Tele2 AB (STO:TEL2B) 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 announces that it has completed the repurchase of 4,500,000 Tele2 B shares, which corresponds to approximately one (1) percent of all shares in Tele2. The Board of Directors will propose to cancel the repurchased shares at the next Annual General Meeting.

The shares have been purchased at an average price of SEK 102.10 per share. The Company currently owns 4,500,000 shares of Series B and 4,948,000 shares of Series C. The total number of outstanding shares in the Company of all Series currently amount to 449,799,339. ____________________________________________________________________ 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



LINK: http://hugin.info/133413/R/1252043/272365.pdf

Tele2 AB

ISIN: SE0000314312

Stock Identifier: XOME.TEL2B