Allotment of bonus shares

In accordance with terms relating to the subscription of shares in Telenor ASA, a total maximum of approximately 1.97 million bonus shares will be distributed today. Private individuals will be assigned one share for every tenth share they have held from the initial distribution, and up to December 3, 2001. The final number of bonus shares for distribution will be announced on December 5, 2001. The shares will be made available in individual VPS accounts from December 4. The shares distributed are Telenor's property.