1. NetCom The future is wireless 1 NETCOM ASA Presentation of first quarter results 2000 3 May, 2000 Terje Christoffersen President and Chief Executive Officer

2. NetCom The future is wireless 2 NetCom NetCom is Norway’s first and largest publicly owned telecom operator. The company offers a broad range of telecom and internet related services with special emphasis on mobile solutions NetCom’s strategy is - leading in mobile telephony - leading in mobile internet

3. NetCom The future is wireless 3 Background Founded 1989 by Orkla and Kinnevik as first private telecom operator in Norway Launch of services September 1993 IPO May 1996. Listed on Oslo Stock Exchange and SEAQ. Financed by Chase-led syndicate, MNOK 2 460 Introduced a number of internet based services in 1999 6 agreements signed with service providers

4. NetCom The future is wireless 4 NetCom shareholder structure Per April 27, 2000 Comvik International 16% Ameritech International * 20% Tele Danmark 20% Orkla ASA 10% Others 34% NetCom ASA NetCom GSM as 100% * Part of the SBC group

5. NetCom The future is wireless 5 Overview One of two GSM operators in one of the world’s most penetrated markets, 64% penetration Solid experience in mobile data –With a number of value added services in mobile internet, NetCom is among the world’s most innovative mobile operators 93% coverage 753 760 customers at March 31, 2000 Total of 3 900 outlets

6. NetCom The future is wireless 6 NetCom GSM as

7. NetCom The future is wireless 7 Highlights 1 quarter 2000 Growth - 20% growth in revenues - Substantial growth in postpaid usage Profitability - EBITDA margin - Pre tax profit Fundament for future growth - Growth potential in the core business, as well as new business areas in mobile internet Strong improvement Mobile telephony & Mobile Internet

8. NetCom The future is wireless 8 Profit 1st quarter 2000 profit before tax MNOK 90, up from MNOK 45 in the 1st quarter 1999 EBITDA margin increased from 29% to 34% from 1st quarter 1999 to 1st quarter 2000

9. NetCom The future is wireless 9 Development in revenue and usage (1) Minutes per subscriber –Postpaid increased by 26% from 1st quarter 1999 to 1st quarter 2000 –Prepaid decreased by 16% from 1st quarter 1999 to 1st quarter 2000 Revenue per subscriber –Postpaid increased by 13% from 1st quarter 1999 to 1st quarter 2000 –Prepaid decreased by 13% from 1st quarter 1999 to 1st quarter 2000

10. NetCom The future is wireless 10 Development in revenue and usage (2) 1st quarter telephony income was MNOK 648, up 20% compared to the same period 1999 Number of customers increased by 8 671 SMS revenue amounted to MNOK 56 in the 1st quarter 2000, up from MNOK 29 in the same quarter 1999.

11. NetCom The future is wireless 11 Customer development - total number of customers

12. NetCom The future is wireless 12 Share of males and females who have mobile phones Source: Markeds- og MediaInstituttet (MMI) Feb/March 00.

13. NetCom The future is wireless 13 Call volumes per customer per month Number of minutes

14. NetCom The future is wireless 14 Revenue per customer per month NOK (ex 23% VAT)

15. NetCom The future is wireless 15 Information services and SMS messages Number of messages SMS represented 9% of total revenues in 1st quarter 2000

16. NetCom The future is wireless 16 EBITDA MNOK EBITDA* margin increased from 29% in the first quarter 1999 to 34% in the first quarter 2000 *EBITDA: Earnings Before Interest, Tax, Depreciation and Amortization

17. NetCom The future is wireless 17 EBIT MNOK EBIT* margin increased from 15% in the first quarter 1999 to 19% in the first quarter 2000 *EBIT: Earnings Before Interest and Tax

18. NetCom The future is wireless 18 NetCom ASA Group Key Figures (Accounting figures in MNOK )

19. NetCom The future is wireless 19 Financial objectives 20% revenue growth 33% EBITDA margin within mobile telephony

20. NetCom The future is wireless 20 Basis for future growth Increased usage New products and business areas Weak customer development in 1st quarter Action –Organisational changes –Strengthened market activities –New exciting products

21. NetCom The future is wireless 21 New products NetCom Flex –Flexible subscription - monthly automatic refill of NOK 200, and further refill by prepaid cards NetCom Total –Bundling of mobile, fixed-line and internet subscription at favourable prices –Aimed at the consumer market

22. NetCom The future is wireless 22 Innovative products NetCom MotHer - 70 000 users –More than 30 000 hits per week –Approximately 14 minutes per log-in NetCom Internet (ISP) - 11 000 users NetCom @Kontant - 18 000 users WAP - 4000 users

23. NetCom The future is wireless 23 Service providers with agreement with NetCom Site Communications GTS Tele 1 Europe ElTele Øst Enitel Telepluss

24. NetCom The future is wireless 24 Merkantildata and NetCom Cooperation started 1 March this year Joint sales force focused on solution sales to larger companies Complete telecom and IT solutions Positive response from customers

25. NetCom The future is wireless 25 NetCom ASA Group Consolidated profit and loss accounts (MNOK) (Includes only volume-dependent costs. Other marketing costs are included under other operating costs. In previous quarters, total marketing costs are reported, amounting to MNOK 107 and MNOK 410 in the first quarter 1999 and full year 1999, respectively).

26. NetCom The future is wireless 26 NetCom ASA Group Consolidated balance sheet (MNOK) (1)

27. NetCom The future is wireless 27 NetCom ASA Group Consolidated balance sheet (MNOK) (2)

28. NetCom The future is wireless 28 NetCom ASA Group Consolidated statement of cash flow

29. NetCom The future is wireless 29 The 20 largest shareholders Per 27 April 2000