CEO Axel Hjärne to leave Eltel

The CEO of Eltel, Axel Hjärne, has decided to leave his position. Axel Hjärne
has been with Eltel for twelve years, and he has been CEO for the last seven
years. Over these years Eltel has grown significantly from being a local Nordic
player to becoming the leader in the Infranet industry in Northern Europe. In
February 2015 Eltel was successfully listed on Nasdaq Stockholm.

“I have been with Eltel for more than a decade now during which the whole Eltel
team has been through many positive and challenging phases and together we have
made great achievements. Today, Eltel has a strong position and is well
positioned for continued success. I have now come to a point where I feel that
the timing is good to hand over to someone new and also personally reflect on my
next steps”, says Axel Hjärne. I have enjoyed the journey with Eltel
tremendously, and I will miss my great colleagues and all exciting business
opportunities.

“It is with great regret that I have learned of Axel’s plans to leave Eltel, but
I respect his personal decision. Axel has done an outstanding job in
restructuring, building and developing Eltel into a leading profitable company
in the Infranet industry. Axel is a modern leader and he has put in place a
strong and competent management team, fully committed to further develop the
Group”, says Gérard Mohr, Chairman of Eltel’s Board of Directors.

The Board has initiated a recruitment process for the replacement of Axel
Hjärne, who will remain in his position until a successor is in place.

The information above has been published pursuant to the Swedish Securities
Markets Act (Sw: Lag om värdepappersmarknaden) and the Swedish Financial
Instruments Trading Act (Sw: Lagen om handel med finansiella instrument). This
information was submitted for publication on 7 June 2016 at 8.00 CET.

For more information, please contact:
Ingela Ulfves
VP – IR and Group Communications
Tel: +358 40 311 3009,
ingela.ulfves@eltelnetworks.com (http://javascriptDeCryptX('2k1o3j3h3o2c0.1v0l3i
0 
v2g3v2B0e1m3w0e3o3q3h3w0w2q1s1l1t312e0o2o'))

About Eltel
Eltel is a leading European provider of technical services for critical
infrastructure networks – Infranets – in the segments of Power, Communication
and Transport & Security, with operations throughout the Nordic and Baltic
regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad
and integrated range of services, spanning from maintenance and upgrade services
to project deliveries. Eltel has a diverse contract portfolio and a loyal and
growing customer base of large network owners. In 2015 Eltel net sales amounted
to EUR 1,255 million. The current number of employees is approximately 9,600.
Since February 2015, Eltel AB is listed on Nasdaq Stockholm.approximately 8,600
and in 2014, Eltel net sales amounted to EUR 1,242 million. Eltel’s share is
listed on Nasdaq Stockholm since February 2015.