ANNOUNCEMENT OF FIRST SETTLEMENT OF OFFERS ON SHARES AND BONDS
Further to the earlier press releases of 18 July 2005, 17 August 2005, 8 September 2005 and 13 September 2005 by Tele2, Apax and Versatel, the press release of 10 October 2005 by Tele2 and Apax, as well as to the offer memorandum of 14 September 2005, Tele2, Apax and Versatel announce that a total of 387,423,035 ordinary shares in the capital of Versatel ("Shares") have been delivered to Tele2 as a result of the offer for all ordinary shares and a total of 1,250 3.875 per cent. convertible senior notes due 2011 convertible into ordinary shares in the capital of Versatel ("Bonds") have been delivered to Tele2 as a result of the settlement of the offer for all of the Bonds. Consequently, Tele2 now holds 74% of the issued and outstanding share capital of Versatel which, upon conversion of all the Bonds should all Bonds be converted into Shares, would be increased to approximately 77.25 per cent. of the consequently diluted share capital of Versatel.Apax and Versatel furthermore announce that they have completed the sale and transfer of Versatel Deutschland Holding GmbH to Ganymed 345.VV GmbH, a wholly owned subsidiary of Apax Europe VI-A, L.P.Further information can be obtained from:For Tele2Lars-Johan Jarnheimer Telephone: + 46 8562 640 00President and CEOHåkan Zadler Telephone: + 46 8562 640 00CFOPer Borgklint Telephone: + 31 20 702 02 02Market Area Director BeneluxDwayne Taylor Telephone: + 44 20 7321 5038Investor Relations LondonLena Krauss Telephone: + 46 8 562 000 45Investor Relations StockholmSarah Hamilton Telephone: + 44 78 36 295 291Nick Fox Telephone: + 44 77 11 727 618M:Communications, London Anne Louise Van Lynden Telephone: + 31 65 4315 549 Carina Hamaker Telephone: + 31 65 3749 959Investor Voice, Amsterdam For ApaxIra Wülfing Telephone: +49 89 200030 33CommunicationFor VersatelWouter van de Putte Telephone: +31 20 750 2362Investor RelationsCilesta van Doorn Telephone: +31 20 750 1318Corporate CommunicationsThis press release is a public announcement as meant within article 9b paragraph 1 of the Bte 1995.