Telia Disposes Half of Its Interest in Eniro AB

Business Wire, July 5, 2001

Business Editors

STOCKHOLM, Sweden--(BUSINESS WIRE)--July 5, 2001

Telia AB agreed, on July 4, to sell 40 million shares in the directories company Eniro AB to institutional investors after an accelerated book-building process. The price to be paid by investors is SEK 104 per share. The transaction is expected to generate gross proceeds to Telia of approximately SEK 4.16 billion and a capital gain exceeding SEK 3 billion to the Telia Group. Following the closing of today's sale, Telia's holding in Eniro will be approximately 25.5%.

The placing was executed through Morgan Stanley, the sole book-runner, and by Carnegie as joint lead manager.

This press release is not for publication or distribution or release in the United States of America (including its territories and possessions, any State of the United States and the District of Columbia) Canada or Japan. This press release is not an offer or solicitation of an offer to purchase or subscribe for Eniro shares in the United States, Canada or Japan. The sale of the Eniro shares has not and will not be registered under the US Securities Act of 1933 and, accordingly, the Eniro shares may not be offered or sold in the United States except pursuant to an exemption from registration. No public offering of the Eniro shares is being made in the United States.

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