Press Releases

25
July 2007

Telenor Pakistan continues its successful financial run

Islamabad, 25 July 2007: Telenor Pakistan added a solid 1.6 million subscriptions during the second quarter (April-May-June) 2007, contributing 32% of the Group net additions worldwide. Telenor Group President & CEO Jon Fredrik Baksaas has called Telenor Pakistan quarter-to-quarter successful performance: impressive.

The latest financial figures were presented yesterday by Telenor Group President & CEO Jon Fredrik Baksaas and CFO Trond Westlie at Telenor Group's headquarter at Fornebu.

CEO Telenor Pakistan Tore Johnsen, while talking about the excellent second quarter figures, said: The figures prove that we continue to do things in a way that our customers expect of us. In future, too, we are committed to providing quality products and services that offer the best value and are easy to use. Our other major areas of focus are to keep at building a customer-intimate organization and constantly outperform other networks in terms of reach and reliability.

Earlier, commenting on the Telenor Group overall impressive growth, Baksaas said: We are delivering another good quarter. The trends from the first quarter have continued, with high underlying revenue growth and stable EBITDA margin. In Asia, the impressive development in DiGi [Malaysia] and Telenor Pakistan continues.

Telenor's consolidated mobile operations added more than five million subscriptions worldwide during the second quarter. Telenor's pro forma revenues increased by 19 per cent compared to the second quarter of 2006, reaching NOK 26.2 billion. The underlying pro forma revenue growth was 13 per cent. Pro forma EBITDA was NOK 9.1 billion.

The Telenor Group is an international provider of high quality telecommunications, data and media communications services. Telenor ranks as one of the biggest GSM service providers in the world with over 128 million subscribers. Telenor Pakistan is 100% owned by Telenor ASA and adds on to its operations in Asia together with Thailand, Malaysia and Bangladesh.

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