Trades by primary insiders

Pursuant to a share programme for employees the
following primary insiders in Telenor Group have
acquired shares at NOK 95.15, closing price on 4
January 2011.

Number of shares acquired / Holdings after the
transaction (including related parties):

- Jon Fredrik Baksaas 4.496 / 153.268
- Morten Karlsen Sørby 2.716 / 42.550
- Jan Edvard Thygesen 2.388 / 105.154
- Ragnar H. Korsæth 1.686 / 33.574
- Sigve Brekke 1.592 / 48.053
- Hilde Tonne 1.592 / 19.138
- Knut Giske 1.428 / 13.389
- Pål K. Kvalheim 1.019 / 7.847
- Pål Wien Espen 946 / 21.926
- Irene Vold 897 / 3.713
- Frøydis Orderud 395 / 2.016
- Bjørn Andre Anderssen 331 / 1.832