Tele2 Capital Markets Day 2011: New Financial Targets for Tele2's operations in Kazakhstan

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

At the end of August, Tele2 Kazakhstan reached a total customer base of
approximately 1 million. As a result, Tele2 expects its customer base in
Kazakhstan to be able to reach the range of 2.3-2.5 million customers by year-
end 2012.

The EBITDA margin for Tele2 Kazakhstan's operation should reach break-even by
2H 2013.

Tele2 Kazakhstan is targeting a long-term mobile customer market share of 30
percent.

Mats Granryd, President and CEO of Tele2, comments: "I am very pleased with the
way our Kazakh operations are currently developing. We have had a good start
with the introduction of our price-leading and easy-to-use mobile services in
the country and we will not stop until we are the indisputable Best Deal
provider in the country".
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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