Telio acquires Bellit AS

Telio Telecom AS, a wholly owned subsidiary of Telio Holding ASA, has signed an agreement with the shareholders of Bellit AS where Telio Telecom AS acquires all the shares in the company. Shareholders representing more than 90% of the shares have accepted the offer.

Bellit AS has been present in the Norwegian telecom market for the last 6 years and provides broadband telephony services and mobile services to residential and business customers in Norway. - Bellit is one of few remaining providers of broadband telephony in Norway. However, the company’s limited size and position has made it necessary to seek for structural solutions. A sale to Telio was the best option for the company because Telio could act quickly and we are sure that Bellit’s customers will be taken well care of by Telio, says Sigge Pedersen, CEO of Bellit AS. - Telio, as the leading provider of access independent broadband telephony in Europe, will be taking well care of Bellit’s customers providing the same services they receive from Bellit today. In addition, Telio can offer these customers an extended services offering and future services like video telephony and iPhone/iPad telephony, says CEO Eirik Lunde in Telio Holding ASA. The parties have agreed not to disclose the acquisition price. The acquisition will happen immediately and customers of Bellit will receive information by email and post during the coming days. Telio is the leading provider of access independent broadband telephony in Europe with operations in Norway, Denmark, the Netherlands and Switzerland. The company had above 145,000 customers at the end of 2009 and provides IP services to the residential and business market. For further information, please contact: CEO Eirik Lunde Telio Holding ASA Phone: +47 23 62 66 88 Mobile: +47 48 09 69 64 Email: eirik.lunde@telio.no Chairman Per Kaarby Bellit AS Mobile: +47 4186 0000 Email: per.kaarby@bellit.no