Telenor: Letter from Altimo absurd and unfounded

Afteran initial review of theletter and its attachments, Telenor findsthat thedocuments eitherhave nothing to do withTelenor orhave been clearly altered or forged. In addition, a number of the entities named in the attachments to the letter have nothing to do with Telenor. Telenor therefore cannot takethe accusations seriously.

The letter from Altimodiverts attentionfrom moreimportant issues, such as the upcominghearing in the Farimex casein Omsk in Siberia on November 18th.Altimo's letter can be ignored. The efforts to seize Telenor's shares in VimpelCom through the Farimex litigation cannot be ignored.Telenor hopes the media will focus not on these absurd allegations and unreliable documents, but on the ongoing efforts to undermine Telenor's ownership interests in VimpelCom and Kyivstar.

Contact:
Dag Melgaard, Group Communications, Telenor ASA
tel: (+47)901 92000