Telenor Satellite Services and Addvalue Technologies Sign Satellite Airtime Agreement; Companies to Bundle Broadband Global Area Network (BGAN) Equipment and Satellite Capacity to Promote Sales of New Service.

OSLO, Norway & ROCKVILLE, Md. -- Telenor Satellite Services, a subsidiary of Telenor of Norway (Oslo Stock Exchange: TEL and NASDAQ:TELN), and Addvalue Technologies Ltd, today signed a comprehensive BGAN satellite airtime agreement that will enable the two companies to bundle Addvalue's SABRE 1 BGAN terminal with Telenor airtime.

The signing is the first step in implementing the Telenor-Addvalue strategic business agreement which was announced in February 2006. (See Telenor Satellite Services - Addvalue Announce Strategic Business Alliance Press Release, dated February 9, 2006.)

"Addvalue is very pleased to enter into this BGAN airtime agreement as the first step in implementing our strategic business agreement with Telenor Satellite Services," said Dr. Colin Chan, chairman and CEO of Addvalue. "This pact will not only provide Addvalue with a new revenue stream but also the market strength and flexibility we need to build long-term relationships with our customers and solidifies Addvalue's market position as a 'one-stop-shop' for BGAN equipment, airtime, service and support."

"Telenor is confident that this agreement will stimulate interest and lead to market growth of our BGAN services throughout Asia and globally," said Morten Tengs, chief executive officer of Telenor Satellite Services. "Telenor has been at the 'front of the line' in ordering BGAN terminals from multiple manufacturers to provide customers the right fit of BGAN services and equipment to meet their specific needs. Combining the strengths and features of Addvalue's SABRE I BGAN terminal with Telenor's exclusive Terralink(TM) IP Networking Platform and global points of presence provides BGAN users the widest range of service connection options, increased levels of security, and cost-efficient, high-quality communications service."

In addition to the BGAN airtime agreement signed today, Telenor and Addvalue will work to further develop joint sales, marketing, and engineering support services for Addvalue's BGAN-related offerings throughout Asia and globally. Efforts in this area were first announced in late 2004 when Addvalue appointed Telenor's wholly-owned subsidiary, GMPCS Personal Communications of Pompano Beach, Florida as a Master Distributor for Addvalue BGAN terminals.

BGAN is the world's first global, mobile satellite service to provide voice and IP-based broadband service simultaneously. Commercial BGAN service was launch throughout Asia, Africa, Europe and the Middle East in December 2005 with commercial service anticipated to begin in the Americas in mid-April 2006.