Press Releases

November

20 November 1998

Austrian AirPage take the company to court to make a compulsory composition

The owner of Austrian AirPage, Telenor of Norway, has for a year been in the market for a new owner of AirPage, but havent succeeded to find any. AirPage themselves has failed to make a private arrangement with their major creditors, and they had no other option than to take the company to court to make a compulsory composition. The biggest creditors in AirPage is in addition to Telenor Ericsson, Wibag and FGG.

20 November 1998

Telenor: Regulatory decision must be reconsidered

Telenor Mobil disagrees with the Norwegian Post and Telecommunications Authority's (PT) decision to allow Sense Communications access to the company's mobile network before the appeal has been finally decided. Telenor Mobil will therefore request the Ministry of Transport and Communications to independently review the question of suspensive effect of the decision.

October

30 October 1998

Telenor third quarter 1998

The Telenor Group's operating income at the end of the third quarter of 1998 amounted to NOK 20,697, which is a good 12 per cent more than in the same period last year. Profit before taxes at the end of the third quarter amounted to NOK 1,963 million, or NOK 324 million more than in the same period in 1997. "Continued strong growth in the market for network-based services, including satellite operations and mobile telephony, contributed to higher operating income. We expect this growth to continue throughout the remainder of the year and into 1999", says Torstein Moland, E.V.P. and Chief Financial Officer.

August

14 August 1998

Telenor buys more shares in Pannon GSM

Norwegian Telenor has bought part of the shares Tele Danmark has sold of its ownership shares in Pannon GSM in Hungary for approx USD 53 million (approx 400 MNOK). The present value of Pannon GSM indicates that the value of Telenors prior investment (approx USD 38 mill) in the company has increased more than five times to approx USD 200 million.

13 August 1998

Telenor – 1st half of 1998

In the first half of 1998, the Telenor Group recorded operating income of NOK 13,771 million, up 13.8 per cent compared to the same period last year. Profit before tax after the first six months of the year amounted to NOK 1,296 million, compared to NOK 965 million in the same period of 1997. Higher operating income and the improvement in profits reflect the strong growth in the market for network-based services, including satellite operations and mobile telephony, as well as realised sales gains of approximately NOK 370 million. "The result is satisfactory, and reflects sound growth in a number of the Group's business areas. Telenor is still registering a significant growth in traffic. We are pleased to note that the reorganisation of Telenor Bedrift is moving along as planned, and that the company is now reporting positive figures," says Torstein Moland, Executive Vice President and Chief Financial Officer.

July

24 July 1998

Telenor reports record high mobile phone subscriptions in Norway

The number of Norwegian mobile phone users increases as never before. During the first six months of this year, Telenor Mobil has sold no less than 167 118 new GSM subscriptions, an increase of 33 per cent compared to the same period last year. Telenor now records a total of 1.4 million mobile phone subscriptions

June

13 June 1998

VALUATION OF TELENOR

The following press release has been issued by The Royal Ministry of Transport and Communications: The Royal Ministry of Transport and Communications has obtained updated independent valuation reports on Telenor AS and its subsidiaries from Dresdner Kleinwort Benson and Elcon Securities. The investment banks indicate an appreciation of the equity value of Telenor to NOK 40 billion - NOK 50 billion from NOK 24 billion - NOK 30 billion over the last year, that is 67 per cent on the average.

10 June 1998

New channels at frequency changes at 1° West

- Once operational this August, Telenor's new Nordic broadcasting satellite THOR III will greatly expand the range of TV services available to DTH (direct-to-home) households, cable and SMATV operators in the Nordic and central European regions. However, the expansion will mean that the frequency and/or polarisation of some existing services will be changed from 1 August, says Morten Solbakken in Telenor Satellite's broadcasting division.

10 June 1998

Successful launch of Telenors new satellite

Telenors new communications satellite Thor III successfully blasted into orbit on a Delta II rocket from Cape Canaveral 20.35 Tuesday (02.35 Wednesday Norwegian/European time). With this launch, Telenor has strengthen its position "One Degree West" with a further 14 transponders. Thor III is the second communications satellite designed and developed for Telenor and it will cover the Nordic and Central European market.

4 June 1998

The 1998 Telenor Research Award goes to Professor Stephen Pink

The 1998 Telenor Research Award has been given to Professor Stephen Pink for his significant contributions to developing new capabilities in the Internet. The award money of NOK 250,000 was Thursday handed over in Kristiansand, at the Study Meeting - the annual gathering for the Norwegian electronics and computer trades.

May

19 May 1998

Telenor lands Slovakian network contract

The Slovakian government has awarded a new contract for backbone satellite network services to Telenor Satellite in Norway. Worth in excess of NOK 230 million over a five-year period, the contract is for network services linking together public administration entities in 90 locations across Slovakia.

19 May 1998

Thor III to open new frontiers

Scheduled for launch on 9 June, Telenor's newest broadcasting satellite THOR III is expected to open market frontiers for Telenor Satellite's media operations when it begins transmitting in early August 1998.

19 May 1998

Thor III ready for take-off in June

Final launch preparations are underway at Cape Canaveral, Florida, for the launch of Telenor's newest broadcasting satellite THOR III. The first possible window for the launch opens at 18:30 local Eastern Standard Time on 9 June (00:30 Wednesday, 10 June, in Norway and most of continental Europe).

12 May 1998

Telenor financial results for 1997

According to preliminary annual accounts for 1997 from Norways major telecommunications and IT company, Telenor, the Telenor Group recorded a 15.1 per cent increase in operating income, to NOK 25,518 million. Profits before taxes amounted to NOK 1,915 million, a decrease of approximately NOK 440 million from 1996. This was mainly due to expenses related to investments and start-up of activities outside of Norway. For domestic activities, the estimated profit before taxes rose by approximately NOK 410 million to NOK 2,300 in 1997. At the same time, the assessed value of the Group is increasingly positive, not least because of good developments in the company's operations abroad.

5 May 1998

Telenor has established new software company for telecom applications

Norways leading IT and telecommunications company Telenor has established a software company specialising in telecom applications. The new company will deliver consulting services and a modern family of IT-systems both within and outside the Telenor group

4 May 1998

Telenor, 1st quarter 1998

In the 1st quarter of 1998, the Telenor Group's consolidated operating income amounted to NOK 6,776 million, a 17.5 per cent rise compared to the same period last year. The operating profit in the 1st quarter amounted to NOK 774 million, compared to NOK 536 million in the same period in 1997. The growth in operating income and the improvement in the operating result come primarily from the growth in the market for network-based service.

March

30 March 1998

Telenor engaged in GSM mobile network in the Ukraine

Norwegian Telenor has signed a contract on a 35 per cent ownership share in ZAO Kyivstar GSM, operator of a GSM mobile network in Ukraine. The contract was signed in Oslo, 26th March, and involves investments of around 40 million USD on Telenors behalf.

February

20 February 1998

Talks on merger Telenor/Telia stranded

Talks between Norwegian Telenor and Swedish Telia on a possible merger between the two companies have ended resultless. The owners of the two companies, the Norwegian and the Swedish governments, did not succeed in reaching an agreement on equal balance between the two parties in a new merged company. The decision made by the Minister of Transport and Communication is in full harmony with the advice given by the board and management of Telenor.

18 February 1998

No Telenor/Telia-agreement yet

The Norwegian newspaper Dagens Næringsliv, today claims knowledge of the contents of an MoU, which the management of the the two companies, Telenor and Telia, are said to have agreed upon in a meeting Friday.

18 February 1998

Comments to stories in the press on Telia, Telenor and BT

The Norwegian newspaper Dagens Næringsliv and the Swedish newspaper Dagens Industri today claim knowledge of a said secret plan between the management of Telenor and Telia to offer BT a stake in a possibly merged new company. Such plans do not exist and has neither been a subject in the ongoing talks

11 February 1998

Telenor opens GSM mobile net in Stavropol

Late January this year, StavTeleSot opened its new GSM mobile network in Stavropol in Russia where approximately 350 000 inhabitants will have access to the new mobile service. Telenor holds a 49 per cent stake in the company.

10 February 1998

Telenor in talks with Telia

Talks between Norwegian Telenor and the Swedish telecom operator, Telia, have been in progress for some time, with the aim to propose a full merger between the two companies. The talks were temporarily stopped by the Norwegian government on Friday 16 January, but were soon resumed after pressure from a majority in the Norwegian Parliament.

2 February 1998

Telenor Announces New Price Structure

Norways Telenor will substantially reduce the cost of international calls and calls to cellular telephones as of 1 March 1998, thereby making Telenor the most competitive in Norway for these types of calls. Subscription prices will go up simultaneously to cover the cost of operating the subscription network. These changes are carried through in line with the new free-market guidelines recently set by Norwegian telecommunication authorities. Prices for local and long-distance calls will not be affected at this stage.

January

12 January 1998

VimpelCom and Telenor enter into strategic alliance

Open Joint Stock Company Vimpel-Communications («VimpelCom» or the «Company») (NYSE: VIP) and Telenor AS («Telenor») today announced that they have reached an agreement for Telenor to purchase a strategic ownership interest in VimpelCom.

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