STOCK EXCHANGE RELEASE
November 29, 2000, 6:00 p.m.

Sonera and Enitel granted 3G licence in Norway

The Broadband Mobile ASA consortium formed by Sonera Corporation and Norwegian telecommunications company Enitel AS has today been granted a third generation mobile network licence in Norway. The companies are equal partners (50%/50%) in Broadband Mobile ASA.

The Norwegian State granted four third generation licences for twelve (12) years on the basis of applications (so-called Beauty Contest). Each licence is granted a frequency band of 2x15+5 MHz. The licence fee is NOK 200 million, or EUR 25 million.

The key criteria for the grant of the mobile network licence were the coverage of the UMTS network in view of both the geographical area and the population and the schedule in which the network can be put to commercial use.

Norway is one of the leading countries in the world as regards the use of both mobile communications and the Internet. The mobile phone penetration in Norway is over 70%. Norway has 4.5 million inhabitants, most of them living in an area that covers only 4% of the country. There are two operators providing second generation mobile communications services in Norway.

Sonera's partner Enitel AS is a telecommunications company established by Norway's regional power companies, and it provides fixed network services for both business and consumer customers in Norway. The company is listed on the Oslo Stock Exchange. The power companies own almost 40% of the company's shares. Enitel started conducting GSM service provider business in GSM operator Netcom's network in October 2000.

Sonera has a third generation mobile network licence Finland, and Sonera's associated company Xfera S.A. (Sonera 15%) holds a corresponding licence in Spain. Group 3G, a joint venture of Sonera (42.8%) Telefónica (57.2%), has a third generation network licence in Germany. In addition, the Ipse consortium (Sonera 12.55%) has a third generation mobile network licence in Italy.

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August 9, 2001

Sonera reassesses its Norwegian 3G business

The Board of Directors of Sonera's Norwegian subsidiary Broadband Mobile ASA (Sonera 50%, Enitel ASA 50%) has decided to take immediate measures to liquidate the joint venture. The move is based on Enitel's material change of strategy to focus on its core business and to divest its shares in 3G business.

"Our decision to apply for a 3G license in Norway was based on our aim of gaining a 3G license in Finland, Norway and Sweden. However, we did not receive a license in Sweden, so the scaling and synergy benefits that we expected to achieve with geographically adjoining mobile communications markets did not realize. The decision is also supported by the small size of the Norwegian mobile communications market", says Senior Vice President Aimo Olkkonen, in charge of Sonera's international mobile business holdings and their development.

"Enitel's change of strategy to focus on its core business and to divest its shares in 3G business. and the lack of a buyer for Broaband Mobiles shares required Sonera to either to take possession of the whole company or place it into liquidation. Sonera's strategic choice has been not to run operator business outside Finland as a majority shareholder. Thus the only option in accordance with our strategy was to immediately take measures to place the company into liquidation, Olkkonen continues"

Broadband Mobile ASA received a UMTS license on 29 October 2000. The NOK 200 million (EUR 25 million) license price has been settled and no penalties will be incurred in returning the license to the State of Norway.

Broadband Mobile's external liabilities total approximately EUR 28 million (NOK 220 million), for which the company's bankrupt estate will be liable in accordance with the laws of Norway. The company has not concluded any agreement on purchasing a UMTS network.

The decision on placing Broadband Mobile into liquidation and on discontinuing the company's operations is individual and based on our local partner's decision to withdraw from our joint venture. It has no impact on Sonera's other 3G mobile communications associated companies in Germany, Italy and Spain", stresses Olkkonen.

Sonera's total investment in Broadband Mobile ASA is approx. EUR 18 million (NOK 145 million, including license fee). Sonera will enter a loss of approximately EUR 14 million in its third quarter financial results due to the discontinuation of Broadband Mobile ASA's business operations and will not incur any future capital or operating expenses related to the venture.

Sonera (HEX:SRA, NASDAQ:SNRA) is an international forerunner in mobile communications and mobile-based services and applications. By combining its expertise in mobile communications, the internet and service provision, Sonera aims to develop into a global communications operator and provider of transaction and content services. The company also provides advanced data communications solutions to businesses, and fixed network voice services in Finland and its nearby areas. In 2000, Sonera's revenues amounted to eur 2.05 billion, and profit before extraordinary items and taxes was eur 1.86 billion. Sonera employs more than 11,200 people.