TeliaSonera ends goodwill amortization in accordance with a new accounting standard

TeliaSonera ends goodwill amortization in accordance with a new accounting standard On March 31, 2004, the IAS Board published a new standard IFRS 3 "Business Combinations." TeliaSonera's Board of Directors has decided that TeliaSonera will adopt the new business combinations standard as of January 1, 2004. Adoption of the new standard includes, among other things, that goodwill and other intangible assets with indefinite useful life are not amortized after December 31, 2003. Instead, these assets are tested for impairment at least annually. TeliaSonera has applied IFRS/IAS since1999. The new accounting standard affects TeliaSonera's January-March 2004 results as shown in the following table. Prior periods are not restated. January-March 2004 As reported Restated SEK million, except on April 28, 2004 for IFRS 3 earnings per share Depreciation, amortization -3,823 -2,993 and write-downs Income from associated 354 585 companies Operating income 4,122 5,183 Net income 2,344 3,405 Earnings per share (basic 0.50 0.73 and diluted) The detailed impact of the new accounting standard on TeliaSonera's reporting segments in January-March 2004 is available on www.teliasonera.com under Investor Relations, comparable historical figures. There you will also find specifications of goodwill amortization during previous years. _____________________________________________ For further information journalists can contact: Kim Ignatius, CFO, TeliaSonera AB, +46-(0)8-713 58 30 Forward-Looking Statements Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/06/16/20040616BIT00350/wkr0001.pdf

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