Tele2 divests Tele2 Switzerland to TDC Sunrise for approximately SEK 300 million

Stockholm - Tele2 AB, ("Tele2"), (OMX Nordic Exchange: TEL2 A and
TEL2 B), today announced that it has sold its Swiss operation to TDC
Sunrise. TDC Sunrise will pay in cash approximately SEK 300 million
on a debt and cash free basis. Completion is expected following
approval from the relevant regulatory authorities.

At the end of June 2008, Tele2 Switzerland had approximately 105,000
mobile customers, 305,000 fixed telephony customers and 81,000 fixed
broadband customers. Tele2 Switzerland affected Tele2's operating
revenue in the first half of 2008 by SEK 678 million and EBITDA by
SEK -16 million.

The transaction will result in a goodwill impairment loss of
approximately SEK -434 million in Q3 2008.
____________________________________________________________________
Further information can be obtained from:
Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79

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 23 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 2007, we
had net sales of SEK 41.5 billion and reported an operating profit
(EBITDA) of SEK 6.3 billion. Please visit us at www.tele2.com