Issue and repurchase of Class C shares under incentive programme

By virtue of authorisation from the Extra General Meeting of
shareholders on 28 August 2007, the Board of Directors has resolved
to increase the share capital by SEK 5,122,500 through a private cash
placement of 4,098,000 new Class C shares aimed at Nordea Bank AB
(publ) ("Nordea"), each with a quota value of SEK 1.25, at a
subscription price of SEK 1.25 per share. The Class C shares do not
entitle to dividends and represent one vote each. Furthermore, the
Board of Directors has revolved upon immediate repurchase of all
4,098,000 Class C shares from Nordea at a price corresponding to the
subscription price.

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Further information can be obtained from:
Lena Krauss, Investor inquiries, Telephone: +46 8 5620 0045
Lars Torstensson, Investor inquiries, Telephone: +46 702 73 48 79

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.