Telenor acquires Tiscali's Norwegian branch

The Norwegian broadband market is experiencing strong growth and is expected to add more than 200,000 new mass-market customers in 2004. There are approximately 150 suppliers in the market today and competition is strong. From Telenor's point of view the level of competition will not be influenced by the acquisition, neither with regards to price- nor market development.

"Tiscali has been a reseller of Telenor wholesale products and since the company has decided to withdraw from the Norwegian market, it is natural for us to seek to acquire and continue the customer relationships", says Morten Karlsen Sørby, Executive Vice President in Telenor. "We look forward to the competition authorities' processing of this case and hope for a quick resolution."

Both Tiscali and Telenor offer Internet services nationwide and there will be no practical consequences for the customers when this acquisition is conducted.

"We hope Tiscali's customers will benefit from and enjoy our highly competitive offers with a wide range of innovative and advanced services. Telenor offers the best security products as an integral part of the subscriptions and broadband customers will have access to the content portal iCanal incorporating a variety of games, music and video," said Morten Karlsen Sørby.

About Tiscali

Tiscali S.p.A., (Nuovo Mercato, Milan: TIS, Nouveau Marchة, Paris: 005773), is the European Internet Communication Company providing broadband and narrowband access for consumer and business applications as well as innovative communications services and contents. In Norway Tiscali was introduced as World Online June 14 2000. The company changed its name to Tiscali AS in October 2001.

For further information, please contact:

Vice President Communications Telenor Norge, Pål Kvalheim, tel: (+47) 970 44 970