Og fjarskipti ehf. (Vodafone), subsidiary of Teymi hf., has concluded an agreement with Nova ehf. on network sharing. According to the agreement, Vodafone will have access to Nova's new third generation mobile network (3G) and Nova will have access to Vodafone's GSM network. The Boards of Og fjarskipti ehf. and Nova ehf. are convinced of the mutual benefits of the agreement. The agreement is in line with The Post- and Telecommunications Administration's tender on 3G spectrum which provides for network sharing of licence holders. Og fjarskipti (Vodafone) is a telecommunications company owned by Teymi hf. Vodafone's employees are around 350 and provide tv distribution, mobile, voice and data services to homes and business in the Icelandic market. Vodafone's domestic mobile services reach 98% of the Icelandic population and by an extensive co-operation agreement with Vodafone Group, one of the world's leading telecommunications companies, Vodafone provides its domestic customers secure mobile services world wide. For further information contact: Dóra Sif Tynes, hdl. General Counsel of Teymi Tel: 00 354 595 5000