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News Tele2 Group Jul 26 2005, 6:00 AM CET

TELE2: INTERIM REPORT JANUARY–JUNE 2005

Stockholm – Tuesday, July 26, 2005 – Tele2 AB (“Tele2”, “the Group”) (Stockholmsbörsen: TEL2A and TEL2B), Europe’s leading alternative telecom operator, today announced its consolidated results for the second quarter ended June 30, 2005.

■ Swedish Mobile telephony reported an EBITDA margin of over 45% for Q2 2005■ EBITDA for Q2 2005 increased to MSEK 1,689 (1,671)■ Operating revenue for the first six months increased by 12% to MSEK 23,622 (21,090)■ Profit after tax for the first six months amounted to MSEK 1,159 (1,437)■ Earnings per share for the first six months amounted to SEK 2.62 (3.20)Lars-Johan Jarnheimer, President and CEO of Tele2 AB commented:“Since Tele2 last reported in April, we have taken some significant steps in positioning our business for the coming years, ensuring that Tele2 is well placed to meet the opportunities and challenges ahead.In July we acquired Comunitel in Spain, which provides an excellent platform on which to build our Spanish business. Also in the same month, we announced our intended public bid for Versatel, which immeasurably strengthens our operations in the Netherlands and Belgium. In addition, in mid-June we launched our long awaited mobile services in France and have accelerated our ADSL marketing there, on the back of our agreement with Neuf Telecom.I am very encouraged by our performance in the second quarter. Our revenues grew by more than 12%, as against Q2 2004 and EBITDA increased to MSEK 1,689.I would especially like to mention Swedish mobile telephony, which produced an excellent result this quarter with a rise in margins to 45%, mainly as a result of the ongoing success of our Comviq Knock-out offer. We also successfully introduced a copy of Knock-out, called Champion, in Norway.In Baltic & Russia, revenues grew by 23% and we had our highest ever customer intake of 521,000. In Central Europe, primarily due to the UTA acquisition, revenues grew sharply but what is notable, is the significant rise in Central Europe’s EBITDA margin to 8%.Tele2 will continue to develop its product offering across Europe, while maintaining our goal of balancing cash flow, growth and profitability.”CONTACTS Lars-Johan Jarnheimer, Telephone: + 46 (0)8 562 640 00 President and CEO, Tele2 AB Håkan Zadler, Telephone: + 46 (0)8 562 640 00 CFO, Tele2 AB Dwayne Taylor, Telephone: + 44 (0)20 7321 5038 Lena Krauss, Telephone: + 46 (0)8 562 000 45 Investor enquiries Visit us at our homepage: www.tele2.com

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