Annual report and accounts 2008

 

The management of Millicom International Cellular S.A. is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in conformity with International Financial Reporting Standards as adopted by the European Union as well as those issued by the International Accounting Standards Board.

Because of its inherent limitations, internal controls over financial reporting may not prevent or detect misstatements.

Management has assessed the effectiveness of Millicom International Cellular S.A. internal control over financial reporting as of December 31, 2008. In making its assessment, management has utilized the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control—Integrated Framework. Management concluded that based on its assessment, Millicom International Cellular S.A. internal control over financial reporting was effective as of December 31, 2008.

Management’s assessment of and conclusion on the effectiveness of internal control over financial reporting did not include the internal control of Amnet Telecommunications Holdings Ltd, Continental Programming Services Ltd, Teleservicios Centroamericanos Ltda and its subsidiaries, a group acquired in October 2008, which is included in the 2008 consolidated financial statements of Millicom International Cellular S.A. and represented total assets of $739 million at December 31, 2008 and $43 million of revenues for the period from the acquisition in October 2008 to December 31, 2008.

PricewaterhouseCoopers S.à.r.l has issued an unqualified report on our 2008 financial statements as a result of the audit and also has issued an unqualified report on our internal control over financial reporting which is attached hereto.

March 24, 2009