Tele2 divests Tele2 Luxembourg and Tele2 Liechtenstein to Belgacom for approximately SEK 2 billion

Stockholm - Tele2 AB, ("Tele2"), (Stockholm Stock Exchange: TEL2 A
and TEL2 B), today announced that it has sold its Luxembourg and
Liechtenstein operations to Belgacom. Belgacom will pay in cash
approximately SEK 2 billion on a debt and cash free basis. Completion
is expected following approval from the relevant regulatory
authorities.

Lars-Johan Jarnheimer, President and CEO of Tele2, comments: "Tele2
has for several years operated very successful infrastructure based
businesses in both Luxembourg and Liechtenstein. However, as an
important step in our realignment process, Tele2 has decided to take
advantage of attractive pricing on the two assets in order to realize
value."

At the end of March 2008, Tele2 Luxembourg and Tele2 Liechtenstein
had approximately 238,000 mobile customers, 10,000 fixed broadband
customers and 26,000 fixed telephony customers. Tele2 Luxembourg and
Tele2 Liechtenstein affected Tele2's operating revenue in 2007 and
the Q1 2008 by SEK 935 million and SEK 223 million, respectively, and
EBITDA by SEK 271 million and SEK 57 million, respectively. The
transaction will result in a positive one-off item of approximately
SEK 1 billion.
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Further information can be obtained from:
Lars-Johan Jarnheimer, President and CEO Tele2 AB, Telephone: +46 8
5626 4000
Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79

Tele2 is one of Europe's leading alternative telecom operators.
Tele2's mission is to provide price leading and easy-to-use telecom.
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, 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 OMX Nordic
Exchange since 1996. In 2007, we had an operating revenue of SEK 43.4
billion and reported an operating profit (EBITDA) of SEK 6.6 billion.
Please visit us at www.tele2.com.