AMBOISE INVESTISSEMENT

(Fornebu, Norway and Paris, France - 26
October 2006) On Wednesday 25 October 2006,
Funds advised by Apax Partners France, together
with Altamir and Amboise Investissement,
signed a definitive agreement with Telenor to acquire Telenor
Satellite Services (TSS) for a cash consideration of USD 400 million (NOK
2,640 million). Since 2002 Telenor has defined Telenor Satellite Services as
non-core business. Apax Partners intends to pursue the development of the company
in Norway and
abroad.

Telenor Satellite Services offers communication solutions via satellite to
land, air and sea. The transaction will not impact the services provided by
TSS and business relations with customers will remain unchanged.

?Apax Partners is a very capable owner, and the sale of Telenor Satellite
Services is made in accordance with Telenor's strategy to divest business operations
that fall outside the scope of our core activities. We are pleased that Telenor
Satellite Services will now have an owner that is well-positioned to continue
the development of the company,? said Bjarne Aamodt, Chairman of Telenor Satellite
Services and Senior Vice President in Telenor.

?We are delighted to make a further investment in satellite communication
services by acquiring TSS. TSS is not only a major provider of mobile satellite
services, but also a leading competitor in the high growth VSAT business segment,
providing mission critical satellite communication services to demanding clients
worldwide. Apax Partners will rely upon TSS' management and employees to pursue
the development of the company in Norway and abroad, and to continously enhance
its services to meet the needs of its customers,? said Bertrand Pivin, Partner
at Apax Partners in Paris.

The transaction is subject to approval from regulatory authorities. Given
the current exchange rate for USD, Telenor ASA will be able to post a gain of
approximately NOK 1.4 billion from the sale. The transaction will not affect
any other units of Telenor ASA that use satellite as their communications platform,
including Telenor Broadcast/Telenor Satellite Broadcasting.

About Telenor Satellite Services

Telenor Satellite Services offers communication solutions via satellite to
land, air and sea. Unlike Telenor Satellite Broadcasting, TSS does not own or
operate satellites by itself.

Telenor Satellite Services currently has approximately 550 employees, operating
in offices located in Norway (232 employees), in the U.S. (168 employees), as
well as in Europe , the Middle East , Asia and South America . In 2005, Telenor
Satellite Services generated revenues amounting to USD 376.9 million (NOK 2,428
million) and an EBITDA of USD 61.0 million (NOK 392.8 million). For the first
nine months of 2006, TSS' revenues were USD 285.7 million (NOK 1,834 million)
with an EBITDA of USD 43.7 million (NOK 280.8 million). Similar figures for
the first nine months in 2005 were revenues of USD 281.3 million (NOK 1,792
million) and an EBITDA of USD 42.8 million (NOK 272.8 million).

About Altamir and Amboise Investissement

Altamir and Amboise Investissement are two listed companies which were created
by Apax Partners respectively in December 1995 and at the end of March 2006.
Both are designed to co-invest and disinvest with the private equity investment
funds managed by Apax Partners France.

Altamir and Amboise Investissement leverage Apax Partners' know how and investment
strategy, which involves backing fast-growing companies, at all stages of investment
(LBO, growth capital, venture capital), across its global sectors of IT & Telecoms,
Media, Healthcare, Retail & Consumer and Business & Financial Services.

Altamir is a SCR (S ociété de Capital Risque )
listed on the Euronext Paris Eurolist market, Compartment C, Ticker: LTA, ISIN:
FR0000053837.

For further information: www.altamir.fr

Amboise Investissement is a SCR (S ociété de Capital
Risque ) listed on the Euronext Paris Eurolist market, Compartment C, Ticker:
AMB, ISIN: FR0010307348.