Telenor (OSL:TEL) To Evaluate Funding Alternatives For Investment In India

Telenor (OSL:TEL) (Fornebu, 26 November 2008) On 29 October, Telenor announced its intention to fund its investment in India through a rights issue of NOK 12 billion. Telenor has now decided to evaluate alternative ways of funding the investment, including the previously announced rights issue.

As part of this process, Telenor has appointed Deutsche Bank as an independent financial adviser.

Contact: Scott Engebrigtsen, Head of Media & PR, tel.: +47 90 04 34 84, e-mail: scott.engebrigtsen@telenor.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Telenor

http://www.telenor.com

ISIN: NO0010063308

Stock Identifier: OSE.TEL

US: Nasdaq:TELN