Share buyback

8/23/2012 1:00 AM EST

Telenor has on 22 August 2012 purchased 377,857 own shares at 
an average price of NOK 102.30 per share. After this 
transaction, Telenor owns a total of 3,075,974 own shares. 

The transaction is part of the share buyback programme 
announced by Telenor Group on 24 July 2012. The buyback 
programme comprises around 47 million shares, of which close 
to half will be repurchased in the market. The rest will be 
purchased from the Kingdom of Norway through the Ministry of 
Trade and Industry on a proportionate basis, so that the 
Ministry's current ownership interest in Telenor of 53.97% 
will remain unaffected.

For further information about the share buyback programme 
Telenor refers to the Oslo Stock Exchange notification made on 
24 July 2012 (available from www.newsweb.no).