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Press release Tele2 Group Oct 23 2006, 11:01 AM CET

TELE2 ACQUIRES 49% OF THE SHARES IN SPRING MOBIL

Stockholm - Tele2 AB, ("Tele2"), (Stockholm Stock Exchange: TEL2 A and TEL2 B), Europe's leading alternative telecoms operator, today announced that it will acquire 49% of the shares in Spring Mobil with an option to acquire the remaining shares in the first quarter of 2009. Spring Mobil is the telecom operator with the fourth Swedish GSM license. Spring is the first operator in the world only focusing on the growing, fixed-to-mobile market for enterprises.  The closing of the agreement is dependent on the approval by Konkurrensverket (the Swedish competition authorities).
 
Spring Mobil has been an enterprise fixed-to-mobile operator for two years. It has developed a unique position in the Swedish market with its "OnePhone" solution for fixed and mobile telephony, which is targeting the business market in Sweden. The "OnePhone" solution works with standard GSM/3G phones, in combination with a small GSM/3G network inside the customer's office and by using a MVNO agreement with Tele2 outside the office. To date, Spring Mobil has signed long term contracts with around 400 enterprises.
 
With this agreement, Tele2 and Spring Mobil will work more closely together, not only addressing the SME market but also larger enterprises and organizations. The agreement also gives Tele2 access to use parts of the frequencies in Spring's GSM license. The total investment from Tele2 is estimated to be 150 MSEK.
 
Lars-Johan Jarnheimer, President and CEO of Tele2, commented "This agreement expands our existing MNVO relationship with Spring Mobil. It gives us access to a new product and service offering and an excellent opportunity to broaden our sales effort into the small and medium sized business segment, in order to secure the possibility of further growth".
 
CONTACTS
Lars-Johan Jarnheimer                                   Telephone: +46 8 5626 4000
President and CEO, Tele2 AB
 
Niclas Palmstierna                                           Telephone: +46 8 5626 4000
CEO, Tele2 Sverige AB
 
Håkan Zadler                                                    Telephone: +46 8 5626 4000
CFO, Tele2 AB
 
Dwayne Taylor                                                  Telephone: + 44 20 7321 5038
Investor enquiries
 
Visit our web site at www.tele2.com

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