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Sep 5, 2008 7:06 PM CET

Update on share repurchase by Tele2

Stockholm - Tele2 AB, ("Tele2"), (OMX Nordic Exchange: TEL2 A and TEL2 B), further to the announcement of the start of the repurchase of B shares on 3 September 2008, Tele2 AB ("Tele2" or "the Company") announces that it has repurchased 1,791,700 number of shares of the Company against an average price of SEK 103.68. It is the intention of the Company to cancel the repurchased shares.

Further information can be obtained from:
Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79
Tele2 is one of Europe's leading alternative telecom operators. Tele2's mission is to provide price leading and easy to use communication services. Tele2 always strives to offer the market's best prices. We have 24 million customers in 12 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. 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 the OMX Nordic Exchange since 1996. In 2007, we had net sales of SEK 41.5 billion and reported an operating profit (EBITDA) of SEK 6.3 billion. Please visit us at www.tele2.com

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