Tuesday, May 6, 2008, Rabi-ul-Sani 29, 1429    

Telenor Pakistan reports impressive results for Q1 2008

Staff Reporter

Islamabad —Telenor Pakistan has recorded impressive results increasing the revenue by 80% compared to the same period in 2007. Strengthening the financial gains is the continuing positive trend of EBITDA registering an increase of 17% over the previous quarter. The total reported revenues for Q1-2008 are NOK 1042 million against NOK 686 million for Q1-2007.

Telenor Pakistan is the fastest growing mobile operator in Pakistan. Telenor Pakistan’s subscriber base grew by 2.1 million in Q1-2008 contributing 49% of Telenor Asia’s total subscriber growth. Currently, Telenor Pakistan’s market share stands at 20% of existing market.

Chief Executive Officer, Telenor ASA, Jon Fredrik Baksaas expressed his confidence on the Asian market; “The number of subscriptions in our mobile operations reached 147 million, mainly contributed by continued high net additions in Pakistan, Bangladesh and Thailand.

I am pleased to see that we make daily life easier for our customers worldwide. In close cooperation with partners, we have introduced several innovative and user friendly solutions, such as mobile financial services in Bangladesh and Thailand, as well as a mobile health service in Pakistan. We will continue to make the opportunities and benefits of mobile communication available for all.”

TIME Magazine, in a recent article on Telenor, states; “Targeting a range of customers is bringing rewards. Sales in Pakistan almost tripled last year to $632 million; Tore Johnsen, the Norwegian in charge of Telenor Pakistan, expects that rapid growth to continue in coming years.”

Business Week ranked Telenor as number 25 in the global ranking of top 100 performers in the technology industry, Telenor’s pro forma revenues increased by four per cent compared to the first quarter of 2007, reaching NOK (Norwegian Kroner) 26.3 billion. Underlying revenues increased by seven per cent in the same period.