HNA - Sales agreement for 100 percent of Hafslund Tele AS

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Hafslund ASA's (HNA) subsidiary, Viken Nett AS, has today agreed to transfer all shares in Hafslund Tele AS to Vollvik Gruppen AS. Hafslund Tele is today a wholly-owned subsidiary of Viken Nett. Hafslund Tele offers telephone services to private customers, and has approx. 19,000 customers. Viken Nett receives 17,000,000 shares in Vollvik Gruppen as settlement for the shares in Hafslund Tele.
Vollvik Gruppen AS owns the following subsidiaries; Chess Communications AS, GSM Distribusjon, GSM Sentrene and Improbus. After the transfer the telephone services in Hafslund Tele and Chess Communications will be co-ordinated.
Transfer of the shares in Hafslund Tele, and the subscription of the shares in Vollvik Gruppen will take place on
15 October 2002. The transaction is dependant on approval from the General Meeting in Vollvik Gruppen.
The sale of Hafslund Tele is a part of Hafslund ASA's strategy to concentrate on core business.
Oslo, 11 October 2002