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Mandate Telenor increases its ownership portion in Glocalnet

July 20, 2006

Telenor ASA, through its wholly-owned Swedish subsidiary TBS Infrastructure AB, is making a public offer to the shareholders and owners of subscription options issued by Glocalnet AB to transfer their shares and subscription options to Telenor. The offer is being put forth in accordance with the mandatory bid rules of the Swedish Industry and Commerce Stock Exchange Committee regarding public offers to acquire shares.

Vinge acted as advisor to Glocalnet, and representatives from Vinge included Johan Winnerblad and Pontus Enquist.

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