Telenor Refutes Alfa's False and Misleading Statements

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Telenor Asa ADS (MM)	NASDAQ:TELN	NASDAQ	Common Stock

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Telenor Refutes Alfa's False and Misleading Statements

10/06/2005 12:17am

PR Newswire (US)

Telenor Asa (NASDAQ:TELN)
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Telenor Refutes Alfa's False and Misleading Statements FORNEBU, Norway, June 9 /PRNewswire-FirstCall/ -- In a conference call with VimpelCom shareholders today, Alfa Telecom made certain false and misleading statements that Telenor wishes to refute. First, Alfa Telecom stated that Telenor had proposed to Alfa that Telenor and Alfa together purchase a Ukrainian mobile operator known as WellCom. This statement is not true. As Telenor has repeatedly stated, it has no confidence in the merits of the business case for WellCom, regardless of the identity of the acquirer. Second, Alfa Telecom said that Telenor has a conflict of interest in respect to the potential acquisition by VimpelCom of WellCom. This is not true. If this acquisition would create value for VimpelCom, Telenor, as VimpelCom's largest shareholder, would obviously support it. Third, Alfa Telecom stated that Telenor, Alfa and VimpelCom have had negotiations concerning a potential merger between VimpelCom and Kyivstar. This statement is not true. No such negotiations took place. Fourth, Alfa Telecom stated on the call that it has no intention of taking control of VimpelCom. This statement contradicts an amendment to Alfa Telecom's filing on Schedule 13D filed with the SEC on May 26, 2005 in which Alfa Telecom stated that "Eco Telecom would like to obtain control of VimpelCom .... " Telenor refers investors to Telenor's June 6, 2005 letter to shareholders of VimpelCom, which outlines in detail what Telenor believes to be Alfa's strategy concerning VimpelCom, and proposes a course of action for VimpelCom's upcoming AGM that Telenor believes will protect the interests of all of VimpelCom's shareholders. This letter is accessible on Telenor's website (http://www.telenor.com/). Further information: Chief Press Spokesman, Telenor ASA, Dag Melgaard, Tel (+47) 901 92 000 Telenor: Headquartered in Oslo, Norway, Telenor is an international provider of high quality telecommunications, data and media communication services. Telenor is one of Norway's largest companies with revenues in 2004 of approx. NOK 61.3 billion and a work force of 20,900 domestically and abroad. Telenor is listed at the Oslo Stock Exchange (TEL) and Nasdaq in New York (TELN). DATASOURCE: Telenor ASA CONTACT: Dag Melgaard, Chief Press Spokesman of Telenor ASA, +47-901-92-000 Web site: http://www.telenor.com/

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TELN Telenor Asa ADS (MM)