ANNOUNCEMENT OF FIRST SETTLEMENT OF OFFERS ON SHARES AND BONDS - Tele2

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Oct 14, 2005 12:15 PM CET

ANNOUNCEMENT OF FIRST SETTLEMENT OF OFFERS ON SHARES AND BONDS

This is a joint press release of Versatel Telecom International N.V. ("Versatel"), Tele2 Finance B.V. ("Tele2") and funds advised by Apax Partners ("Apax") in relation to the recommended cash offer for the shares and convertible notes in Versatel. Not for release, publication or distribution, in whole or in part, in or into Australia, Canada, Italy or Japan.

Further to the earlier press releases of 18 July 2005, 17 August 2005, 8 September 2005 and 13 September 2005 by Tele2, Apax and Versatel, the press release of 10 October 2005 by Tele2 and Apax, as well as to the offer memorandum of 14 September 2005, Tele2, Apax and Versatel announce that a total of 387,423,035 ordinary shares in the capital of Versatel ("Shares") have been delivered to Tele2 as a result of the offer for all ordinary shares and a total of 1,250 3.875 per cent. convertible senior notes due 2011 convertible into ordinary shares in the capital of Versatel ("Bonds") have been delivered to Tele2 as a result of the settlement of the offer for all of the Bonds. Consequently, Tele2 now holds 74% of the issued and outstanding share capital of Versatel which, upon conversion of all the Bonds should all Bonds be converted into Shares, would be increased to approximately 77.25 per cent. of the consequently diluted share capital of Versatel. Apax and Versatel furthermore announce that they have completed the sale and transfer of Versatel Deutschland Holding GmbH to Ganymed 345.VV GmbH, a wholly owned subsidiary of Apax Europe VI-A, L.P. Further information can be obtained from: For Tele2 Lars-Johan Jarnheimer Telephone: + 46 8562 640 00 President and CEO Håkan Zadler Telephone: + 46 8562 640 00 CFO Per Borgklint Telephone: + 31 20 702 02 02 Market Area Director Benelux Dwayne Taylor Telephone: + 44 20 7321 5038 Investor Relations London Lena Krauss Telephone: + 46 8 562 000 45 Investor Relations Stockholm Sarah Hamilton Telephone: + 44 78 36 295 291 Nick Fox Telephone: + 44 77 11 727 618 M:Communications, London Anne Louise Van Lynden Telephone: + 31 65 4315 549 Carina Hamaker Telephone: + 31 65 3749 959 Investor Voice, Amsterdam For Apax Ira Wülfing Telephone: +49 89 200030 33 Communication For Versatel Wouter van de Putte Telephone: +31 20 750 2362 Investor Relations Cilesta van Doorn Telephone: +31 20 750 1318 Corporate Communications This press release is a public announcement as meant within article 9b paragraph 1 of the Bte 1995.

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