Tele2 — Capital/Financing Update 2007

Dec 20, 2007

Press Release 2007-12-20

900 MHz EGSM frequency awarded to Tele2 Croatia

Stockholm - Tele2 AB, ("Tele2"), (OMX Nordic Exchange Stockholm: TEL2 A and TEL2 B), announced today that Tele2 Croatia has been awarded a 900 MHz EGSM frequency. The frequency fee, which will be recorded in Croatian Kuna, is approximately SEK 3.2 million on an annual basis. The new frequency spectrum was available to Tele2 Croatia as of 17 December 2007.

Johnny Svedberg, Market Area Director Baltic, Russia & Croatia, comments; "The new 900 MHz EGSM frequency in Croatia will allow us to enhance network coverage, reduce capital expenditure as well as improve our price position in the market. Together with the new roaming agreement, effective from 1 June 2008, the 900 MHz frequency will enable Tele2 to significantly improve the operational performance of its Croatian business."

Further information can be obtained from:

Lars-Johan Jarnheimer, President and CEO Tele2, Tel: +46 8 5626 4000 Johnny Svedberg, Market Area Director Baltic, Russia & Croatia, Tel: +46 8 5626 4000 Lars Torstensson, Investor inquiries, Tel: +46 702 73 48 79 Lena Krauss, Investor inquiries, Tel: +46 8 5620 0045

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Tele2 is Europe's leading alternative telecom operator Tele2's mission is to provide cheap and simple telecoms for everyone in Europe. Tele2 always strives to offer the market's best prices. We have 25 million customers in 15 countries. Tele2 offers fixed and mobile telephony, broadband, data network services and cable TV. 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 OMX Nordic Exchange Stockholm since 1996. In 2006 we had operating revenue of SEK 50.3 billion and we reported an operating profit (EBITDA) of SEK 5.7 billion.