Interim Report January-September 2010

Stockholm - Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today
announced its consolidated results for the third quarter 2010.
"Offering the best price is the cornerstone of our business model"

"Tele2's results in the third quarter were strong, and the positive momentum in
our business continues in all our markets. We delivered all-time high
profitability, as we grew our customer base at a fast pace while improving
quality. Offering the best price is the cornerstone of our business model, and
we will defend the price position in each of our markets. Sustaining our market
position requires world-class cost control. We will continue to benchmark our
cost performance against our peers to make sure that we stay ahead of the
competition. We strive to understand customer needs and desires. The world of
telecoms is a challenging one and we are standing on the verge of a new era. We
monitor market trends closely in order to evolve our products and services,
shape our future and ensure long-term success", comments Mats Granryd, President
and CEO of Tele2 AB.

Financial highlights
Net sales in Q3 2010 amounted to SEK 10,007 (9,753) million, excluding one-off
items of SEK -9 (76) million. Including one-off items, net sales amounted to SEK
9,998 (9,829) million. EBITDA in Q3 2010 amounted to SEK 2,751 (2,441) million,
equivalent to an EBITDA margin of 27 (25) percent.

Record net customer intake and EBITDA contribution in market area Russia
In Q3 2010, Tele2 Russia added 1,170,000 (1,100,000) customers. During the
quarter, EBITDA amounted to SEK 1,011 (596) million and the third and fourth new
regions reached EBITDA break-even on a monthly basis.

Enhanced mobile revenue growth in market area Nordic
Mobile revenue in Sweden grew by more than 10 percent, driven by success in the
smart phone segment.

Market recovery in the Baltic region and further business improvement in
Croatia, driving sequential EBITDA improvement in market area Central Europe &
Eurasia
During the quarter, Tele2 Croatia added 81,000 (70,000) new customers, while
further improving the EBITDA contribution. In the Baltic region, the general
market continued its recovery, supporting Tele2's mobile operations in the
countries.

Further success in the corporate segment for market area Western Europe
In the corporate segment, Tele2 Netherlands was successful in extending the
binding period of several large customers. The restructuring of Tele2 Austria
led to further operational improvement in the quarter.

The Interim report is available on reports.tele2.com/2010/Q3

Result Meeting
Tele2 will present the Q3 2010 results at a meeting at Myntkabinettet,
Slottsbacken 6, Stockholm, at 10.00 am CET (09:00 am UK time/04:00 am NY time)
on Wednesday, October 20, 2010. The presentation will be held in English and
webcasted on Tele2's dedicated Q3 2010 website, reports.tele2.com/2010/Q3.

There will also be the possibility to listen to the meeting live over the phone
and attend the Q&A session via a conference call. Please note that there might
be a time lag of up to 30 seconds between the Internet broadcast and the
conference call if you are simultaneously watching and calling in to the press
conference.

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 (0)8 505 598 53
UK: +44 (0) 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, Investor Relations
Telephone: + 46 (0)8 5620 0042

Tele2 is one of Europe 's leading telecom OPERATORS, always providing the best
deal. We have 30 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 2009, we had net sales of SEK 39.5 billion and reported an operating
profit (EBITDA) of SEK 9.4 billion.



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