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Nov 16, 2004 5:00 PM CET


New York and Stockholm – Tele2 AB, (“Tele2”), (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading alternative pan-European telecommunications company, today announced that following the ongoing success of its Spanish fixed telephony operations, it is launching ADSL services in Spain with the best prices in the market.

Tele2 has signed an ADSL ULL agreement with Red Eléctrica Telecommunicaciones, a wholesale infrastructure operator. The geographical coverage of Red Eléctrica’s offer is gradually expanding and today it gives Tele2 access to the largest cities, such as Madrid, Barcelona and Málaga. Lars-Johan Jarnheimer, CEO of Tele2 said; “Including ADSL in our product offering in Spain is a natural step for us, following our successful fixed telephony launch in 2001.” CONTACTS Lars-Johan Jarnheimer, Telephone: + 46 8 562 640 00 President and CEO, Tele2 AB Håkan Zadler, Telephone: + 46 8 562 640 00 CFO, Tele2 AB Dwayne Taylor, Telephone: + 44 20 7321 5038 Lena Krauss, Telephone: + 46 8 562 000 45 Investor enquiries Visit us at our homepage: http://www.Tele2.com

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