Tele2 Capital Market Day 2009: New financial targets for Tele2

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

The definition of a core business within Tele2 is that the EBITDA
margin should be 20 percent or more. Tele2's mobile operations on own
infrastructure should target mid 30 percent or higher over the long
term.

A long-term ROCE target of 20 percent is set for the Tele2 group, as
the company wants to lay particular stress on cost control and
optimal use of capital.

Lars Nilsson, CFO of Tele2, comments: "We need to continuously raise
the bar for our company and set demanding targets that challenge our
organization and keep us on our toes. I believe that this shows our
shareholders and lenders that Tele2's house is in order and that we
have a solid operational foundation to leverage on in the future."
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Further information can be obtained from:
Lars Torstensson, Investor Inquiries, Tel: +46 702 73 48 79
Pernilla Oldmark, Press Inquiries, Tel: +46 704 26 45 45

Tele2 is one of Europe's leading alternative telecom operators.
Tele2's mission is to provide affordable and easy connectivity for
everyone at anytime. Tele2 always strives to offer the market's best
prices. We have 25.4 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 2008, we
had net sales of SEK 39.5 billion and reported an operating profit
(EBITDA) of SEK 8.2 billion.