Tele2 appeal The County Administrative Court's declined on deduction

Stockholm - Tele2 AB, ("Tele2"), (OMX Nordic Exchange: TEL2 A and
TEL2 B), today announced that the company has not been allowed to
deduct the capital loss of SEK 13.9 billion, which was associated
with the liquidation of S.E.C. S.A. in 2001. The County
Administrative Court has declined a deduction with reference that the
capital loss could not be considered real. Tele2 will appeal the
decision made by the County Administrative Court.

In 2000, Tele2 acquired the outstanding majority of the listed entity
S.E.C. S.A.. The assets and liabilities of S.E.C. S.A. were, in
connection with a restructuring, transferred to a new legal entity.
At the time of the transfer, S.E.C. S.A.'s value was decided by an
independent valuation which showed a decrease in the market valuation
of the operation. As a result, Tele2 claimed a tax deduction for the
established loss.

The Tax Authority did not agree that the deduction of SEK 13.9
billion should be allowed and the matter has now been assessed by the
County Administrative Court. The Court has refused Tele2's claim for
deduction related to capital loss. The decision by the County
Administrative Court will lead to increased tax payments of
approximately SEK 3.9 billion since the capital loss has already been
deducted against earlier years' profits. Tele2 considers that the
prerequisite for a deduction has been fulfilled and no reservation
has been made for the increased tax payments. An independent
valuation of S.E.C. S.A. has shown that the capital loss to be real.
Support for Tele2's claim for deduction can also be found in court
practice. Tele2 will appeal the decision made by the County
Administrative Court.
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Further information can be obtained from:
Lars Nilsson, CFO, Tel: +46 8 5626 4000
Lars Torstensson, Investor Inquiries, Tel: +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 24 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 40.1 billion and reported an operating profit
(EBITDA) of SEK 6.3 billion. For more information, visit
www.tele2.com.