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Oct 5, 2007 1:55 PM CET

Tele2 Russia acquires Telecom Eurasia from ZAO SMARTS for approximately SEK 160 million

Stockholm - Tele2 AB, ("Tele2"), (Stockholm Stock Exchange: TEL2 A and TEL2 B), Europe's leading alternative telecom operator, today announced that it has acquired Telecom Eurasia from ZAO SMARTS. Tele2 will pay in cash approximately SEK 160 million on a cash and debt free basis.

Telecom Eurasia operates an 1800 MHz GSM licence in the region of Krasnodar with a population of 5.1 million. Krasnodar borders to Rostov, which is one of the most successful regions of Tele2 Russia. The current customer base is 20,000. The acquired company will be integrated into Tele2's existing operations and will benefit from Tele2's successful brand and product strategies in Russia.
Johnny Svedberg, Market Area Director Russia & Baltic, comments: "The acquisition of Telecom Eurasia is an additional step in our continued expansion in Russia. This will give us the opportunity to be a part of the positive development in one of Russia's most populated regions, which also has been appointed host for the 2014 Olympic Winter Games. After completion of the transaction, Tele2 Russia will be present in 17 regions with total population coverage of 41 million."
Further information can be obtained from:
Lars-Johan Jarnheimer, President and CEO Tele2 AB, Tel: +46 8 5626 4000
Johnny Svedberg, Market Area Director Russia & Baltic, Tel: +46 8 5626 4000
Lars Torstensson, Investor Inquiries, Tel: +46 702 73 48 79
Lena Krauss, Investor Inquiries, Tel: +46 8 5620 0045
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 29 million customers in 18 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 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. For more information, visit www.tele2.com.

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