Telenor's New Headquarters to Open on September 23


OSLO, Norway, Sept. 22, 2002 (PRIMEZONE) -- On Monday September 23, Telenor (Nasdaq:TELN) officially opens its new headquarters at Fornebu. Around 6000 employees previously located at 40 different addresses in the Oslo area are now working under the same roof. Norway's Prime Minister Kjell Magne Bondevik will conduct the official opening Monday night.

The opening of the new headquarters represents an important milestone in Telenor's history. Around 5000 guests from 10 countries are expected to attend the opening ceremony. Telenor has chosen to focus on one concentrated celebration rather than staging several smaller events as new groups have moved in successively since November 2001.

"Telenor's employees have moved into functional office premises with a total floor area of 137.000 square meters, where the ambition has been to create the Nordic region's leading workplace for innovative activities. The new Fornebumodel is built on the interaction between people, technology and working environment, exemplified by the fact that 6000 employees now have the opportunity to work practically anywhere anytime," said CEO Jon Fredrik Baksaas.

After co-locating at Fornebu, Telenor's total housing costs willl go down by 20 per cent, or approximately NOK 70 million. The Telenor group's total area consumption in the Oslo region will thus be reduced by 40 per cent. Building costs for the new headquarters amount to NOK 4.2 billion.

The opening ceremony will be held in the Telenor Square, at the heart of the headquarters, from 20:00 hrs. local time on the evening of Monday, September 23. Norway's Prime Minister, Kjell Magne Bondevik, will conduct the official opening. Telenor CEO, Jon Fredrik Baksaas and Hewlett Packard CEO, Carly Fiorina, will both be holding speeches. The ceremony itself will be a spectacular cultural event. At the opening ceremony a specially commissioned "SIMphony" will be performed, composed by Lars Kilevold and Martin Aune. This is the first time that such a work combines the use of mobile phone ringing tones and symphonic music. The architects behind the Fornebu project will also present a gift that will include a unique cross-continental musical work.


 To the editors:

  --  More information about the opening can be found from Monday
      morning on Telenor's website: www.telenor.com.  It will also be
      possible to follow the evening event live over the Internet.

  --  On Monday, September 23, 09:00 CET, a press breakfast will be held
      at the Expo Visitor's Centre at Fornebu. Telenor's CEO Jon
      Fredrik Baksaas will be introducing a new Telenor product at this
      event.

  --  A separate press centre will be manned throughout the day. The
      press centre will be located on level 2 of the Expo Visitor's
      Centre.


            

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