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2014-05-07

Telenor: Telenor Group names Michael Foley as new CEO of Telenor Pakistan

(Fornebu, Norway - May 7, 2014) Telenor Group today announced that it has
appointed Mr. Michael Patrick Foley as the new Chief Executive Officer of
Telenor Pakistan. Mr. Foley assumes the role at a significant moment in
Telenor Pakistan's history - as the country moves into a future where
everyone will be able to access the internet, affordably and easily. He
replaces Mr. Lars Christian Iuel who has built a strong market position for
Telenor Pakistan, an agile management team and a competent organization ready
to capture further market growth. The replacement takes effect from July 1,
2014.

Mr. Foley, a Canadian citizen, has more than 30 years of sales, marketing and
operational experience in the telecom and retail sectors from both advanced
and growth markets. He has lived and worked in more than 11 countries. Mr.
Foley currently serves as the Chief Commercial Officer of the Canadian State
Lottery, Atlantic Lottery Corporation.

"I am very pleased to welcome Michael to Telenor. His knowledge and experience
within telecom, internet and mobile financial services make me confident that
he will drive new innovation, quality mass market services and strengthen
Telenor Pakistan's capabilities in delivering internet for all," says Sigve
Brekke, EVP and Head of Region Asia, Telenor Group. "With Michael's
leadership qualities and vast international experience I am certain that we
will continue to see strong results from the Telenor Pakistan team going
forward".

Mr. Foley takes over the helm at Telenor Pakistan at a time when the company
continues to grow its market share and is set to further develop its leading
consumer internet position with the recently awarded 3G license.

"I look forward to taking on the exciting challenge of joining Telenor
Pakistan at this important moment. When the country now firmly transitions
into a digital future, Telenor Pakistan is well positioned to provide both
new and innovative data-based services as well as best-in-class voice and
SMS. The people of Pakistan should expect to see growth in internet
penetration during the years to come, to the benefit of individuals, the
business community and the society at large. I am impressed with what I've
learned about the Telenor Pakistan organization and its performance," says
Michael Foley.

Since its launch in 2005, Telenor Pakistan has built a customer base of 35
million and ranks as the second largest operator in the country. During his
nearly six-year tenure, first as CMO and then as CEO, Mr. Lars Christian Iuel
has been instrumental in delivering strong market and financial performance.

"We are grateful to Lars Christian for his leadership over many years, both as
a CMO and for the last 2.5 years as the CEO of Telenor Pakistan. Lars
Christian leaves behind the most competent and agile telecom management team
in Pakistan. He has built an attractive brand for Telenor and every day, more
Pakistanis are choosing Telenor as their preferred mobile operator. I wish
him all the best in his new role," says Sigve Brekke.

Mr. Iuel will take up a senior management position in Telenor Group in Norway.

Download photo of Michael Foley

Contacts
Tor Odland
VP Communications
Telenor Group Region Asia
E-mail:tor.odland@telenor.com

Mobile: +66 82 479 4242

Atifa Asghar
Director Corporate Communications&Responsibility
Telenor Pakistan
E-mail:atifa.asghar@telenor.com.pk

Mobile: +92 345 500 8003

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Telenor via Globenewswire

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