TEE: TeliaSonera AB: TeliaSonera Subsidiary Kcell Announces Intention to Proceed with International Offering in London and

  TEE: TeliaSonera AB: TeliaSonera Subsidiary Kcell Announces Intention to
  Proceed with International Offering in London and Almaty

UK Regulatory Announcement

STOCKHOLM

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AVAILABLE ON THIS WEBSITE BY TELIASONERA AB IN GOOD FAITH AND ARE FOR
INFORMATION PURPOSES ONLY.

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This announcement is an advertisement and not a prospectus. Investors should
not purchase or subscribe for any transferable securities referred to in this
announcement except on the basis of information in the prospectus to be
published by Kcell Joint Stock Company in due course in connection with the
admission of its common shares in the form of global depositary receipts to
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Kcell, the leading provider of mobile communications services in Kazakhstan,
today announced its intention to conduct an initial public offering of its
shares in the form of global depository receipts (GDRs) and a concurrent
offering in Kazakhstan in the form of common shares.

The offering will comprise the sale of existing shares held by Sonera Holding
B.V., a wholly owned subsidiary of TeliaSonera AB, in an amount of up to 25%
of the shares in Kcell.

“Kcell is an important part of our global operations and one of the most
successful subsidiaries of TeliaSonera”, says Lars Nyberg, President and CEO
of TeliaSonera. “We are fully committed to Kcell, which will continue to
benefit from using our global brand identity, participating in international
roaming and joint technology initiatives, including common procurement across
the TeliaSonera group. We will work with Kcell to ensure that it complies with
international best practice in terms of corporate governance and corporate
social responsibility as it makes the transition to a publicly listed
company.”

“We are very excited to be listing Kcell both domestically and
internationally. This is a significant milestone for our company, which over
the past fourteen years has led the formation and development of mobile
telephony in Kazakhstan”, says Veysel Aral, Chief Executive Officer of Kcell.
“We expect that the IPO will help us to further strengthen our corporate brand
and business reputation, improve our access to the international capital
markets and help us to grow our business further”.

Please visit Kcell press
center(http://www.kcell.kz/en/press-293/false?navipageId=561) for full
announcement.

TeliaSonera AB discloses the information provided herein pursuant to the
Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading
Act. The information was submitted for publication at 08.00 CET on 13.11 2012.

For more information, please call the TeliaSonera press office 46-771 77 58
30, press@teliasonera.com or visit our Newsroom
(http://www.teliasonera.com/en/newsroom/).

This press release does not constitute or form part of any offer or invitation
to sell, or any solicitation of any offer to purchase nor shall it (or any
part of it) or the fact of its distribution, form the basis of, or be relied
on in connection with, any contract therefore. The offer and the distribution
of this press release and other information in connection with the listing and
offer in certain jurisdictions may be restricted by law and persons into whose
possession any document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction.

This communication is only directed at (i) persons who are outside the United
Kingdom or (ii) investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") or (iii) high net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order
or (iv) other persons to whom it may lawfully be communicated (all such
persons together being referred to as "relevant persons"). The offered
securities are only available to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such securities will be engaged in
only with, relevant persons. Any person who is not a relevant person should
not act or rely on this communication or any of its contents.

This press release is not an offer to sell nor a solicitation to buy any
securities nor a prospectus for the purposes of EU Directive 2003/71/EC
(together with any applicable implementing measures in any Member State, the
"Prospectus Directive") as may be amended from time to time. This
communication is only addressed to qualified investors in that Member State
within the meaning of the Prospectus Directive. A prospectus will be prepared
and made available by Kcell in accordance with the Prospectus Directive if any
securities are issued and, when published, will be obtainable in accordance
with the Prospectus Directive. Investors should not subscribe for or purchase
any securities referred to in this press release except on the basis of the
information contained in the prospectus to be published by Kcell in due course
relating to the securities.The expression “Prospectus Directive” means
Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU,
to the extent implemented in any relevant Member State) and includes any
relevant implementing measure in the relevant Member State.

This press release may not be published, distributed or transmitted in or into
the United States. This press release does not constitute an offer to sell or
the solicitation of an offer to buy the securities discussed herein. The
securities mentioned herein have not been, and will not be, registered under
the United States Securities Act of 1933 (the "Securities Act") and may not be
offered or sold in the United States unless they are registered under the
Securities Act or pursuant to an exemption from registration. There will be no
public offering of the securities in the United States.

Forward-Looking Statements Statements made in the press release relating to
future status or circumstances, including future performance and other trend
projections are forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they relate to events and
depend on circumstances that will occur in the future. There can be no
assurance that actual results will not differ materially from those expressed
or implied by these forward-looking statements due to many factors, many of
which are outside the control of TeliaSonera.

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Contact:

TeliaSonera AB