"It is very pleasing to see the strong margin development across the operations and that the implemented efficiency measures are yielding results."

"I am however not satisfied with the market share development. We are now taking efforts to reverse the trend and increased market efforts will have an effect on operating income."

"Focus going forward is on commercial actions, continued synergy realization and efficiency improvements."

* Pro forma presentation as if the merger of Telia and Sonera had taken place on January 1, 2002 and excluding Telia's Finnish mobile operations and Swedish cable TV operations. Convenience translation only, conversion rate SEK 1 = EUR 0.108019.

Net sales for the TeliaSonera Group increased 3.6 percent to SEK 20,349 million during the first quarter compared to the same quarter of 2002, which includes fluctuations in exchange rates that negatively affected net sales by 1 percent.

Mobile communications showed strong growth in Norway, Denmark, the Baltic countries and Eurasia, while growth in Finland and Sweden was weak. Internet and broadband continued to increase in the Nordic and Baltic countries, while fixed voice sales continued to fall.

EBITDA increased 15 percent to SEK 7,562 million, mainly due to higher margins in the Swedish operations, continued strong earnings in Norway, and narrowing of losses from International Carrier. Consolidation of Fintur also had a positive impact.

There were no non-recurring items in the first quarter of 2003. Excluding non-recurring items in the comparable quarter, EBITDA increased 27 percent and the margin improved to 37 percent (30).

Income from associated companies decreased to SEK 23 million (2,419). Non-recurring items of SEK 2,015 million, mainly from the divestiture of Pannon, affected income in the comparable quarter.

Operating income totaled SEK 3,227 million (4,625). Excluding non-recurring items in the comparable quarter, operating income improved SEK 1,217 million.

Financial items totaled SEK -516 million (49), of which sales and write-downs of financial investments in Holding totaled SEK -198 million (151).

After minority stakes and tax, net income was SEK 1,602 million (3,878), and earnings per share SEK 0.34 (0.83).

The substantial increase in EBITDA and low CAPEX generated strong free cash flow (cash flow from operating activities less CAPEX) of SEK 3,897 million (-289). Disbursements from restructuring reserves affected free cash flow by SEK -417 million. Remaining restructuring reserves for future disbursements totaled SEK 4,243 million at the end of the first quarter.

The strong cash flow enabled the Group to strengthen its financial position by reducing its net debt by SEK 3,427 million to SEK 34,648 million during the quarter.

Telia's and Sonera's operations were rapidly integrated and a new division of responsibilities was implemented in order to ensure customer-orientation and synergies.

Responsibility for day-to-day operations is decentralized to four geographic profit centers: TeliaSonera Sweden, TeliaSonera Finland, TeliaSonera Norway, Denmark and Baltic Countries, and TeliaSonera International. The units are organized and staffed.

A new head office has been established and staffed. Corporate Headquarters includes two Group-wide units with overarching responsibility for the Group's product portfolio, infrastructure, IT-systems and purchasing and for realizing synergies within these areas.

Several initiatives were taken in order to generate synergies by negotiations with suppliers and by eliminating dual corporate functions, overlapping network resources, dual MMS platforms, dual IT software licenses, and dual roaming agreements.

The initiatives that have been taken thus far are expected to yield annual cost savings of SEK 436 million and annual investment savings of SEK 127 million by the end of 2005, which is ahead of schedule. The actions had only a minor effect during the first quarter. One-off expenses for implementing these synergies are estimated to less than SEK 100 million during the period 2003-2005. No expenses for synergies implementation were reported in the quarter.

Profit centers TeliaSonera Sweden and TeliaSonera Finland initiated negotiations with the union organizations on redundancies. In Finland it is currently estimated that 400 jobs will be affected, while the effect in Sweden will be determined before summer.

The redundancies are a result of the merger, which generates overlapping within several areas, but these are also due to the introduction of a simpler and more customer-oriented organization and the ongoing streamlining efforts within each profit center.

On April 23, 2003, TeliaSonera signed an agreement for the sale of the cable television business Com Hem AB in Sweden to the venture capital company EQT Northern Europe. The sales price totals SEK 2,150 million and the sale is expected to generate a positive cash flow of over SEK 1,900 million.

The divestiture was one of the commitments made by Telia vis-à-vis the European Commission in conjunction with the merger between Telia and Sonera.

The execution of the deal is contingent on the approval of the European Commission and anti-trust authorities. TeliaSonera expects to record the transaction, which will not generate any capital gain in the pro forma income statement, in the second or third quarter of 2003.

Due to generally slow growth in the market and a high level of activity among competitors, external net sales fell somewhat during the quarter. Sales of mobile communications increased 1 percent while sales of fixed communications decreased 1 percent. Increased competition within fixed voice with an extensive range of discounted offers caused TeliaSonera to lose market shares in the consumer segment during the quarter.

Profitability improved and the margin increased to 41 percent (33), due to the effects of streamlining measures in 2002 and low external costs within development and administration. The largest cost savings were within fixed communications. Marketing costs are expected to increase.

CAPEX decreased to SEK 601 million (1,122). Investments were kept low in networks and other production platforms. During the first quarter, SEK 66 million (97) was invested in mobile communications and SEK 535 million (1,025) in fixed communications.

In order to face the tougher competition on the consumer market, extensive preparations were made for developing new attractive offers that were launched on the market in May and that are expected to increase customer loyalty and counter market share drop.

The main events during the quarter in the Mobile product area were the launch of MMS and a campaign regarding Classic mobile subscriptions. In the product area Internet and Data Services, the order process for broadband services through the web was made fully automatic. The extended reach for ADSL will make broadband available to an additional 170,000 customers and two new types of subscriptions will be launched in order to increase the range of choices for customers.

Efforts have been made to improve service for small and medium-size companies by increasing local presence, segmenting the market and developing new offers. Loyalty programs are being implemented.

Several activities were carried out on the market in order to win back customers. These activities were effective during the quarter, particularly within fixed communications. Demand for value-added services was strong.

Several event activities were carried out in different cities. A major marketing campaign was successfully run together with the Large Corporate Customers segment.

The sales organization was trimmed and new offers were developed in order to support large companies and organizations in their business development efforts.

TeliaSonera's market position among large companies and organizations was further strengthened by offering solutions that integrate fixed and mobile communications, voice and data and several prestigious deals were made during the quarter.

The launch of IT-related communications services was positively received on the market.

The launch of Telia GPRS LAN access spurred greater interest in mobile data solutions. In order to promote Telia Mobile Mail Access, several executives and other key persons were given the service during a trial period.

In the Operators segment demand increased for fixed voice, mobile services as well as Internet and data services. Growth derived from strong customer growth within fixed voice and increased demand for mobile roaming, co-location, hosting and content. Within Internet and Data Services, sales increased mainly due to strong development in ADSL with two new products launched during the period.

External sales in mobile communications increased only 1 percent to SEK 2,480 million (2,447); due to relatively weak market development, a lower price level (3 percent) and a greater share of prepaid card customers.

Among consumers, demand for prepaid cards was strong while demand for post-paid subscriptions were weak in both the Consumer and Business segments.

The number of mobile customers increased by 67,000 to 3,671,000 during the quarter. Prepaid cards increased by 67,000 to 1,854,000, while the number of subscriptions was on the same level (1,817,000). The number of customers via service providers climbed by 14,000 to 102,000.

The average monthly traffic volume per customer (MoU) decreased to 120 (121) minutes and ARPU dropped to SEK 252 (262) due to a greater share of prepaid card customers. For subscription customers, MoU climbed to 191 minutes (176) and ARPU rose to SEK 414 (397). The number of sent SMS messages per customer and month increased to 14 (11). Churn remained at the same level, 11 percent.

EBITDA improved to SEK 1,235 million (1,137) and the margin was strengthened to 44 percent (42).

On March 31, 2003, Svenska UMTS-licens AB, jointly owned by TeliaSonera and Tele2, requested permission to delay the completion of the 3G network in Sweden. At the end of the quarter, investments in the 3G network totaled SEK 664 million.

Within fixed communications, external net sales fell 1 percent to SEK 7,712 million (7,816). Fixed voice decreased 1 percent to SEK 5,448 million, of which traffic sales dropped 6 percent to SEK 2,468 million. The decrease was on the retail market, where TeliaSonera lost market shares in the consumer segment. Traffic sales on the wholesale market increased during the quarter.

Sales from subscriptions and value-added services climbed 3 percent to SEK 2,980 million, which is attributable to increased demand for premium rate calls, caller ID and TeleSvar voicemail. The number of subscriptions fell by 24,000 to 5,534,000 and ISDN channels by 54,000 to 829,000.

Demand remained high within Internet and Data Services and sales increased 7 percent to SEK 1,911 million. This growth was primarily within Internet access, where the number of customers with dial-up Internet increased by 21,000 to 784,000 and the number of broadband customers (ADSL) increased by 24,000 to 341,000. The Internet business now reports positive EBITDA.

Fixed communications showed earnings improvement and EBITDA increased to SEK 3,019 million (2,313). The margin strengthened to 39 percent (29), excluding non-recurring items of SEK -51 million during the comparable quarter.

External net sales increased during the first quarter by 3 percent and earnings remained strong. Amortization of goodwill and fair value adjustments from the merger affected operating income by SEK -519 million (-512).

CAPEX levels were maintained and included SEK 200 million (185) from mobile communications and SEK 191 million (228) from fixed communications.

In the consumer segment, a wide range of activities was underway during the quarter to prepare for number portability and improve customer loyalty.

Usage per mobile subscriber increased and GPRS subscription growth was strong. The number of subscriptions fell due to overall high churn level in the market.

The number of broadband customers increased, while the number of dial-up customers decreased slightly due to migration to broadband.

Several new services were launched for the new color display handsets, including an award-winning real-time hockey league update service. In March, a pilot was launched that enables customers to watch video on their GSM mobile phones with GPRS functionality.

The sales units now act as a single point of contact for the segment and the sales organization has been restructured into four geographical areas in order to get closer to the customers.

The new sales management model boosted business customer sales despite increased competition. Sales of data services, particularly DSL-based services, increased and usage of mobile data grew.

Number portability, which will be introduced during the second quarter, is expected to further increase competition. However, improved quality of service, customer care and combined service offerings are being planned to meet increased competition.

The sales unit was reorganized during the first quarter to better meet corporate customer needs.

TeliaSonera's ability to offer global and especially pan-Nordic services generated positive response from customers.

In April, the Finnish Parliament selected TeliaSonera Finland to provide home office services for Parliament members.

A downturn in the Finnish business environment reduced demand from corporate customers due to their own intensified activities to adjust their cost base. Price competition intensified especially within the data market.

Interest for operator products grew within the mobile product area. A new service operator, Globetel, chose TeliaSonera as its network provider for mobile communications.

The usage of mobile services continued to increase, though the market faced downward pressure on prices. TeliaSonera adjusted subscription prices to simplify the pricing structure and to be more competitive in the mobile market. External net sales increased by 1 percent to SEK 2,690 million (2,657) during the quarter.

The number of GSM subscriptions decreased by 37,000 to 2,453,000. Mobile churn was high, at 15.8 percent (12.3), because of the exceptionally large number of disconnections in January. The churn levels recorded in February and March were moderate.

TeliaSonera Finland continued activities to increase voice and messaging usage. Outgoing minutes of use increased to 151 minutes (143) and the number of SMS messages per customer and month increased to 27 (26). ARPU decreased to EUR 38 (39) due to declining prices.

EBITDA totaled SEK 1,393 million (1,374) and the margin was 51 percent (51).

The build out of the 3G mobile network continued and the network will be commercially launched as soon as there are sufficient terminals available and the network technology is feasible.

External net sales increased 6 percent to SEK 1,574 million (1,489). Internet and data services increased 3 percent to SEK 606 million (588). The number of consumer broadband Internet subscriptions climbed during the first quarter by 11,000 to 81,000, while the number of consumer dial-up subscriptions decreased by 7,000 to 174,000. In corporate data services, customers are migrating from Frame Relay services to DSL-based services. Particularly smaller SME companies choose ADSL services.

Fixed voice sales decreased 3 percent to SEK 668 million mainly as an effect of the increase of mobile and broadband usage. Traffic sales decreased 2 percent to SEK 354 million, while subscriptions and value-added sales decreased 3 percent to SEK 314 million. The number of fixed voice subscriptions decreased by 9,000 to 494,000, and the number of ISDN channels decreased slightly to 218,000.

For customer equipment and others, external net sales rose to SEK 300 million (213).

EBITDA decreased to SEK 430 million (441) and the margin weakened to 27 percent (29).

NetCom carried out several marketing activities during the quarter, aimed at promoting the use of wireless communications. The activities met with great success and contributed to a 27 percent increase in external net sales despite tougher competition. The increase is attributable to customer growth as well as increased traffic per customer.

The number of mobile customers climbed by 63,000 to 1,151,000, while the number of customers via service providers dropped by 13,000 to 77,000. The average monthly traffic volume per customer increased to 155 minutes (144), leading ARPU to climb to NOK 353 (326). The number of sent SMS messages per customer and month increased to 70 (57).

Continued customer growth, increased traffic per customer and streamlining costs affected earnings, and both EBITDA and operating income showed improvement. The repayment from Telenor of SEK 42 million due to overcharged prices on leased lines also had a positive effect on earnings.

To further increase market penetration, an agreement was signed with Telering for reselling NetCom's services in Norway. A general agreement was signed with COOP Norge for delivery of mobile communications to the organization's 928,000 members.

The Norwegian government decided in the beginning of 2003 to allow the holders of 3G licenses to postpone the build out of 3G, which means that NetCom has an additional 15 months to complete the network.

Earnings in the Danish operations improved for both the fixed and mobile businesses. CAPEX fell to SEK 74 million (289), due to the restructuring and concentration of the fixed network operations. Of the investments, SEK 25 million (36) referred to mobile communications and SEK 33 million (253) referred to fixed communications.

Competition increased on the Danish market. Service providers offered attractive per-minute rates while operators mainly competed by offering attractive mobile phone prices.

TeliaSonera concentrated its efforts on streamlining the operations, improving service to customers and increasing the profitability of its customer base. Customers who despite repeated reminders had not paid their bills were disconnected, causing the number of customers to drop by 28,000 to 438,000 during the quarter. Increased market activities are planned.

External net sales climbed 77 percent, however, to SEK 289 million (163) and the average traffic volume per customer and month increased 18 percent. The number of sent SMS messages per customer and month surged to 49 (23). EBITDA improved to SEK -4 million
(-128).

A subscription targeting young people (Telia Xpress) was launched during the quarter. On February 28, a fee of DKK 3 was introduced for each MMS message sent.

Establishing the 3G network in Denmark is in a start-up phase. According to the license requirements, the network will cover 30 percent of the population at the end of 2004.

The restructuring efforts in the Danish fixed-line operations aimed at remedying the poor profitability are now starting to yield results. Compared with the fourth quarter of 2002, EBITDA, excluding restructuring costs, improved from SEK -494 million to SEK -57 million. The closedown of operations caused external sales to drop from SEK 280 million to SEK 262 million compared with the fourth quarter.

The restructuring efforts will continue in the second quarter by phasing out additional technology and office facilities, leasing and service contracts.

Most of the restructuring is expected to be complete before the end of the year. SEK 89 million of the restructuring reserve, which totaled SEK 487 million at the end of 2002, was utilized during the first quarter. 60 percent is expected to be reversed during 2003 and the remainder during the next three-year period.

For Internet and cable television operations in Stofa, external sales rose by 22 percent to SEK 145 million. The number of cable television customers increased by 1,000 to 189,000 and the number of customers with broadband Internet increased by 6,000 to 87,000. EBITDA improved to SEK 35 million (12).

The mobile operator Omnitel reported a 10 percent increase in external net sales to SEK 439 million (399) and the number of customers climbed by 5,000 to 855,000. Growth was 16 percent in local currency. EBITDA improved to SEK 220 million (140) and the margin increased to 50 percent (35). As a step in the ongoing customer-orientation, loyalty programs were launched for both business customers and consumers.

Operating income increased to SEK 80 million (31).

The fixed network operator Lietuvos Telekomas' external net sales fell 22 percent to SEK 511 million (652), mainly due to strong price competition from the mobile sector. Sales of fixed voice dropped 29 percent and the number of subscriptions fell by 43,000 to 893,000.

ADSL, however, increased by 2,000 to 13,000 and the number of ISDN channels by 1,000 to 36,000.

Decreased sales affected EBITDA, which fell to SEK 277 million (354), but the margin is still very high, 53 percent (54).

Lietuvos Telekomas has undergone extensive restructuring. The number of employees was further reduced by 400 during the quarter.

The continued focus is to win back customers and develop the Internet and data business taking advantage of the modern and developed network.

The modernization of the fixed network entailed substantial depreciation and affected operating income, which fell to SEK -27 million (69) during the quarter.

The mobile operator Latvijas Mobilais Telefons' external net sales totaled SEK 431 million (436). Growth was 11 percent in local currency. The customer base increased by 28,000 to 502,000. MMS was launched during the quarter.

EBITDA and the margin remained on approximately the same level as during the comparable quarter. Operating income increased to SEK 144 million (135).

The fixed network company Lattelekom (associated company) reported reduced sales and earnings during the quarter. Share of net income totaled SEK 10 million (50). After amortization of badwill, income from Lattelekom was SEK 52 million (83).

The mobile operator EMT (associated company) reported increased sales and earnings. Share of net income totaled SEK 65 million (21). After amortization of goodwill and fair value adjustments, income from EMT was SEK 44 million (-1).

The fixed network operator Eesti Telefon (associated company) also reported increased sales and earnings. Share of net income totaled SEK 26 million (8). After amortization of goodwill and fair value adjustments, income from Eesti Telefon was SEK 14 million (-4).

Fintur (consolidated as of September 2002) reported good sales and earnings development. External net sales (in USD) rose 27 percent and EBITDA improved 10 percent compared with the same quarter 2002. The number of subscriptions increased by 113,000 to 1,727,000, primarily attributable to prepaid cards. In absolute numbers, growth was highest in Kazakhstan.

* Four months

Fintur increased its holdings in Moldcell in Moldova from 77 to 100 percent during the quarter. The majority of CAPEX was attributable to operations in Kazakhstan and Azerbaijan.

In Kazakhstan, Fintur's largest market, KCell increased its customer base during the quarter by 40,500 to 655,000 and the company maintained its leading position on the market (73 percent).

In Azerbaijan, Azercell increased its customer base by 33,500 to 702,000 and maintained its market share (over 80 percent).

In Georgia, Geocell increased its customer base by 33,900 to 232,400, increasing its market share to over 40 percent.

In Moldova, Moldcell increased its customer base by 5,100 to 137,400 and the company currently has 50 percent of the market.

The mobile operator MegaFon (associated company) reported increased sales and earnings during the quarter. The number of subscriptions increased by 543,000 to 3,573,000. Customer growth was strongest within the prepaid segment. Growth was strong across all regions where MegaFon has operations. The highest absolute increase in subscribers was in the Northwest region.

Share of net income totaled SEK 90 million (64). After amortization of goodwill and fair value adjustments, income from MegaFon increased to SEK 34 million (4).

MegaFon has licenses nationwide in Russia. At the end of the quarter, the company had commercial operations in all major regions except Siberia and Far East.

The company is the third largest mobile operator in Russia and maintained its position on the market during the quarter.

Turkcell (associated company) retained its leading position in terms of both overall market share and share of new subscriptions despite stiffer competition on the Turkish market. The number of customers climbed by 589,000 to 16.3 million during the first quarter of 2003.

Earnings and revenues continued to improve and share of net income increased to SEK 108 million (-175). After inflation adjustments, amortization of goodwill and fair value adjustments, income from Turkcell totaled SEK 55 million (858).

The Turkish economy showed signs of recovery from the worst of the financial turmoil of 2001. Although the economy remained somewhat fragile, macroeconomic indicators and consumer sentiment showed improvement during 2002.

Turkcell's financial figures are included in TeliaSonera's reporting with a one-quarter lag.

The ongoing restructuring program had a very positive impact during the quarter. Volume growth continued, particularly within IP traffic. The concentration of operations and sustained price pressure caused external net sales to fall 10 percent compared with the same quarter 2002, however.

Both EBITDA and operating income showed improvement. CAPEX was reduced since equipment from closed technical facilities can now be redistributed to areas that are expanding to meet increased customer demand.

In the part of the operations previously managed by Telia, external sales dropped 9 percent to SEK 916 million (1,006), due to the closedown of unprofitable operations, mainly domestic voice sales via resellers in the United Kingdom. Net sales of IP traffic increased 47 percent.

Major cutbacks on staff, leased lines and technical facilities improved EBITDA excluding non-recurring items to SEK -44 million (-333) and operating income excluding non-recurring items to SEK -165 million
(-528).

SEK 218 million of the restructuring reserve, which totaled SEK 3,854 million at the end of 2002, was utilized during the quarter. Approximately 50 percent is expected to be utilized during 2003 and the remaining part used later during the phase-out of long-term contracts for submarine cables and technical facilities.

The most important short-term goal is to attain positive cash flow on a monthly basis in 2003, excluding restructuring costs.

In the part of the operations previously managed by Sonera, sales of capacity and IP traffic increased on the Russian market. Weak development of the U.S. business affected sales, which fell 14 percent to SEK 286 million (334).

EBITDA excluding non-recurring items fell to SEK -1 million (47), of which bad debt expenses affected earnings by SEK 15 million. Operating income excluding non-recurring items fell to SEK -34 million (18).

TeliaSonera Holding is responsible for non-core assets that are being restructured or that will be divested or phased out.

On March 21, 2003 the Spanish government decided to reduce the amount of bank guarantees of Xfera (3G investments in Spain) leading to TeliaSonera guarantees being reduced from EUR 383 million to EUR 67 million.

Sonera Zed reduced losses in EBITDA to SEK -4 million (-54). Yahoo! Inc. owns 15 percent of Zed and has the right to purchase up to 100 percent of the company over the next two years.

Several businesses were divested, including Telix in Russia and Marakanda Marknadsplats AB. Respons within the Telefos Group (49 percent holding) was sold.

On April 23, 2003, TeliaSonera signed an agreement for the sale of the cable television business Com Hem AB in Sweden to the venture capital company EQT Northern Europe.

The closing down of the satellite operations was completed.

The restructuring of Swedia Networks and Ki Consulting & Solutions within the Telefos Group continued during the quarter.

Holding's external net sales fell during the quarter due to the major divestitures in recent years, while sales for comparable units increased 12 percent.

The carrying value of TeliaSonera's holding in Infonet Services Corp. is higher than the current market valuation, based on Infonet's listed B shares. However, TeliaSonera also holds non-listed A shares with tenfold voting rights and the liquidity of the B share is low. Furthermore, TeliaSonera believes that Infonet's current financial position is strong. TeliaSonera will make a thorough impairment analysis of its holding in Infonet during the second quarter of 2003.

Excluding capital gains during 2002, income from associated companies improved to SEK -158 million (-545).

Operating income excluding non-recurring items improved to SEK
-208 million (-696), primarily due to the fact that the 3G investments in Germany no longer burden earnings after the 2002 write-down and positive development within Sonera Zed and Sonera SmartTrust. Due to major capital gains in the comparable quarter, EBITDA and operating income declined.

CAPEX primarily referred to leasing operations within Finans/Credit.

With the completion of the mandatory redemption offer that commenced on December 30, 2002 and expired on January 31, 2003, TeliaSonera's total holding of securities in Sonera corresponded to 99.4 percent of the shares and voting rights after full dilution. In connection with the mandatory redemption offer, it was decided to increase the company's share capital by SEK 222,321,100.80 through a new share issue of 69,475,344 shares. After the new share issue, TeliaSonera's share capital totals SEK 14,960,742,620.80, divided into 4,675,232,069 shares.

The remaining Sonera shares were acquired through compulsory acquisition when TeliaSonera on March 21 issued a guarantee in accordance with the decision of the arbitration court for the compulsory acquisition procedure. TeliaSonera thereby owns all outstanding shares in Sonera, and the Sonera share has been delisted from the Helsinki Exchanges.

Sonera has also applied for the delisting of option 1999A from the Helsinki Exchanges.

Actions to improve efficiency are yielding results faster than anticipated.

In the current business and regulatory environment the TeliaSonera Group is expecting an annual revenue growth of a few percentage points. Necessary increase in market efforts will put a pressure on operating income.

We believe that a sustainable EBITDA margin of 34 percent will be reached sooner than previously expected. Full year CAPEX is expected to be around the level of 2002.

In the longer term, TeliaSonera expects a significant increase in profits and cash flow.

Stockholm, May 8, 2003

Anders Igel

President and CEO

We have made a review of this interim report in accordance with recommendations issued by the Swedish Institute of Authorized Public Accountants. A review is substantially limited in scope in comparison to an audit. Nothing has come to our attention that indicates that this interim report fails to comply with the requirements of the Swedish Securities Exchange Act and International Accounting Standards (IAS).

Stockholm, May 8, 2003

Ernst & Young AB

Torsten Lyth

Authorized Public Accountant

Lars Träff

Authorized Public Accountant

2) Including eliminations between fixed and mobile communications