Telenor Satellite Services and Addvalue Technologies Announce Strategic Business Agreement

SINGAPORE, OSLO, Norway, and ROCKVILLE, Maryland -- 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.About Telenor:Headquartered in Oslo, Norway, Telenor is an international provider of high quality telecommunications, data and media communication services.  Telenor is one of Norway's largest companies with 2004 revenues of approx NOK 61.3 billion (approximately US$ 9.1billion) and a workforce of 20,900 located in Norway and abroad.  Telenor is listed on the Oslo Stock Exchange (TEL) and NASDAQ in New York (TELN).Telenor Satellite Services is the world's preferred provider of global communications via satellite for customers on land, at sea, and in flight.   Telenor's expanded product portfolio offers broadband satellite solutions, on demand services, and an innovative menu of value-added services capable of meeting communications requirements of users around the globe.  Telenor also offers The Source®, a Web-based account management system available exclusively to Telenor Service Providers.  Telenor Satellite Services owns and operates a global network of teleports located at Eik (Norway) and Southbury (Connecticut) and Santa Paula (California) in the United States, and operates VSAT hubs at facilities in Nittedal (Norway) and Prague (Czech Rep).  The company uses the satellite systems of Inmarsat, Intelsat, Iridium, New Skies, Satmex, Thuraya and Telenor's own satellites for its services.  Telenor Satellite Services Web site is:  www.telenor.com/satellite.About Addvalue Technologies (www.addvaluetech.com)Addvalue Technologies Ltd is a leading digital, wireless and broadband communications solutions provider focusing mainly on satellite telecommunications, tracking, navigation and digital wireless applications. Its clients and business partners are global leaders in the communications, information technology and electronics industries.  Addvalue Technologies is listed on the Main Board of the Singapore Exchange (symbol:  addvaltech).For more information or photos contact: Tom Surface                       Director, Media & Public Relations    Phone: +1 301 838 7805 E-mail:  thomas.surface@telenor-usa.com