Press release Tele2 Group May 14 2002, 12:46 PM CET

TELE2 AGM update shows continued strong growth across operations

New York and Stockholm - May 14 2002 - Tele2 AB ("Tele2", "the Group") (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading alternative pan-European telecommunications company, today announces a trading update for the month of April 2002, ahead of its Annual General Meeting, which is to be held this Thursday 16 May, 2002.

EBITDA for April 2002 MSEK 382 (includes MSEK 29 relating to court case with Telia*), (April 2001, MSEK 41)
MSEK 2,598* Revenue for April (April 2001, MSEK 2,016)
Total Customers at April 30th 2002, 15.8 million
Total EBITDA margin for April, 15%, for mobile in Sweden 56%, for fixed line in Sweden, 20%

Lars-Johan Jarnheimer, President and CEO of Tele2 AB stated:

"In the light of the upcoming AGM, we have announced our April results to demonstrate that we continue to develop according to our stated plans. Tele2 continues to show an improving performance across its operations. This improvement in EBITDA for the month builds on the strong first quarter and when seen in context of the continued customer intake, it shows that Tele2 continues to achieve the dual target of profitability and customer growth."

Financial highlights

SEK millions	April 2002	April 2001
Operating Revenue*	2,598	2,016
Operating Profit
before depreciation and amortization (i)*	382	41

EBITDA

* Numbers include MSEK 29 relating to Tele2 winning a case in the administrative court against Telia regarding payment principles for interconnection

CONTACTS:
Lars-Johan Jarnheimer Telephone: + 46 8 562 640 00, President and CEO, Tele2 AB

Håkan Zadler, CFO, Tele2 AB Telephone: +46 8 562 640 00

Andrew Best, Investor and Media Relations Telephone: +44 7798 576378

Visit our web site at www.tele2.com

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