Tele2 Builds in Norway

STOCKHOLM -- Tele2 AB, ("Tele2"), (Stockholm Stock Exchange: TEL2 A and TEL2 B), Europe's leading alternative telecom operator, today announced that Tele2 Norway AS and Network Norway AS have entered into an agreement to build the third mobile network in Norway. Tele2 Norway has acquired 50 percent of the shares in AMI AS, AMI being the owner of a GSM 900 license.

The joint company, AMI, aims to build out a mobile network covering a large proportion of the Norwegian population. The roll out has already started and during the first phase the plan is to build out 400-500 base stations. The company will also investigate alternatives for providing future 3G services.

Niclas Palmstierna, Market Area Director Nordic, comments; "This joint network ensures that Tele2 can continue being the price leading mobile operator in the Norwegian market. With a customer base of more than 400,000, the timing is right for investing in our own infrastructure. We are pleased with the agreement with Network Norway and the roll out has already taken place."

The joint network will be a compliment to Tele2's existing MVNO and National Roaming Agreement with NetCom, which guarantees our customers a broad coverage during the roll out phase.

Lars-Johan Jarnheimer, President and CEO of Tele2, comments; "This agreement is well in line with our strategic focus. We are very optimistic about our Norwegian mobile operations, where we have a strong market position and large traffic volumes."

Tele2 AB (Nasdaq: TLTO)