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Semiannual Report January - June 2001

Telia achieved double-digit growth for comparable units in Q2 2001, with strong growth in core business areas such as mobile, international carrier, internet services, and networks. The number of broadband customers also increased significantly during this period. Telia's refine and focus strategy strengthened the group financially and reduced the number of employees.

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Semiannual Report January - June 2001

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  1. Stockholm, 16 August 2001 Semiannual Report January - June 2001

  2. Highlights • Telia achieved double-digit growth for comparable units, +10% during Q2 • Strong growth in our core business • Mobile +59% • International Carrier +34% • Internet Services +32% • Networks +2% • The number of broadband customers increased during Q2 by 66,000 to 203,000 • Telia’s refine and focus strategy strengthened the Group financially and reduced the number of employees • Networks sharpened its focus through the acquisition of Powercom and sale of the Finnish network

  3. Broadband expansion Paying broadband customers Narrowband Internet subscriptions increased by 11% from 652,000 H1 2000 to 724,000 H1 2001 (‘000) High-speed Internet via cable

  4. Mobile Q2 sales growth +59% Robust improvement in profitability in underlying EBITDA +139% Norway +35% *) • First UMTS call made Exceptionally strong customer growth in the Baltic states and Russia Finland +60% • Dual-prepaid launched Sweden +16% • Telia’s mobile network best in all categories • Letter of Intent signed between Svenska UMTS-nät and Ericsson Denmark +91% • Number portability introduced Speedy Tomato - best mobile portal *) Pro forma

  5. Mobile Total proportional customer base 5.1 million Customer base, Nordic countries 4,728,000 +175,000 Finland 167,000 +18,000 Sweden 3,323,000 +66,000 GSM customer growth +99,000 2) Russia North West GSM (12.7% + 11.3%) through Telecominvest 366,000 +113,000 Customer base, Baltic states/Russia 1,428,000 +269,000 ** Norway 884,000 +34,000 1) Eesti Mobiilitelefon (24.5%) 362,000 +35,000 Estonia ** Denmark 354,000 +57,000 Latvijas Mobilais (24.5%) 300,000 +30,000 Latvia ** Lithuania Omnitel (27.5%) 400,000 +91,000 ** 1) Jan-Jun, excl. 110,000 SP customers 2) Jan-Jun, excl. 71,000 SP customers ** Total number of customers Customer growth H1

  6. Mobile Churn 7% Sweden Subscription Total Prepaid Subscription Total Prepaid

  7. Mobile Churn 29% Norway Subscription Total Prepaid Subscription Total Prepaid

  8. Mobile Share of sales Q2 2001 Sweden 4%, Norway 13% Continued growth for SMS Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec

  9. Mobile bikePosition Nära dig MobileNation Väder Nära dig New youth site for mobile services Weather forecasts for the area where you are MC information on the road Posten Nära dig Mobil Mejl Microbetalningar P Helps you find the postal service location in the area where you are Make payments using your mobile phone Send and receive e-mail Using your mobile phone Rapid launch of new services

  10. International Carrier Key events Q2 • Robust growth in capacity business +453% • Strong growth in IP business +77% • Decision to continue expansion in the Middle East and Eastern Europe • TAT 14 brought into service • Renewed positive development in Voice business • Renegotiated IRU agreement valued at GSEK 1.2 • Selected as one of three main suppliers of capacity to GEANT • Awarded Best Internet Service Provider in the United States

  11. International Carrier Rapid completion of network Network in service: Infrastructure network expansion 30 June 2001 Total fibre network km (in use) 26,000 Ducts km (Europe) 8,000 PoPs (total) 62 Network investments (MSEK): Telia’s investments 9,714 Market value swaps 3,427

  12. Networks • Revenues climbed 2% during Q2 • Fixed network in Finland divested • Danish network operator Powercom acquired • Continued focus on streamlining costs, broadband and other value-added services Finland Telia Finland OY divested Denmark Powercom acquired

  13. Continued refine and focus strategy • Sale of 51% in: • Swedia Networks AB • Telia Prosoft AB • Respons AB • Validation AB • Telia Swedtel AB • Telia Dokumentation AB • Multicom Security AB • TA Teleadress Information AB • Combinator IT AB • Eircom (Eircell) • Telia Trading AB • Si.Mobil • DRS 13 June • IN good company AB • Starman Kaabel-televisiooni AS • Svefo AB • Telia Contracting • Telia Kompetens • Telia Konferens • Smålands- börsen Data AB • Telia Academy AB • System & Service A/S • Eniro • (listed) • Tess • Eniro • Telia • Finland OY • Scandinavia • Online • (listed) • Altitun Q2 2001 Q4 2000 Q1 2001 Q1-Q2 2000 Q3 2000

  14. Associated companies • Eircell divested to Vodafone • Vodafone shares sold for MSEK 3,500 • Telia accepted offers totaling MSEK 3,900 • Share of earnings 2000: MSEK -933 • Write-down of remaining goodwill in Netia MSEK -1,820 • Share of earnings 2000: MSEK -411 • Capital gain upon sale MSEK 2,623 • Share of earnings 2000: GSEK -1.6

  15. Continued refine and focus strategy Reduced number of employees 46,213 31 Dec 1991 22,468 30 June 2001 31 December 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

  16. Outlook for 2001 • Continued robust growth in sales and earnings in our core business • Continued strong implementation of the refine and focus strategy

  17. Financial overview Q2 Q2 H1 H1 (MSEK) 2000 2001 2000 2001 Net sales 13,180 14,203 26,037 27,795 Underlying EBITDA 2,857 3,014 6,117 6,362 - margin % 21.7 21.2 23.5 22.9 Operating income 488 988 3,870 1,799 Earnings per share (SEK) 0.10 0.08 0.94 0.18 The Telia Group in Brief

  18. Financial overview Underlying EBITDA Sales (MSEK) (MSEK) Remaining companies Remaining companies Effects of the refine and focus strategy (Equity)

  19. Financial overview Group net sales Quarterly (MSEK) Rolling (MSEK)

  20. Financial overview Change % Mobile +58.6 International Carrier +33.9 Networks +2.1 Internet Services +32.2 Equity -57.6 Group-wide -23.6 Total for the Group +7.8 (MSEK) Q2 2001 Q2 2000 of which core business +18.0 External net sales, Q2

  21. Financial overview Change % Mobile +139.0 International Carrier n/m Networks +8.1 Internet Services +58.3 Equity -86.2 Group-wide +21.1 Total for the Group +5.5 (MSEK) Q2 2001 Q2 2000 of which core business +35.0 Underlying EBITDA, Q2

  22. Financial overview Share of earnings in associated companies (MSEK) H1 2000 H1 2001 2000 Netia Holdings (Networks) -167 -1,922 -411 Baltic states (Mobile/Networks) 72 80 190 Unisource/AUCS (Networks) 1,063 -110 1,445 Comsource/Eircom (Networks) -520 -966 -933 Telia Overseas (Equity) -643 2,601 -1,719 Eniro (Equity) - 380 185 Other associated companies 127 -12 46 Total -68 51 -1,197

  23. Financial overview Participation Book Market (%) value value (MSEK) per 30 June per 14 Aug Eniro AB (Sweden) 49,1 1,453 8,144 Scandinavia Online AB (Sweden) 24,6 263 67 AS Eesti Telekom (Estonia) 24,5 587 1,122 AB Lietuvos Telekomas (Lithuania) 30,0 2,622 848 Netia Holdings S.A. (Poland) 48,1 528 269 Infonet Services Corp. (USA) 20,1 2,200 3,607 Eircom plc 14,0 2,733 3,824 Total 10,386 17,881 *) *) Incl. loans totaling MSEK 3,057 Market value, associated companies

  24. Financial overview CAPEX (MSEK) Q2 Q2 H1 H1 2000 2001 2000 2001 Mobile 342 681 576 1,187 International Carrier 1,966 1,111 2,454 2,258 Networks 1,263 1,445 2,002 2,881 Internet Services 125 240 232 476 Equity 534 207 810 485 Group-wide -389 -18 -48 -53 Total for the Group 3,841 3,666 6,026 7,234

  25. Financial overview Financial position 31 Dec 31 Mar 30 June 2000 2001 2001 Net interest-bearning liability (MSEK) 20,235 24,425 19,069 Balance sheet total (MSEK) 122,715 127,062 130,192 Debt/equity ratio (multiple) 0.37 0.42 0.33 Equity/assets ratio (%) 44.4 45.3 44.4

  26. Financial overview Change in net liability (MSEK) 9,234 7,405 6,362 1,078 20,235 788 19,069 1,501 Tax Net invest- ments Divest- itures Under- lying EBITDA Dividend Other 1 Jan 2001 30 June 2001

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