Tele2 announces financial targets

Riga - Tele2 AB ("Tele2"), (Stockholm Stock Exchange: TEL2 A and TEL2
B), Europe's leading alternative telecom operator, at its Capital
Market Day hosted in Riga, on Tuesday presented the financial hurdles
that it expects its operations to meet or exceed.

In the first stage, Tele2 has set an EBITDA hurdle of 20 percent in
the short to medium term, coincident with progress of the company's
Realignment Process.

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Further information can be obtained from:
Lars-Johan Jarnheimer, President and CEO Tele2 AB, Telephone: +46 8
5626 4000
Lars Nilsson, CFO Tele2 AB: +46 8 5626 4000
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 29 million customers in 22 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 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.