Mandatory notification of trade

Ingvald Fergestad, Executive Vice President People
Development in Telenor ASA, has on 27 October 2010
acquired 46 shares in Telenor at a price of NOK
92.90 per share. The transaction is related to
Telenor's Employee Share Programme 2010.

After this transaction, Ingvald fergestad holds
7,618 shares in Telenor (incl. related parties).