FORBES RANKS TELE2 AMONGST THE WORLD'S BEST BIG COMPANIES

New York and Stockholm - Tele2 AB, ("Tele2"), (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading alternative pan-European telecommunications company, is proud to be the only newcomer of the three Swedish companies represented on Forbes' list of the world's 400 best big companies. The categories that Forbes bases the list upon are: five-year sales and earnings growth; the past year's stock market performance; return on capital; and analysts' earnings expectations for the coming year.

CONTACTS

Lars-Johan Jarnheimer
President and CEO, Tele2 AB
Telephone: + 46 8 562 640 00

Håkan Zadler
CFO, Tele2 AB
Telephone: + 46 8 562 640 00

Dwayne Taylor, Investor enquiries
Telephone: + 44 20 7321 5038

Lena Krauss, Investor enquiries
Telephone: + 46 8 562 000 45

Visit us at our homepage: http://www.Tele2.com

Tele2 is Europe's leading and profitable alternative telecom operator. Tele2 always strives to offer the market's best prices. With our unique values, we provide cheap and simple telecom for all Europeans every day. We have close to 25 million customers in 24 countries. We offer products and services in fixed and mobile telephony, Internet access, data networks, cable TV and content services. Our main competitors are the former government monopolies. Tele2 was founded in 1993 by Jan Stenbeck and has been listed on Stockholmsbörsen since 1996. The share has also been listed on Nasdaq since 1997. In 2003 we had operating revenue of SEK 36,911 million and reported a profit of SEK 5,710 million (EBITDA).