IN THE FIRST QUARTER 2004 TELE2 INCREASED ITS REVENUES BY 20% WHILE OPERATING CASH FLOW INCREASED TO SEK 1.6 BILLION

IN THE FIRST QUARTER 2004 TELE2 INCREASED ITS REVENUES BY 20% WHILE OPERATING CASH FLOW INCREASED TO SEK 1.6 BILLION New York and Stockholm - Wednesday, April 21, 2004 - Tele2 AB ("Tele2", "the Group") (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading and profitable alternative pan-European telecom operator, today announced its consolidated results for the first quarter ended March 31, 2004. - Operating revenue increased by 20% to MSEK 10,379 (MSEK 8,616) - Profit after tax increased to MSEK 286 (MSEK 187) - Earnings per share after tax increased to SEK 1.93 (SEK 1.27) - Net intake of 1.6 million customers - Cash flow after investing activities amounted to MSEK 1,211 (MSEK 372) - Operating revenue growth of 60% in Central Europe The figures shown in parenthesis correspond to the comparable periods in 2003 and all negative amounts are distinguished with a minus sign. CONTACTS Lars-Johan Jarnheimer Telephone: + 46 8 562 640 00 President and CEO, Tele2 AB Håkan Zadler Telephone: + 46 8 562 640 00 CFO, Tele2 AB Dwayne Taylor Telephone: + 44 20 7321 5038 Investor enquiries Lena Glader Telephone: + 46 70 762 0046 Investor enquiries Tele2 AB - company registration number: 556410-8917 Skeppsbron 18 P.O. Box 2094 SE-103 13 Stockholm Sweden Tel+ 46 8 562 000 60 Visit us at our homepage: http://www.Tele2.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/21/20040421BIT20080/wkr0006.pdf The full report