Tele2 Capital Market Day 2009: New Financial Targets for Tele2's operations in Russia

Stockholm - Tele2 AB, ("Tele2"), (NASDAQ OMX Stockholm: TEL2 A and
TEL2 B), today announced new financial targets for its Russian
operations.

Tele2 expects its customer base in Russia to be able to reach the
range of 18-19 million customers by year-end 2011, thanks to the
roll-out of new regions.

EBITDA margin for the total Russian operations should evolve from 25
to 30 percent between 2010 and 2011.

EBITDA margin of old regions should evolve from 40 to 45 percent
between 2010 and 2011.

EBITDA margin of new regions should reach break even two years from
commercial launch.

Between 2010 and 2011, accumulated capital expenditures for the total
Russian operations will be in the range of SEK 4.5 to 5 billion.

Harri Koponen, President and CEO of Tele2, comments: "I am very
pleased with the way our Russian operations are currently developing.
We are now aiming for the next level with the launch of our new
regions, creating the foundations for prolonged growth in our Russian
asset"

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Further information can be obtained from:
Lars Torstensson, Investor Inquiries, Tel: +46 702 73 48 79
Pernilla Oldmark, Press Inquiries, Tel: +46 704 26 45 45

Tele2 is one of Europe's leading alternative telecom operators.
Tele2's mission is to provide affordable and easy connectivity for
everyone at anytime. Tele2 always strives to offer the market's best
prices. We have 25.4 million customers in 11 countries. Tele2 offers
mobile services, fixed broadband and telephony, data network
services, cable TV and content services. Ever since Jan Stenbeck
founded the company in 1993, it has been a tough challenger to the
former government monopolies and other established providers. Tele2
has been listed on the NASDAQ OMX Stockholm since 1996. In 2008, we
had net sales of SEK 39.5 billion and reported an operating profit
(EBITDA) of SEK 8.2 billion.