Telenor Satellite Services and Addvalue Technologies Announce Strategic Business Agreement; Companies Will Cooperate to Provide Global Satellite Communications Equipment and Services Throughout Asia.

SINGAPORE & OSLO, Norway & ROCKVILLE, Md. -- Telenor Satellite Services of Oslo, Norway and Rockville, Maryland and Addvalue Technologies Ltd today announced that the two companies have entered into a strategic business agreement to provide satellite communications services for the terrestrial, maritime, and aeronautical markets.

Telenor Satellite Services and its wholly-owned subsidiary, GMPCS Personal Communications, will work with Addvalue to design, develop, market and distribute satellite services. The initial focus will be the distribution of Inmarsat's Broadband Global Area Network (BGAN) communications using Addvalue's SABRE I satellite terminal and Telenor's BGAN services.

In November 2004, Addvalue appointed GMPCS a Master Distributor for the Addvalue BGAN terminals. (See Telenor - Addvalue press release, dated November 1, 2004: Addvalue Communications Selects GMPCS for Distribution of Inmarsat BGAN Terminals.)

In addition to the distribution of SABRE I equipment sales with Telenor BGAN services, the agreement includes sales, marketing and engineering support services for Addvalue's future development of BGAN-related offerings for markets throughout Asia. Being located in Asia allows Addvalue to tap into this fast growing market.

"The Addvalue SABRE I satellite terminal is the most economical of the four terminals included in Inmarsat's initial roll out of BGAN and its size and functionality are clearly designed to meet customer requirements and will expand the market for Inmarsat services," said Morten Tengs, chief executive officer for Telenor Satellite Services. "Telenor was the first in line ordering BGAN terminals from multiple manufacturers and we are committed to providing customers the right fit of BGAN equipment and services to meet their needs. Telenor Satellite Services looks forward to working with Addvalue to grow the market for satellite services in Asia and elsewhere in the world."

"Addvalue is indeed honored to be selected for this strategic business agreement with Telenor. It is a stamp of endorsement by a leading global telecommunication service provider of Addvalue's ability to design low cost, high quality, and reliable wireless communication products," noted Dr. Colin Chan, chairman and CEO of Addvalue. "This agreement recognizes the invaluable in-house expertise and reservoir of intellectual property which Addvalue has painstakingly built up over the years. Together with Telenor, we are confident in growing the market for satellite services globally," Dr. Chan added.

Telenor Satellite Services is a subsidiary of Telenor of Norway (Oslo Stock Exchange:TEL and NASDAQ:TELN).