NextGenTel wins prestigious project

NextGenTel AS, a wholly owned subsidiary of NextGenTel Holding ASA, has signed a framework agreement with Oslo S Utvikling (OSU) for a housing project in Bispevika. NextGenTel is to deliver their services to the around 1,500 apartments to be built in downtown Oslo. The first apartments will be finished in 2018.

NextGenTel will deliver fiber-based broadband and innovative TV solutions to the residents. While some players in the industry are focusing on large channel packages for all residents, NextGenTel and OSU choose the opposite and give the customers the ability to choose TV themselves. In projects like these involving more than thousand residents the needs for TV and Internet are quite different. Many people are subscribing to streaming services and do not need many TV channels. NextGenTel wants to meet this demand and not force customers into TV solutions they do not need.

"This is an important agreement for our company in fulfilling our strategy for the market for multi-dwelling units and the agreement represents a breakthrough for NextGenTel for the delivery of broadband and TV solutions in the market for new buildings. In preparing this agreement, the individual resident has been in focus, and in our dialog with OSU it has been important for us to emphasize why customers should be able to select individual agreements for TV, "says Eirik Lunde, CEO of NextGenTel.

"We are very pleased with this framework agreement with NextGenTel. It is an agreement for the future, giving residents the necessary freedom of choice in a digitized TV-world in constant change," says Rolf Thorsen, CEO of Oslo S Utvikling AS.

For further information, please contact:

Eirik Lunde, CEO NextGenTel Holding ASA

Phone: +47 48 09 69 64

Email: eirik.lunde@nextgentel.com

Rolf Thorsen, CEO Oslo S Utvikling AS
Phone: +47 90 11 93 73
Email: rolf.thorsen@osu.no