Reorganisation of Telenor

The new organisation will involve a stronger concentration of competence and resources in order to serve the business, consumer and operator markets respectively. Telenor's mobile operations will remain unchanged. For Telenor's customers, the most noticeable effect of the reorganisation will be a more unified approach to the market and a higher degree of product coordination with regard to customer demand for communication services. The four main business areas will be responsible for maintaining and developing their operations both in Norway and abroad.

Telenor's four main business areas will be:

Telenor Business Solutions
Here Telenor will be concentrating its business market operations. This will include today's Business Solutions, Nextra, data services and Telecom Solutions' sales and marketing operations for the business market. CominCom in Russia and Telenordia in Sweden will also be a part of this business area. Morten Lundal will head Telenor Business Solutions.

Telenor Communication for private homes (working title)
In this business area, Telenor will be concentrating its sales, marketing and other customer related operations for the consumer market within fixed telephony, Internet as well as TV and content services. Telenor Communication for private homes will be led by Stig Eide Sivertsen.

Telenor Telecom
This business area will be responsible for the operator and wholesale market. The business area will focus on price effective production of basic services and the sale of capacity, transport and access on a wholesale basis. Following the new organisational changes, Telenor Telecom will continue to have general responsibility for basic telephony (PSTN and ISDN), including market position, revenues and product cost effectiveness. Jan Edvard Thygesen will head Telenor Telecom.

Telenor Mobile
This business area will continue to operate in its present form, both in Norway and abroad. Telenor Mobile will be led by Arve Johansen.

Teleservice, Satellite Mobile and Satellite Networks will not be part of any of the main business areas, but rather a part of Telenor ASA.

Itworks has been defined as a related business area, and there are no changes to the other related business areas EDB Business Partner, Bravida and Telenor Media.

The organisational changes take effect as of July 2. External financial reporting from the new organisational structure come into effect as of the third quarter of 2001.