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Tele2 wins license in the 800 MHz auction in Sweden

Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B), today announced that Tele2 Sweden has been awarded a mobile license of 2x10 MHz in the 800 MHz frequency band through the network company Net4Mobility for approximately SEK 769 million.

The frequencies will be used in the roll out of Sweden's most comprehensive 4G network where SEK 300 million of the purchase price will be used to build 4G coverage to those households that today lack broadband coverage. The ambition is to cover 99% of the Swedish households by the end of 2012. With 4G Tele2's customers can already surf at speeds up to 80 Mbps and the network is rolled out continuously over Sweden.

Niclas Palmstierna, CEO of Tele2 Sweden, comments: "The frequencies add another dimension to our award-winning 4G network and enable us to challenge the monopoly that currently may be deemed to exist in the fixed broadband market. The fact that we also can use a large amount of the purchase price to further strengthen our coverage, we will be able to offer a superior 4G coverage in all parts of Sweden. I am convinced that our customers will be the big winners as Tele2 always combine price leadership with quality".

The purchase price will be financed equally by Tele2 Sweden and Telenor Sweden where SEK 469 million are paid to the State and SEK 300 million will be used to build infrastructure in rural areas. The license is valid for 25 years.

About Net4Mobility
Net4Mobility is an infrastructure joint venture between Tele2 Sweden and Telenor Sweden. The company's mission is to build and operate a network for the next generation mobile communications, 4G. The mobile network will cover 99 percent of the population and allow Tele2 and Telenor to offer its customers mobile services for data communication (LTE/4G) and voice (GSM). Net4Mobility was formed in April 2009.

Further information can be obtained from:
Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79
Annika Kristersson, Press Inquiries, Tel: +46 704 26 41 28

TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE BEST DEAL. We have 31 million customers in 11 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 NASDAQ OMX Stockholm since 1996. In 2010, we had net sales of SEK 40.2 billion and reported an operating profit (EBITDA) of SEK 10.3 billion.