Q3 Highlights

— Organic local currency revenues up 9.1% versus Q3 10
— Revenues up 13.1% to $1,151 million (q3 10:$1)(q3 10:018 million)
— EBITDA up 9.3% % to $529 million (q3 10:$484 million)
— EBITDA margin of 46.0% (q3 10:47.5%)
— Mobile customers up 13% versus Q3 10, bringing total customers to 42.2 million
— Basic earnings per common share of $2.78 (q3 10:$1.34**)
— Normalized earnings per common share* of $1.74 (q3 10:$1.34)
— Free cash flow of $328 million (q3 10:$203 million)
— 1.8 million shares bought back for a total consideration of $197 million
* Excludes one-off events in 2010 and 2011
** Includes discontinued operations but excludes the $1,060 million gain on the revaluation of our Honduran operation.

Mikael Grahne, President and CEO of Millicom, commented:

“Millicom performed in line with our expectations during the third quarter, with local currency revenue growth of 9.1% over the third quarter of last year which had the highest percentage growth in 2010. We are on track to achieve top line growth of around 10% in local currency for the full year. We are pleased to report a margin of 46% despite continued investment in new services.

“Our operations in Latin America demonstrated continued momentum in top line growth and ARPU stabilization, driven primarily by local currency revenue growth in mobile data of 93%. Mobile data now contributes 11% of recurring revenue in the region and fixed data 4%. The increasing penetration and growth of other value-added services, including mobile financial services, is also contributing to this strong performance. VAS now amounts to more than one third of Latin American revenues…

Note: For more financial information and the full text of the statement, please download the entire MILLICOM PRESS RELEASE here.