Omsk Court Hearing Of Telenor (OSL:TEL) 's Appeal In Farimex Case To Resume On 19 December

Telenor (OSL:TEL) (Fornebu, Norway and Omsk, Russia - 12 December 2008) The Eighth Arbitrazh Appellate Court in Omsk in Siberia will on 19 December resume the hearing of Telenor's appeal of the USD 2.8 billion judgment issued against the Norwegian company last August in Khanty-Mansiysk. The hearing started on Friday, 12 December.

The original case was filed by little-known British Virgin Islands-based Farimex Products, Inc., which claimed that VimpelCom suffered financial harm allegedly caused by Telenor due to delays in VimpelCom's acquisition of loss-making Ukrainian mobile operation, Ukrainian Radio Systems (URS). Farimex is a BVI shell company, which claims to hold a 0.002 per cent stake in VimpelCom and whose sole director is Dmitry Fridman. Telenor believes the case has no merit.

Contacts: Dag Melgaard, Comunications manager, Group Communications, Telenor ASA, tel: (+47) 901 92 000 Anna Ivanova-Galitsina, Communications manager, Telenor Russia, tel: (+7 495) 937 9588

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