Telenor: Share Offer to Employees


OSLO, Norway, Dec. 6, 2001 (PRIMEZONE) -- This notification has been sent to the Oslo Stock Exchange:

Telenor ASA (Nasdaq:TELN) has made a private placing directed at employees of a total of 578.753 shares at a quotation price of NOK 36,86 (NOK 29,49 adjusted for cash discount offered) as part of the share offer program for Telenor employees. A total of 2.851 employees have been allotted 203 shares each. The number of outstanding shares subsequent to the share issue is 1.802.730.652. Payment will take place on December 7, 2001.


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