Approval of annual accounts 2009 incl. dividend proposal

The board of directors of Telio Holding ASA has 23 March 2010 approved the annual accounts for 2009. There were no changes in the profit before tax that was presented in the Q4 09 financial results 11 February 2010. Profit after tax for 2009 was NOK 63,531,000. The board proposes to the annual general meeting (AGM) to pay a dividend of NOK 6 per share to shareholders as of the date of the general meeting. Provided that the AGM adopts the proposal, the share will be traded ex-dividend as from 16 April 2010. The dividend will be paid as soon as possible after a decision by the AGM. The AGM will take place Thursday 15 April 2010 at 09:00 am at Felix Konferansesenter, Aker Brygge, Oslo. A notice for the AGM will be sent to all shareholders and documents related to the annual general meeting, including the annual report for 2009, will be available on the company’s website (www.telioholding.no/investor_relations). The board of directors also revised the company’s dividend policy which is as follows: The dividend policy of the company is to distribute an annual dividend to its shareholders. It is Telio's intention to return to its shareholders 2/3 of consolidated profit after tax. The dividend level is a balance between the shareholders wish for a regular direct return on investment and the company's need to retain capital for development of the business. Therefore, the dividend level may be higher or lower than 2/3 of profit after tax, depending on the company’s evaluation of expected cash flows, capital expenditure plans, financing requirements and appropriate financial flexibility. Dividends will be paid as soon as possible after a decision by the AGM.