Interim Report January-September 2009

Stockholm - Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2
B) today announced its consolidated results for the third quarter
2009.

"Tele2's future growth lies within our emerging market footprint,
with a strong emphasis on Russia."

"In its initial phase, the roll-out of new regions in Russia has
shown a development in line with or better than our own expectations.
A positive sign is that our more mature regions have experienced a
prolonged customer growth and expanded operational profitability."

Financial highlights
During Q3 2009, net sales amounted to SEK 9,763 (9,520) million, an
increase of 3 percent, while EBITDA increased by 6 percent to SEK
2,375 (2,240) million.

Solid customer intake in Sweden
Tele2 Sweden's mobile operations added 107,000 (127,000) customers in
Q3 2009, of which 48,000 (28,000) customers were postpaid mobile
voice and postpaid mobile internet customers.

Early success in roll-out of new regions in Russia
7 of the new regions were launched in Russia during Q3 2009, leading
to a total customer intake of 1,100,000 (449,000). Despite a strong
emphasis on rolling out new mobile operations, the total EBITDA
margin of Tele2 Russia amounted to 31 (36) percent.

Stable operational development in the Baltic region and in Croatia
Tele2's Baltic operations gained customer market share in Q3 2009
adding 28,000 customers in spite of a difficult economic environment.
In Croatia, Tele2 improved the operational performance and is aiming
for EBITDA break-even by 2H 2010.

Strong operational contribution from Western Europe
Tele2 Netherlands prolonged the expansion of its EBITDA margin and
delivered 26 (21) percent in Q3 2009. In Austria, the restructuring
resulted in good operational progress in the quarter with an EBITDA
contribution of SEK 102 (24) million. In Q4 2009, Tele2 sold its
French operations for SEK 575 million.

The Interim report is available on www.tele2.com.

Interim result conference call
Tele2 will host a conference call, with an interactive presentation,
for the global financial community at 10.00 am CET (09.00 am UK
time/04.00 am NY time) on Wednesday, October 21, 2009. The conference
call will be held in English and also available as audiocast on
Tele2's website, www.tele2.com.

Dial-in information:
To ensure that you are connected to the conference call, please dial
in a few minutes before the start of the conference call to register
your attendance.

Dial-in numbers:
Sweden: +46 8 505 598 53
UK: + 44 203 043 24 36
US: + 1 866 458 40 87

You will also be in a position to listen to the conference call
afterwards:
Replay number until November 4, 2009:
Sweden: +46 8 506 269 49
Passcode: 1750100#

Contacts
Harri Koponen, President and CEO
Telephone: +46 (0)8 5620 0060

Lars Nilsson, CFO
Telephone: +46 (0)8 5620 0060

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

TELE2 IS ONE OF EUROPE'S LEADING TELECOM
OPERATORS, ALWAYS PROVIDING THE BEST DEAL. We have 26 million
customers in 10 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 38.3 billion
and reported an operating profit (EBITDA) of SEK 8.2 billion.