Full-year Report 2008

Stockholm - Tuesday, February 10, 2009 - Tele2 AB ("Tele2") (OMX
Nordic Exchange: TEL2 A and TEL2 B), today announced its consolidated
results for the fourth quarter and full-year 2008."After a number of successful divestments,
Tele2 is even meaner and leaner that before""Tele2 performed very well in 2008, despite tougher market
conditions. We are happy to present year-on-year revenue growth of 7
percent and an EBITDA margin of 21 percent from continuing
operations, well above 2007. After a number of successful
divestments, Tele2 is even meaner and leaner than before. Given the
current financial turmoil, I think that most people can agree that
Tele2 closed those important deals at the right time. We now have a
solid financial foundation to continue to build our success in 2009",
comment Harri Koponen, President and CEO of Tele2.

Financial highlights
Net sales amounted to SEK 10,313 (9,599) million, an increase of 7
percent. EBITDA in Q4 2008 increased by 47 percent to SEK 2,173
(1,482) million. Net sales for FY 2008 amounted to SEK 39,505
(40,056) million, a decrease of 1 percent. EBITDA in FY 2008
increased by 30 percent to SEK 8,189 (6,309) million.

The Board of Directors proposes a total dividend for 2008 amounting
to SEK 5
The Board of Tele2 AB has decided to recommend an increase of the
ordinary dividend by 11 percent to SEK 3.50 (3.15) per share in
respect of the financial year 2008. The Board has also decided to
recommend a special dividend of SEK 1.50 per share.

Tele2 signed credit facility agreement of SEK 12 billion
Tele2 has entered into a 3-year revolving credit facility agreement
of SEK 12 billion with a syndicate of 9 banks. The deal was
successfully oversubscribed and has been closed.

Tele2 Russia passed 10.4 million customers
During 2008 Tele2 Russia made significant operational progress and
the customer base amounted to 10.4 (8.6) million customers at year
end.

The full-year report is available at www.tele2.com.

Conference call details
A conference call, with an interactive presentation, to discuss the
results will be held at 10.00 (CET) / 09.00 (UK time) / 04.00 am (New
York time), on February 10, 2009. The dial-in numbers are:

France: +33 (0)1 70 99 42 71     Germany: +49 (0)69 2222 2244
Sweden: +46 (0)8 5352 6440     The Netherlands: +31 (0)20 713 3422
UK: +44 (0)20 7138 0826          US: +1 212 444 0481

Please dial in 10 minutes prior to the start of the conference call
to allow time for registration. The conference call will also be
available as a link on the Tele2 corporate website www.tele2.com,
both live and in an archived version.

Contacts
Harri Koponen, President and CEO
Telephone: +46 (0)8 5626 4000

Lars Nilsson, CFO
Telephone: +46 (0)8 5626 4000

Lars Torstensson, Investor Relations
Telephone: + 46 (0)8 5620 0042

TELE2 IS ONE OF EUROPE'S LEADING ALTERNATIVE TELECOM OPERATORS.
Tele2's mission is to provide price leading and easy to use
communication services. Tele2 always strives to offer the market's
best prices. We have 24 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 OMX Nordic Exchange since 1996. In 2008, we
had net sales of SEK 39.5 billion and reported an operating profit
(EBITDA) of SEK 8.2 billion.