif">)</font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=right><font size="2">&nbsp;</font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><U><FONT size=2 face="serif">Shareholders&#146; equity and liabilities</FONT></U></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Shareholders&#146; equity</FONT></B></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=LEFT><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=LEFT>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Share capital and premium (represented by 99,533,935 shares as of June 30, 2005)</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">464,013</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">513,782</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Treasury stock (represented by 654,852 shares as of June 30, 2005)</FONT></font></TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(8,833</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(8,833</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">4% Convertible Notes &#150; equity component</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">39,109</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Stock option compensation reserve</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">3,805</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,297</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Legal reserve</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">13,577</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">13,577</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Retained losses brought forward</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(150,402</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(277,053</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Net Profit / (Loss) for the period / year</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(6,386</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">66,389</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Currency translation reserve</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(72,711</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(71,116</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<FONT face="serif">Minority interest</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">42,626</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">43,351</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Total shareholders&#146; equity</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">324,798</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">282,394</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Liabilities</FONT></B>
        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<B><FONT face="serif">Non-current liabilities</FONT></B>
          </font></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">10% Senior Notes</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">537,102</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">536,629</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">4% Convertible Notes &#150; Debt component</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">159,606</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">5% Mandatory Exchangeable Notes &#150; Debt component</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">315,681</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">365,006</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Other debt and financing</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">124,227</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">124,267</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Other non-current liabilities</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">364,862</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">194,774</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Deferred taxation</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">38,745</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">39,216</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Total non-current liabilities</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,540,223</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,259,892</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp;<B><FONT face="serif">Current liabilities</FONT></B>
          </font></TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Other debt and financing</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">75,450</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">88,511</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Trade payables</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">182,226</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">173,969</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Amounts due to joint ventures</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,506</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">7,760</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Amounts due to related parties</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">341</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">975</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Accrued interest and other expenses</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">65,092</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">55,203</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
      <font size="2">&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Other current liabilities</FONT></font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">191,086</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">176,125</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Total current liabilities</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">516,701</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">502,543</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Total liabilities</FONT></B>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,056,924</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,762,435</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<B><FONT size=2 face="serif">Total shareholders&#146; equity and liabilities</FONT></B>
        </TD>
        <TD width=20% align=right>
<B><FONT size=2 face="serif">2,381,722</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<B><FONT size=2 face="serif">2,044,829</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
</TABLE>
<BR>
<P>
<FONT size=1 face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148; and IAS 1, revised, &#147;Presentation of Financial Statements&#148;</FONT><FONT size=2 face="serif"> </FONT><FONT
size=2 face="serif"> </FONT></P>
<P align="right">
<FONT size=2 face="serif">11</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
Condensed consolidated statements of cash flows<br>
for the six months ended June 30, 2005 and 2004</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
        <TD colspan="6" align=left>       <HR noshade size=1>

        </TD>
  </TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right> <font size="2"><b><font face="serif">June 30,</font></b><br>
      <b><font face="serif">2005</font></b> </font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=RIGHT> <font size="2"><b><font face="serif">June 30,</font></b><br>
      <b><font face="serif">2004</font></b> </font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited</FONT>
        </TD>
        <TD width=2% align=left><font size=2 face="serif">)</font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=RIGHT>
<FONT size=2 face="serif">(Unaudited</FONT></TD>
        <TD width=2% align=left><font size=2 face="serif">)</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=right><font size="2">&nbsp;</font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Net cash provided by operating activities</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">162,396</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">114,605</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Cash flow used by investing activities</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(142,117</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(51,004</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Cash flow provided / (used) by financing activities</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">186,721</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(40,660</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Cash effect of exchange rate changes</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">30</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(501</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Net increase in cash and cash equivalents</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">207,030</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">22,440</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Cash and cash equivalents, beginning</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">413,381</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">148,829</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Cash and cash equivalents, ending</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">620,411</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">171,269</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
  <TD>
    <HR noshade size=2>
  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
</FONT></B><B><FONT size=2 face="serif">Condensed consolidated statements of changes in shareholders&#146; equity<br>
for the six months ended June 30, 2005 and for the year ended December 31, 2004</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="6" align=left><HR noshade size=1></TD>
  </TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
      <font size="2"><B><FONT face="serif">June 30,<br>
      </FONT></B>
      <B><FONT face="serif">2005</FONT></B>
          </font></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% rowspan="2" align=right>
      <font size="2"><B><FONT face="serif">Dec 31,</FONT></B><br>
      <B><FONT face="serif">2004</FONT></B>
          </font></TD>
        <TD width=2% align=left>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left>
<B><FONT size=2 face="serif">(i)</FONT></B></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(Unaudited)</FONT>
        </TD>
        <TD width=2% align=left>&nbsp;

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=right><font size="2">&nbsp;</font>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">US$ &#146;000</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Shareholders&#146; equity as at January 1</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">282,394</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(58,609</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Derecognition of negative goodwill on January 1</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">7,627</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">(Loss) / Profit for the period / year</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(6,386</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">66,389</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Stock options scheme</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,508</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">1,852</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Net proceeds of equity offering</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">203,616</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Shares issued via the exercise of stock options</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,866</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">2,867</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Equity component of 4% Convertible Bonds</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">39,109</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Conversion of 2% PIK Notes</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">-</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">51,417</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Movement in currency translation reserve</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(1,595</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(1,918</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Minority interest</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">(725</FONT>
        </TD>
        <TD width=2% align=left>
<FONT size=2 face="serif">)</FONT></TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">16,780</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
        <TD width="20%">
<HR noshade size=1>
        </TD>
        <TD width="2%">
<HR noshade size=1>
        </TD>
</TR>
<TR>
        <TD width="54%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="20%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=54% align=left>
<FONT size=2 face="serif">Shareholders&#146; equity</FONT>
        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">324,798</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=20% align=right>
<FONT size=2 face="serif">282,394</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
  <TD><font size="2">&nbsp;</font> </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
  <TD>
    <HR noshade size=1>
  </TD>
</TR>
</TABLE>
<BR>
<P>
<FONT size=1 face="serif">(i) Comparative information restated as a result of the adoption of IFRS 2, &#147;Share-based Payment&#148; and IAS 1, revised, &#147;Presentation of Financial Statements&#148;</FONT><FONT size=2 face="serif"> </FONT><FONT
size=2 face="serif"> </FONT></P>
<P align="right">
<FONT size=2 face="serif">12</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>


<P align="center">
<B><FONT size=2 face="serif">Millicom International Cellular S.A.<br>
Quarterly analysis by cluster</FONT></B></P>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="16" align=left><HR noshade size=1></TD>
  </TR>
<TR align="center" valign="bottom">
        <TD width=40%><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8%>
<B><FONT size=2 face="serif">05 Q2</FONT></B></TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8%>
<B><FONT size=2 face="serif">05 Q1</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
</TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8%>
<B><FONT size=2 face="serif">04 Q4</FONT></B>
        </TD>
        <TD width=2%>
          <font size="2"><B></B>
          </font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8%>
<B><FONT size=2 face="serif">04 Q3</FONT></B>
        </TD>
        <TD width=2%>
          <font size="2"><B></B>
          </font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8%>
<B><FONT size=2 face="serif">04 Q2</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
</TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<B><FONT size=2 face="serif">Total cellular subs</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">737,548</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">2,724,656</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">2,499,307</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">2,180,800</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,939,790</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South Asia</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,923,088</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,677,299</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,458,846</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,300,977</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,271,138</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Central America</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">2,063,247</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,859,130</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,697,036</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,537,904</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,523,790</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South America</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,056,475</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">985,715</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">937,397</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">843,384</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">774,304</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Africa</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,425,291</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,294,795</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,120,615</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">990,168</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">863,345</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD><font size="2">&nbsp;</font>
        </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD colspan="14"><HR noshade size=1></TD>
  </TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Total</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">7,205,649</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">8,541,595</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">7,713,201</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">6,853,233</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">6,372,367</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="2%"><font size="2">&nbsp;</font>
        </TD>
        <TD colspan="14"><HR noshade size=1>
        </TD>
  </TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<B><FONT size=2 face="serif">Prop cellular subs</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">439,949</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,227,011</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,125,808</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">990,144</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">883,229</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South Asia</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,736,539</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,474,479</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,246,132</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,083,736</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,063,081</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Central America</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,484,783</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,251,121</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,149,299</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,049,491</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,037,755</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South America</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,034,673</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">964,775</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">916,465</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">823,360</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">754,900</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Africa</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,140,216</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,042,704</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">894,555</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">790,990</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">682,220</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="2%"><font size="2">&nbsp;</font>
        </TD>
        <TD colspan="14"><HR noshade size=1>
        </TD>
  </TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Total</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">5,836,160</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">5,960,090</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">5,332,259</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">4,737,721</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">4,421,185</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="2%"><font size="2">&nbsp;</font>
        </TD>
        <TD colspan="14"><HR noshade size=1>
        </TD>
  </TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<B><FONT size=2 face="serif">Revenues (US$ &#146;000)</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>

        </TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
    <TD width="8%"><font size="2">&nbsp;</font></TD>
    <TD width="2%"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South East Asia</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">45,492</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">70,296</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">64,632</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">59,624</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">51,803</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South Asia</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">31,611</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">29,704</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">24,889</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">28,006</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">29,746</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Central America</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">101,652</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">88,592</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">87,899</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">77,660</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">70,691</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">South America</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">33,383</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">31,211</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">32,302</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">30,116</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">26,573</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Africa</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">47,986</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">47,954</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">44,355</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">38,759</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">35,193</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Other</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">1,257</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,134</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,609</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">1,707</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<FONT size=2 face="serif">2,043</FONT>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="2%"><font size="2">&nbsp;</font>
        </TD>
        <TD colspan="14">
<HR noshade size=1>
        </TD>
  </TR>
<TR valign="bottom">
        <TD width=40% align=left>
<FONT size=2 face="serif">Total</FONT>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">261,381</FONT></B>
        </TD>
        <TD width=2%><font size="2">&nbsp;</font></TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">268,891</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">255,686</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">235,872</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
        <TD width=2%><font size="2">&nbsp;</font>
        </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="serif">216,049</FONT></B>
        </TD>
        <TD width=2% align=left><font size="2">&nbsp;</font>

        </TD>
</TR>
<TR>
        <TD width="40%"><font size="2">&nbsp;</font>
        </TD>
        <TD width="2%"><font size="2">&nbsp;</font>
        </TD>
        <TD colspan="14">
<HR noshade size=1>
        </TD>
  </TR>
</TABLE>
<BR>
<P align="right">
<FONT size=2 face="serif">13</FONT></P>
<br>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>

</BODY>

</HTML>




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>millicom.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 millicom.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"``\`'$#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_*6XMX"!
M-/#"6!*B65(RP'4@.PR!WQTHBN+>?=Y,\,VW&[RI4DVYSC=L8XS@XSUP<=*_
ME'_X.2OB;\1?A_XS_95B\"^.O%O@^+4_#'Q0DU&/PUK^J:*E]);:KX02W>[7
M3KFW%PT*RRK$TH8H)'"X#'/PG_P16_;?^*_@']M;PC\-?BE\0_&6N^"_C9`?
M"%U9>,-?UK48;3Q!]BOKOPE?1)J=S,L*RW,\]LK+&!<27=MAP`IK\;S'QAR[
M*^/7P1B\JKP2Q^`R^6;?6J?L85<QPV&K4)SP[I*2IJIB84IOVMTN:HKI<I_I
M-P9^S@XQX\^B6_I1\/<?Y5B9/A/BOBZEX>RR'%K,L1@N#\[S?+<UP]#.(YA*
MC4Q,L%DN+S##167VJ5)4<%)QE/VZ_NJHI,CID9],TM?LA_FR1R2Q0KOFDCB3
M(&Z1U1<G.!N8@9.#@9R<&HTO+25@D=U;R.V=J)/$['`R<*K$G`!)P.G-?S"?
M\'%O[6OB[X?V'P/_`&>?AGXNUWPSK^O7.H?$3Q;/X8U6\TS4VL+0_P!B^&K!
MY].GAND\ZZEU.X^SDE;A&B8*2@Q^57_!&/XS_&?Q-_P47^"GAGQE\3?B)KFE
M3+XWCU#0O$/BK7KZSDEMO!^M2(EWIU_>21-)!/&KJLL6Z.5`<!A7X[F_C!E^
M6<=8?@BGE5?&5:N899EM;,88JG3HT,3F+H7C[%T9RG]65>/M%[2+E-2@K<MW
M_I'X=?LY.+N.?HJYO]*+&^(&6<.9?@>$>-^-,NX.Q.08O&9CFF2\'0S-PK+,
M89CAZ.&6<5,JQ'U63PE:%+#U,/7DZGM/9Q_O8)`!)(``R2>``.I)[`57CN[2
M5@D5U;R.>B1S1NQQUPJL2<?2N.^)\\UM\-/B'<6\LD%Q;^!O%L\$T3%)89HM
M`U"2*6-U(9)(W571E(*L`0017\//_!$/XT?%WQG_`,%"?ACH7B[XG>//$VBS
M>'/'$TVDZ]XKUO5=.EE@T1VADDL[V]F@=XF),;-&60DE2#7TO%7'5'AC/^$L
MBJ9=4Q<^*L;/!T\1#$1I1P;AB,%0]I.G*E-U4WC%+EC*#]QJ^MU^)>`GT4\Q
M\=/"3Z07BOA.,<%P[AO`3AS#<0XS)L3E%?,*_$<,3E/$F:K"X;%TL;AJ>7RC
M'AV=%U:M'$IO%1FH6I.,_P"[^BBOYT_^"O'_``63O/V7=8U']G#]FR33=1^-
M/V)1XU\<7*1W^G_#<7\!>UL=*M`7M[_Q<J-'/+'>J]GIBRQBX@GN`T`]OBCB
MC)^$,IK9SG6(='"TI1ITZ=.*GB,5B)INGAL-2O'VE::C)V<HPA",ZE2<*<)2
M7Y9X%>!'B-](OQ!RWPV\,LHCF6>8VG4QF,Q>*JO"Y/D.48>=.&,SK.\=R5%@
M\NPLJU*#E&G6Q&(Q%:AA,'A\3BZ]&A/^@W6_%GA;PS"UQXD\2Z!X?MTQNGUO
M6=.TJ%<\#=+?W-N@R>!EAGM7&Z/\</@KXAO/[/T#XO\`PNUR_P#,$7V'1_B!
MX3U.\\UB0L?V:RU:>;S"00$V;B0<#@U_#=\*?^":7_!2W_@I)+9?&OXFZ]K"
M:'XBC-QIOQ"^.7B6_-YJ%@7`CET'P\5GU&/2SYC_`&2*"STZR\I6-I&82A/T
M1XM_X-K?VJ]!TF;4?"7QG^#_`(QUBWB>>WT>*+Q+X>DFGBP\<,>H:C9O;Q.[
M`A)&`56`SUR/RNCXG\?9E2>89-X59EB<IE^\H5\7F4<+BL30:YH5:>'EA.9\
M\6I1]@L5!W]V<KIG]]9A]!;Z)/!6.7"'B7]/S@G)O$*C+ZIFN6</\%UL^R'(
M\UA+V6)P&-SFCQ"J,'AJRE3JO,YY%B*3C+ZQA</*,HK^U:*6*9%EADCFC<96
M2)UD1AZJZ$J1[@FI*_@Z^$W[='_!13_@E!\9=*^%G[0Z>-?$O@&S^S2:E\*_
MB!JT^NZ7=^')Y5\W5/AMXGEGN8]/G4*XA^R74VE^<)(;[3HYG,L?]M'P'^-O
M@+]HOX2^"?C+\--6BU?PAXXT:#5;"5&4SV4YS%?Z3J$0):WU'2[U)[*\@<`K
M+"73=%)&[_;<$^(>5\9RQN"CA<9D^>Y9;^TLCS*'L\7AUS*$JE-M1]M1C4:A
M.3A3JTY2@JM*FJE-S_E[Z3_T.N.OHTT^&N):N?<.^)'A5QPI2X*\4>"\3];X
M>S>7LI8FG@L7&,ZZR_,JN$C+%4*<,3C<#C*%/$2P&88J6$QD,/Z[1117Z`?R
M&?R$_P#!SS_R._[(_P#V*OQ7_P#3OX,K\HOVK?`6M?!+PG_P3O\`VL?!-LVC
M7_Q"^"7@WQ7!?VL;Q6=K\0_A/XEDLQ(DBN)7NIK2UT+4[QBZEFNL(0.!^KO_
M``<\_P#([_LC_P#8J_%?_P!._@RO;/BC^S7:?'__`(-_?@5KEEI:7OC;X,?!
M^S^(_AFY2$27L>FZ;KUY+XML;9]I,<-WH]O]LNSP#%I:\Y`!_CGB[(:O$''W
MBW1PUUCLLR3*\\P$HKWXXG*Z&159*FU[RJ5,)+%4J=MYU(W6BM_TC?1U\6<!
MX0_1+_9YYAG:C+A?CGQ0X\\*^*Z564?JM3)N.\T\4<OH2QD*C]C/!87B"AD>
M/QGM%987"5TFE*2?]%/P&^)VE?&?X+?"OXJZ->VU_9>/?`'A/Q1Y]K.+B..Z
MUC0[&]OK1Y!AA<65Y-/:7,<BI+%<0R1RHDBLH]?9U1&D=E1$4N[,0%55!+,Q
M/`"@$DG@`$FOYY?^#=#]H.V^('[)_BGX$ZC?//XC^!_C+4+NSBN)WDF/@[QY
M=7.L:<D*R[F,6GZY'KD3%&,<$5U90!(P$#?JE^WW^T5I/[+7[(GQL^+^I3>5
M>Z7X0U'0?"R`C?/XT\6POX<\)1JA!,B1ZYJ-I=72(-PL[>YDRJQLR_TIP[Q7
MA,RX(P'%N(J0IT/[%>/S"7->%&M@Z$UF$')I7]E7H5X7LF^5::V/\3/&+Z/W
M$/!'TH^*_H\Y/@\3C,V_XB93X2X1HNBX5LSR_B7,L/+@_$QI)R2^OY3FF68A
MJ,I1A[22YGR-G\I'C&(_\%%?^"VOB:SNIWU7X?\`PR\2Z[(CPC[591>$/@)I
M]Q=K;W`;:CZ?K7C"P33+AXQB6#55,;,,25\S?\$6=6GU[_@I_P#!G6KF.**X
MU6Z^(%_/'"&$4<MUX1UR9TC#LSA%9R%W,S8`R2>:_4W_`(-X/@!._@#]IO\`
M:I\26TMSJ7B"SU#X<>%=4O5:2XFBMM/N]:\7WT%R^6D:]O[JQM;TLQ9Y+1&.
M3S7Y/?\`!#W_`)23_`;_`*Y^-_\`U#-:K^4:.#Q+SCPMXEQT7''\9\=9GGU>
M]W)8>6<9%1P--M[PA'V]6CHER8C31JW_`$"9AQ%DU+P\^G?X)\+UHUN%/HT?
M13X#\)<K]DHQH3SBGX<^*F9<48V,(MJ.*Q-?^RL!F-VY?6LF=[24W+^_#XK?
M\DN^)/\`V(/C'_U'=1K^#+_@@]_RD>^%G_8L>//_`$Q-7]YOQ6_Y)=\2?^Q!
M\8_^H[J-?P9?\$'O^4CWPL_[%CQY_P"F)J_7?%G_`).'X/\`_8[K?^K')#_.
MW]GQ_P`H=_M%O^S:99_ZQ_B:?W,_M,?%^S^`?P!^+WQCOFB6#X=>`?$7BA?.
M9E1[G3]/F>RB.Q)'9I;PP1JB([.S!%4EA7\0'_!)7]F\?\%"/V\M=\=?&X-X
ML\-^#FU+XV_$NSU&/[78^+M6O]>@MM'\-ZBTTOFK8WVK:@;QX5\PRZ9HMS9!
MHU<2+_4K_P`%LM9N]$_X)I?M)7-FQ62[L?`VC2D,5S::W\2/"6DWBY'4-:W<
MJE>C`X/!K\IO^#8WPWIL6@_M1^+UC_XF][JW@?PY+*57C3M-L]0U."-6QO`:
MYU6X9UW;3M0XR,T^/J,.(O%WP_X8QL56RK"8+$9Y7PL]:->LI8Z<55IOW:L6
M\LH4Y0DFG2J58M.,Y)X_1*S*OX.?LZ_I>>.O"]6>7<?<0<4Y1X597GV%M#,,
MJRZI2X4P]:>!Q4;5L%5C2X[S+%TZ]"4:D<;A<OK0<:N%I5(?U5P6D%G;PVMG
M%';6MM#'!;V\""*&&&%`D<42)A4CC10J(H"J```!5A6R/<=:=1@#H`*_H)))
M62LEHDMDNQ_D"VY-RDW*4FW*3;;;;NVV]6V]6WJV?E=_P5O_`&%)/VW_`-F>
M[T3P9HMG??&OP%JMCXB^&-U)+8V,]W)/<PZ?K_AVXU._N+6VM]-U#2KB;4'$
M\Z+]OTFQ",@>0/Y9_P`$6/V8OVI?V1/@U\1_A!^T3X?M]%T<^,X/%/P^6W\0
M:-K4<2:K8)!XAMA'I.J:BML)+NUM;C,@@#G.`YR1^TE%?(U."\GEQ?1XUIRQ
M>'SBG@99?5C0JTX83&490G34L72=&52K5C"4(QDJT$E0P_NWIZ_T+A/I,^(M
M#Z.N9_1BQ5+(,W\.<=Q31XNP%;-<%C,3Q#PWF5+$83%RH\.YA',:6%P&!K8C
M#XJK6P]3+\1*<LWS:U2*Q=J91117UQ_/)_(3_P`'//\`R._[(_\`V*OQ7_\`
M3OX,K]T/^"76A:5XH_X)C?LP>&==LXM0T3Q#\$GT36+"<!H;W2]5O-=L;^TE
M4]8[BUGEA<=U<U^%_P#P<\_\CO\`LC_]BK\5_P#T[^#*_>?_`()-?\HX_P!D
M;_LE%E_Z=]7K\!X5C&?CMXCPDE*,LCP,91DDXRC+#\/IIIZ---IIZ-:'^N7C
MU6JX?]E/]"^O0J3HUZ'BIQ76HUJ4I0J4JM/-O%F=.I3G%J4)PG%2A*+4HR2:
M::/YGO\`@F=K^N?L$_\`!7?QY^SIXQ,VB^'_`!UXF\8_"9XKQFMH+RSNM1FU
M[X9:T(V_=I%JMI%I5[:R.%<VVHI&KCS2&^M_^#C_`/:?-RGPL_8T\,3M+J6H
MWFE?%'QM9PN"9%EDO]'\"V+*BY#O=+K5Y)!(_P`V=.G$8Q&Y\-_X+]?#+Q'^
MS_\`MI_`_P#;*\&*UJ_B^W\-RM<6VZ!(_'7PCGTYK1KNX13M?6?#YTZT"8;?
M;:/<DJV7!^2OASK>L_\`!6S_`(*X>#/%&H6\UMX:O_$6@^)+NRO8U*VOPR^#
M=A:ZH^G7<48\NU.OPZ4+"95+!=3UXXD9Y-Y_,LPS#'9%EO$_@]@W56.S#C7"
MX')XM-REP_G<OK-E4NHQB^3"^UTMRXVJGIS-?W-PAPAPIXK\:>!/[1WB6G@9
M<+<'?1DSWBGQ(Q%.I%4J'B[X845DL)UL*TZU:K3CB<^G@)-^T57AC+IQN_8J
M7]<'["?[/R?LS_L%_"_X5SV0LM>M/A9=>(_&$31>5.?%OBK29M<UJ*[3`/VJ
MQENX]*FSR385_&C_`,$/?^4D_P`!O^N?C?\`]0S6J_T"O%"A?"?B4`;0/#^L
M@*!@`#3;D``#H!T`].E?Y^O_``0]_P"4D_P&_P"N?C?_`-0S6J^Z\3,!A\JX
MK\#\LPL>3#9?FL<%0CVI8;&\-T87[MQ@G)]6VWN?RM]!OBW-N/?`/]J/QQGU
M5U\[XOX$J\2YK5NY*6/SKAGQIS'$J#E=JE"KB)PI1VA3C&$4DDC^_#XK?\DN
M^)/_`&(/C'_U'=1K^#+_`((/?\I'OA9_V+'CS_TQ-7]YOQ6_Y)=\2?\`L0?&
M/_J.ZC7\&7_!![_E(]\+/^Q8\>?^F)J[O%G_`).'X/\`_8[K?^K')#Y7]GQ_
MRAW^T6_[-IEG_K'^)I_7K_P5A\`WOQ'_`.">W[47AO3K1KZ_A^'TGB2SM(T\
MV6XN/".JZ;XHBCA3!W3EM*'E8P0X!#+C</P)_P"#97XE6UC\3OVE/A->WL<4
MVO>"_"?CG0[.24(T\F@ZS<Z)KS0HS`22"+7-#8A%+B.)V8E%^7^O'Q)X?TSQ
M7H&M>&M:MH[S2=?TJ_T?4K655>.XL=1MI;2YB=6RI#Q2N.1U.:_S]_B9X2^-
M/_!&C_@H79>*-"TVZNM!\,^)+OQ#X):>2\M?#OQ*^%FM27,,OA^]O(EQ,JV$
MSZ=?1!I+C3]4L[>\`2>&"07XINKPOQOP/XB2I5:N5X"53)LYG2C*;PV'Q#Q$
M8591BFVG2QN+E!;.M0ITU[]2*?+]`E8#QV^B[]*?Z&U',<#@>/.+*6$\3/#?
M"X^O3P\,YS;*(9+4Q>"HUJLXPISIX_A;AZAB9J\J.!S7%8R498?!UW'_`$(Z
M:&R3[?KUKX$_9;_X*6?LE?M7>$-%UOP7\5O"WA_Q/?V:-K'P_P#&.LZ?X=\5
MZ'J*1(;RRELM1N8%NXHI686]Y9RSP7<066)B"0/J3QI\=?@M\-_#][XH\<_%
M7P!X8T'3K>2ZO-2U;Q7HMM"D,2EW**;PR3,%Z)`DCL<`*217[9@\\R?,,%#,
M<'FF`Q&!G3558JGBJ+HJ#CS-SGSVIN*=YQJ<LH:J2331_F!Q%X7>)'"7$U?@
MSB3@3BS)^*L/C)9?/(<;D.9TLSJ8N-5T52PV&^K.>+56HK4*F%5:EB$XSH3J
M0E&3\X_;+_:6T;]D/]F[XG?'_6-/@UL^!=(@N-)\.37HL&\1ZWJ&HV>F:9H\
M-QLD9'GGNQ+*T<<C1VT%Q-MVQL1\=?\`!,#_`(*4Z_\`\%$K;XJ:M/\`""'X
M;:#\-Y]!TY-0BUV;6O[4U?68[JY>R.^UMT@^SV4"3\%G?S.0`,G^>G_@LC_P
M4WTK]N+7_!G[-'[,BZWXE^&&B>(K?4KW5;"RODO/B9XWGB>PTJRTK255KJ[T
MG24NIUL"T"37M]=S2")XXX&7^CO_`()(?L8WG[%W[)'AKPKXJLX[7XH_$&[;
MQ_\`$A%,;R6.IZE`D>D>'WEC"^8=#T=+>&97&^'4+B_@+ND:-7Y7E/&>:<7>
M)E7`<.XY5>"\@RZ:S?$4J-&IA<PS*:JQI1HXN5*51I5JM-05&K&%6&"KU8\]
M.2<O[W\0OHT<!_1Y^@]@>*_&?A:6`^DUXN\9T)^'F3YCF&:8+/>#^"<)4RVM
MCJV9\/4<?1PD9RP&!QE3%3S+`5L1@<3Q/E>`K1H8NE.G1_4"BBBOV@_S,/R2
M_P""F/\`P2KTW_@HYK?PFUF_^-U]\(S\+=+\5:9';V?P^@\;#6QXGN]&NFF>
M6;QCX6.GFR.D!!&L=Y]H^T%B\/E;9/NK]E/X"P_LO_L[?";X`6_B>7QI!\+/
M"L/AB/Q3/I":#+K:PW=W=_;7T>/4M733V8W13R%U.\`V;O..[:OT'17@X7AC
M(\%GN8\2X7`JEG>;4*>'S#'?6,5-XBC2CAXTX/#U*\L+3Y8X6@N:C0IR?L[R
MDW*;E^L9_P"./BGQ1X5\'>">>\53Q_AAP!F>+SGA'A=Y1D&'AE&98^KFU;%X
MF.;83*J&>XUU:F>9I+V68YIC*$/K35.E"-'#JE\$?\%#_P!@WPK_`,%`_@II
M_P`)=?\`&,WP\U/0O%>G>*_#OC6U\.1>*KC2+FVCFM;^W71YM:\/I/'JFGSR
MV<K_`-IQ&$,)0DI7:?F;_@F]_P`$?/`W_!/?X@>,_B:GQ;OOC#XM\3>'8O"^
MDWU]X$MO!2^&=)DNA>:O%;)!XK\4->OK$MOIPF=Y+40I81JBOYCFOV0HKFQ/
M!O#.+XAPW%6)RJE5S_"0A##Y@ZV*4H*E"I3IMX>->.$J5*<*DHPJU,/.I'W'
M&:=.FX^WDOTE?'#A[P>SKP"R;C_'X'PCXAQ&*Q.;\(4\MR&=/%3QV)PF,QM.
M&<ULJJ<183"8O$X*A5Q.!P6;X?!5V\1&IAY0QF,C7H:K8C5-+U+3#*81J-A>
M6)F">88A=V\EN91&60.8Q)O";UW8QN7.1^!?[$O_``0@T;]C3]H_P+^T+:?M
M-ZG\0I_!*:XB>%+CX26GAF+4O[:T6]T<EM9B^(NNO:_9Q>&X`&F7'FF,1'RP
MV]?Z`Z*WS?A;(<]Q^3YGFN`6+QV0XB6*RFN\1BZ+PE>57#UG45/#XBE2K7J8
M7#RY<1"M#]W91Y934O*\._'GQ8\*.%?$7@GP_P"+:G#_``QXL932R/Q!RN&3
M</9E'B'*J."S?+Z6$GB\XRG,,?EJC@\^S:C[;)\5E^(?UMSE5=2CAYT<'Q5H
M:^)_#'B/PVUR;)?$.@ZQH;7BQ"=K1=6T^XL#<B`R0B8P"X\T1&6(2%-AD3=N
M'X5?L+_\$+]'_8H_:*\+_M`6?[2VI_$:?PUIFNZ<OA:Y^$]KX6BO!K=B;(S'
M6(OB)K[P&V!\P(-,F$OW"T?WJ_?.BC->%LASS,,HS7-,`L5C\AK2Q&4XAXC%
MT7A*TJE&JYJG0Q%*C6O4P]&7+B*=6/N62M*29X?^//BQX6\(>(?`7`?%L\AX
M3\5LMIY1Q_E$<FX>S&/$&74<'F6`IX:>-S;*<?F.6J.$SC,:7M<GQ>7UG]9<
MW4=2E1G3*^8OVJ/V0/@1^V/\/I_AY\</!MGXALHA/-H&N0_Z)XD\*:E-$8AJ
MOA[5X=MS972`X>,L]K<INANH)HG9#].T5Z^,P6$S'"U\%C\-0QF#Q--TL1AL
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M7]B?7+;X@)/J/QC^+=DWF:3X]\;:;96:^&9""K2^%?#UI-=66D711FC_`+0E
MN+_4PCNB7D<;%*_7BBBOT[)<AR?AS`PRW),OP^6X*$G-4</%KGJ224JE6I-S
MJUZLDDI5:U2I4DDDY-)6_AGQ.\6/$?QFXIQ'&GBCQAG/&G$V)I4\/+,LWKPE
M]7PM)RE2P67X/#T\/E^5X"E*=2=/`9;A,)@Z=2I4J0H*=2<I%%%%>N?GA__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
