Tele2 reports increased cash flow of sek 2.9bn after investments and revenue growth of 25% for 2002

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TELE2 REPORTS INCREASED CASH FLOW OF SEK 2.9bn AFTER INVESTMENTS AND REVENUE GROWTH OF 25% FOR 2002 New York and Stockholm - Tuesday, February 11, 2003 - Tele2 AB ("Tele2", "the Group") (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading alternative pan-European telecommunications company, today announced its consolidated results for the fourth quarter and year ended December 31, 2002. · Full year EBT increased by MSEK 2,740 to MSEK 796 · Full year cash flow increased by MSEK 2,903 to MSEK 1,849 after investments · 25% increase in full year revenues, by MSEK 6,197 to MSEK 31,282 · Q4 EBITDA MSEK 1,549, an increase of MSEK 916 compared to Q4 2001 · 6% EBITDA margin in Q4 for Central and Southern Europe fixed operations, leading to positive EBITDA for the full year · 746,000 net customer intake for Q4, excluding one time adjustment in Denmark* 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 Andrew Best Telephone:+ 44 20 7321 5022 Investor enquiries Visit us at our homepage: http://www.Tele2.com CONFERENCE CALL DETAILS A conference call to discuss the results will be held at 16:00 (Swedish time) / 10:00 (New York time), on 11 February 2003. The dial in number is: +44 (0)20 7162 0125and participants should quote 'Tele2 AB'. A live audio stream of the conference call can also be accessed at www.Tele2.com. Please dial in / log on 10 minutes prior to the start of the conference call to allow time for registration. An instantaneous recording of the conference call will be available for 48 hours after the call on +44 (0)20 8288 4459 access code 520252. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/11/20030210BIT01200/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/02/11/20030210BIT01200/wkr0002.pdf The full report

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