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Dec 6, 2007 8:32 AM CET

Issue and repurchase of Class C shares under incentive programme

Stockholm - Tele2 AB, ("Tele2"), (OMX Nordic Exchange Stockholm: TEL2 A and TEL2 B), today announced that the Board of Directors resolved to issue and immediately thereafter repurchase 4,098,000 new Class C shares. The purpose of the issue and the repurchase, and the reason for derogation from the shareholders' pre-emption rights, is to ensure delivery of Class B shares to employees in the Group under the performance based incentive programme that was adopted at the Extra General Meeting of shareholders on 28 August 2007, by subsequently reclassifying these Class C shares into Class B shares.

By virtue of authorisation from the Extra General Meeting of shareholders on 28 August 2007, the Board of Directors has resolved to increase the share capital by SEK 5,122,500 through a private cash placement of 4,098,000 new Class C shares aimed at Nordea Bank AB (publ) ("Nordea"), each with a quota value of SEK 1.25, at a subscription price of SEK 1.25 per share. The Class C shares do not entitle to dividends and represent one vote each. Furthermore, the Board of Directors has revolved upon immediate repurchase of all 4,098,000 Class C shares from Nordea at a price corresponding to the subscription price.  
Further information can be obtained from:
Lena Krauss, Investor inquiries, Telephone: +46 8 5620 0045
Lars Torstensson, Investor inquiries, Telephone: +46 702 73 48 79
Tele2 is Europe's leading alternative telecom operator Tele2's mission is to provide cheap and simple telecoms for everyone in Europe. Tele2 always strives to offer the market's best prices. We have 25 million customers in 15 countries. Tele2 offers fixed and mobile telephony, broadband, data network services and cable TV. 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 OMX Nordic Exchange Stockholm since 1996. In 2006 we had operating revenue of SEK 50.3 billion and we reported an operating profit (EBITDA) of SEK 5.7 billion.

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