Telenor (OSL:TEL) Grameenphone Submits Final IPO Application

Telenor (OSL:TEL) (Fornebu, 11 December 2008) Bangladeshi mobile operator Grameenphone, owned 62 per cent by Telenor, today filed its final application for an initial public offering (IPO) of US$ 65 million.

The price for the IPO has been proposed at BDT 7.00, subject to approval by the Securities and Exchange Commission (SEC). Grameenphone expects the subscription period for the IPO to be late January or early February next year.

"We are proud of our achievement in having reached this milestone. We remain committed to contributing to the development of the capital markets of Bangladesh and look forward to a successful completion of the largest IPO in the country" said Oddvar Hesjedal, CEO of Grameenphone.



Read the entire press release from Grameenphone here: http://www.grameenphone.com/index.php?id=435

Press contact: Esben Tuman, Vice President Communications, Telenor Asia, Phone: +66 859 184 111, E-mail: esben.tuman@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