Norvestor

Scandinavian Telecom has registered acceptances under the Offer for a total of 28,066,603 shares in Intelecom, which constitutes approximately 97.3 % of the shares and voting rights in Intelecom. The percentage has been calculated based on the issued share capital in Intelecom of 28,837,774 shares.

Oslo, Norway, 24 October 2008 - Norvestor V (GP) Limited acting as general partner of Norvestor V General Partner LP as general partner of Norvestor V L.P. (the "Fund") announces today that it intends to launch a voluntary cash tender offer (the "Offer") for 100% of the shares of Intelecom Group ASA ("Intelecom Group").

Marit Lambrechts er ansatt som ny konsernsjef i Nordic Vision Clinics. Hun er i dag administrerende direktør i Alliance Boots Norge, som hun har vært med å bygge opp siden 2001.

Norvestor Equity AS ("Norvestor"), a leading Norwegian mid-market private equity firm, has announced today the successful closing of Norvestor V, L.P. (the "Fund" or "Fund V") with total commitments of €236 million, well above its target size.

Norvestor V, L.P. ("Norvestor") has signed an agreement to acquire 70% of the Wema Group ("Wema" or the "Company"). Wema is the holding company of Wema System AS, Wema International AS and Wema Overseas AS.

Lars Fins (43 år) er ansatt som ny konsernsjef i Life Europe AB. Han er nå VD for Gooh! og markedsdirektør for Lantmännen Axa for Norden. Lars har tidligere vært VD for Gröna Konsum i Sverige, VD for D-Gruppen Närhandel, markedsdirektør for Coop i Sverige samt hatt flere lederstillinger i Dagab.

Henning Vold (44) has been appointed new Partner of Norvestor Equity AS. Henning joined the Norvestor team in 2001 as an Investment Manager.

Norvestor V, L.P. ("Norvestor") has acquired 70 % of RenoNorden AS ("Reno"). Reno is a specialist provider of waste collection services, focusing on municipal waste collection. The company is the market leader in Norway and has recently expanded to Sweden. Reno has grown strongly since the beginning of 2000, and had a turnover of NOK 257 million in 2007.