Launch of debt tender offer

Telenor ASA (the 'Company') launches a debt tender
offer for any and all of its outstanding EUR500m
Floating Rate Notes due 2011 (XS0269251855)
(the '2011 Notes') and a debt tender offer and
consent solicitation for any and all of its
outstanding EUR500m 5.875% Notes due 2012
(XS0158765064) (the '2012 Notes'), together
the 'Offers'. The Offers are made on the terms and
subject to the conditions contained in the tender
offer memorandum dated 8 March 2010 (the 'Tender
Offer Memorandum').

The main purpose of the debt tender offer is to
extend the Company's debt maturity profile. The
intention is to finance any amounts due in relation
to the Offers to holders of the 2011 Notes or of the
2012 Notes by issuing new notes of the same nominal
amount with a longer maturity.

Detailed information about the debt tender offer is
available at the website of the Luxembourg Stock
Exchange.