Tormod Hermansen reinstalled as CEO of Telenor

Press release
The board of Telenor AS has reinstalled Mr. Tormod Hermansen as the companys Chief Executive Officer from 1 January 2000. Hermansen is now formally CEO of Newtel AB - the Telenor/Telia merged company which is to be dissolved following the decision to end the merger.
Mr. Peter Pay, who has been acting CEO of Telenor since 29 April 1999, will from the same date return to his former position as Executive Vice President.

Arnfinn Hofstad,
Chairman of the Board