Telenor Mobile Communications and Fast Search & Transfer Enter Into Strategic Partner Agreement for Development of New Wireless Services

TMC to Make FAST WAP Search, Positioning, and Multimedia Solutions Available to Wireless Internet Users Worldwide

Telenor Mobile Communications AS (TMC, ) and Fast Search & Transfer ASA (FAST, today announced that they have entered into a strategic partner agreement regarding the joint development of mobile Internet services. For the next three years, the companies will cooperate in developing search-function, positioning and multimedia solutions for mobile Internet portals. The collaboration will take place through projects in which the companies will share their development resources.

Telenor Mobile Communications is one of the world's most advanced mobile operators, with 16 mobile operations in 13 countries worldwide. "It's exciting when two Norwegian companies with major international ambitions join together to invest in mobile Internet technology," said Arve Johansen, managing director of TMC. "This partner agreement is strategically important for our commitment to the mobile Internet and" is TMC's mobile Internet portal and international effort to develop WAP, PDA and 3G services (the third-generation GSM system).

"We believe that we have the most advanced technology for enabling the information on the Internet to be accessible from a mobile device," said Rob Fisher, CEO of Fast Search & Transfer ASA. "Our wireless platform includes search, alert and image/video compression technologies for both current and next generation mobile devices. We are excited about working with Telenor Mobile Communications to realize the business potential available by deploying these wireless technologies in their target markets."

"Norway and Scandinavia have the most advanced mobile Internet markets in the world, and the users of the portal will be among the first to sample new solutions developed jointly by FAST and TMC," said Olav Henrik Kjorstad, the head of mFuture, TMC's development company. "With shared expertise, we'll create solutions that enable us to compete in a difficult international market."

"The goal of this partner agreement is to develop innovative and market-oriented services for the wireless Internet," said John M. Lervik, Chief Technology Officer of FAST. "Leveraging FAST's proven technology capabilities with TMC's experience in some of the world's most advanced wireless markets should yield solutions that have world-wide market potential."

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