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Telenor invests in business-to-business in Finland

Not for distribution in the US, Canada, Australia or Japan.

Telenor Media has purchased 60 per cent of the Finnish company Telefakta Telemarketing OY, with the intention of establishing a new business-to-business (B2B) concept in Finland.

- This acquisition will give us key access to the Finnish market, which strategically is very interesting for us. It is also an excellent opportunity to try out a new electronic product abroad, says Peter Darpö, President of Telenor Media.

Telefakta Telemarketing’s B2B solution will fill an empty niche in the Finnish market. The product is supported by an extensive database of in-depth information about Finnish businesses, primarily distributed via the Internet. The main elements of the concept include self-updating Yellow Pages information on all Finnish businesses, supplemented with general business information and services.

In Norway, Telenor Media publishes all national telephone directories (printed and on CD-ROM), the Yellow Pages (printed, Talking Yellow Pages, Internet and WAP), local telephone directories and a number of other information products. Internationally, the company is represented in Spain, France, Iceland, Finland, Poland, Russia, the Czech Republic and the Baltic states.

- We regard Telenor Media as an exciting international partner in Finland, and are looking forward to a fruitful cooperation, says Timo Hiltunen, Managing Director of Telefakta Telemarketing OY.

In 1999, Telefakta Telemarketing OY had a turnover of FIM 11.8 million, and an after-tax profit of FIM 2.6 million. The company was founded in 1998 by its current owner and Managing Director, and has about 30 employees.

For further information, contact:

Vice President of Telenor Media’s International Operations, Jesper Simonsen
Tel: (+47) 22 77 12 99 or mobile (+45) 40 15 18 38

Please note: This is not an offer of Securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or exempt from registration. Any public offering of Securities in the United States will be made by means of a Prospectus that may be obtained from Telenor or the Norwegian State and that will contain detailed information about the Company and Management, as well as financial statements. Telenor and the Norwegian State currently may register securities for sale in the United States.