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Telenor ASA Director's Dealing 2010

Oct 27, 2010

Director's Dealing

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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).