Tele2 AB : Full Year and Fourth Quarter 2011 Report

Stockholm - Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today
announced its consolidated results for the full year and fourth quarter 2011.
"Offering the Best Deal is our business"

"Today's results show the strength of Tele2. In Q4 net sales, less exchange rate
adjustments, grew by 8 percent to SEK 10,839 (10,109) million and EBITDA reached
SEK 2,791 (2,488) million, at a margin of 26 (25) percent.
This quarter also confirmed the momentum of Tele2's growth during 2011 with the
completion of acquisitions in Norway (Network Norway), and in Austria (Silver
Server), the launch of 12 out of 16 regions in Kazakhstan and the acquisition of
spectrum in Sweden, Estonia, Lithuania, Latvia and Kazakhstan to contribute to
our data strategies. We won 6 new regions in Russia, bringing our total to 43
(37)."

Financial highlights
Net sales amounted to SEK 10,839 (10,109) million corresponding to a growth
excluding exchange rate difference of 8 percent in the quarter. EBITDA in Q4
2011 amounted to SEK 2,791 (2,488) million, equivalent to an EBITDA margin of
26 (25) percent. EBITDA growth excluding exchange rate differences was 13
percent.

Strong EBITDA contribution in market area Russia
In Q4 2011, Tele2 Russia added 250,000 (755,000) customers leading to a total
customer base of 20.6 (18.4) million. EBITDA amounted to SEK 1,209 (899)
million, equivalent to an EBITDA margin of 40 (34) percent.

Robust mobile revenue growth in market area Nordic
Mobile revenue in Sweden grew by 7 percent, as customer demand for smartphones
and data services remained strong during the quarter. Tele2 Norway and Network
Norway were fully integrated in the quarter, creating the third largest mobile
operator in the country.

Significant operational progress in market area Central Europe & Eurasia
During the quarter, Tele2 Kazakhstan continued its successful launch of new
regions, resulting in a customer intake of 249,000 (114,000). The total customer
base amounted to 1,371,000 (332,000). The Baltic countries drove further cost
cutting in the quarter, maintaining their firm EBITDA margin development.

Improved margin development in fixed broadband in market area Western Europe
Tele2 Netherlands expanded its fixed broadband margin further to 36 (29) percent
thanks to further scale benefits from the BBned acquisition. In the quarter,
Tele2 Austria announced the acquisition of Silver Server, strengthening its
position in the business segment.

The Board of Directors proposed a dividend for 2011 amounting to SEK 13.00
The Board of Tele2 AB decided to recommend an increase in the ordinary dividend
of 8 percent to SEK 6.50 (6.00) per share in respect of the financial year
2011. The Board also decided to recommend an extraordinary dividend of SEK 6.50
(21.00).

The Interim report is available on reports.tele2.com/2011/Q4

Telephone conference
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 Tuesday, February 7, 2012. The conference call will be held in English and
also made available as an audiocast on Tele2's dedicated Q4 2011 website,
reports.tele2.com/2011/Q4.

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

Contacts
Mats Granryd
President & CEO
Telephone: + 46 (0)8 5620 0060

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

Lars Torstensson
Group Director, Corporate Communication
Telephone: + 46 (0)8 5620 0042

Tele2 is one of Europe 's leading telecom OPERATORS, always providing the best
deal. We have 34 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 NASDAQ OMX Stockholm since
1996. In 2011, we had net sales of SEK 41 billion and reported an operating
profit (EBITDA) of SEK 10.9 billion.

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