Tele2 Capital Market Day 2011: New Financial Targets for Tele2's operations in Croatia

Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today
announced new financial targets for its operations in Croatia.

In Q3 2011, Tele2 Croatia will be free cash flow break-even. As a result, the
company is setting new financial targets.

The EBITDA margin for Tele2 Croatia's operation should reach 20 percent by Q3
2013.

Mats Granryd, President and CEO of Tele2, comments: "As promised, Tele2 Croatia
will be reaching cash flow break-even in the 2H 2011. Now we will aim higher and
ensure that our operation is on the right track to meet the overall group
targets."
Contacts

Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79
Pernilla Oldmark, Press Inquiries, Telephone: +46 704 26 45 45


TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE BEST
DEAL. We have 32 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 2010, we had net sales of SEK 40.2 billion and reported an operating
profit (EBITDA) of SEK 10.3 billion.

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