Telenor ASA — Director's Dealing 2010

Feb 15, 2010

Trades by primary insiders

Pursuant to a new share programme for employees the

following primary insiders in Telenor ASA have

acquired shares at NOK 74.00, closing price on 12

February 2010.

Number of shares acquired / Holdings after the

transaction (including related parties):

- Jon Fredrik Baksaas 2,594 /121,704

- Sigve Brekke 1,283 / 22,860

- Jan Edvard Thygesen 1,432 / 98,813

- Morten Karlsen Sørby 1,567 / 33,742

- Bjørn Magnus Kopperud 1,108 / 35,650

- Ragnar Korsæth 972 / 23,300

- Hilde Tonne 972 / 13,218

- Bjørn Andre Anderssen 177 / 1,501

- Wenche Aanestad 197 / 4,102

- Helge Enger 139 / 6,338

- Pål Wien Espen 1,118 / 13,156

- Knut Giske 824 / 10,634