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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES FINANCIAL RESULTS FOR THIRD QUARTER 2008
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Financial Results for Third Quarter 2008

Telenor increased revenues by 7% compared to the same period last year
October 29, 2008 – In the third quarter of 2008, Telenor d.o.o. achieved revenues of RSD 8.45 billion (EUR100 milion), or seven per cent more than in the same period last year.

“Telenor in Serbia increased its subscriber base by 78,000 and maintained a stable market share of 39 per cent. Owing of strong cost control and reduced marketing communications expences, high EBITDA in local currency were achieved,” said Gabor Kocsis, the Chief Financial Officer of Telenor.

Telenor has 3,125,000 mobile subscribers in Serbia. This refers only to subscribers who continuously generated revenues in the previous three months.
 
At the global level, with six million new subscriptions, or 159 milion in total, Telenor remained the seventh largest mobile operator in the world. Revenues (including Kyivstar) grew by 4 per cent in the third quarter of 2008, to NOK27.62 billion, compared to the same period last year.