Changes in Telenor's Corporate Management

Senior Executive Vice President, Mr. Jon Fredrik Baksaas (47), has been appointed Deputy Chief Executive Officer of Telenor ASA, effective 6 June this year. Mr. Baksaas has been employed by Telenor since 1989 and has been Senior Executive Vice President and member of the Corporate Management since 1997. Mr. Baksaas has a Master of Science Degree in Business from the Norwegian School of Economics and Business Administration and additional training from IMD in Lausanne, Switzerland.

Mr. Bjørn Formo (52) has been appointed Executive Vice President and member of the Corporate Management of Telenor ASA, effective 15 June 2001. Mr. Formo has been a Director with the Home Market Management in Telenor since January this year. Mr. Formo's responsibilities within the Corporate Management includes among other things, developing and organizing corporate governing systems and corporate strategies. Mr. Formo will also be an advisor to the CEO and run the Corporate Secretariat.

Mr. Formo has a Master of Science Degree in Business from the Norwegian School of Economics and Business Administration and has also previously been employed by Telenor, last as Deputy Managing Director of Telenor Bedrift (Business Solutions) until 1997. In the meantime he has worked as Managing Director of the IT company WiCom ASA and has headed Telia's business in Norway. Mr. Formo has 15 years previous experience from leading positions within Norwegian insurance, among other things three years as Managing Director of Storebrand Skadeforsikring (now part of If...) and as member of Storebrand's Corporate Management.

The Corporate Management of Telenor will after this consist of President and CEO, Mr. Tormod Hermansen, Deputy CEO, Mr. Jon Fredrik Baksaas, Senior Executive Vice President and CFO, Mr. Torstein Moland, Senior Executive Vice President, Mr. Arve Johansen, Executive Vice President and CTO, Ms. Berit Svendsen, Executive Vice President, Ms. Gun Bente Johansen, Executive Vice President, Mr. Henrik Torgersen, Executive Vice President, Mr. Jan Edvard Thygesen, Executive Vice President, Mr. Stig Eide Sivertsen, Executive Vice President, Mr. Morten Lundal and Executive Vice President, Mr. Bjørn Formo.