Management change at “Fintur Holdings” B.V. – shareholder of “Azercell Telecom” JV.

Baku, December 28, 2006

Following the announcement of “TeliaSonera”’s new organisational structure last month, Mr. Serkan Elden has been appointed as CEO of “Fintur Holdings” B.V. to replace Mr. Erdal A. Durukan, who was appointed as President of “TeliaSonera” Eurasia earlier. Mr. Elden will take his new office on January 01, 2007.

Prior to his appointment as CEO, Mr Elden has acted as Senior Investment Advisor to “Fintur”’s Senior Management for the past 2 years in the areas of corporate governance, mergers and acquisitions in Eurasia. Before that, he had held senior management positions for investment management and advisory firms focused on the countries of the Former Soviet Union, including the emerging markets private equity funds of American International Group (AIG) and the U.S.-Government sponsored Central Asian-American Enterprise Fund.

Former CEO of “Fintur”, Mr Durukan, has been appointed as Chairman of the Board of Directors at “Fintur Holdings” B.V. to replace Kim Ignatius as of November 27, 2006.

“Fintur Holdings” B.V. is a partnership of “TeliaSonera” AB (with a 58,55 percent stake) and “Turkcell” (41,45 percent) and has been managing the operations of “TeliaSonera” Group companies in Eurasia since 1996. “Fintur Holdings” B.V. is the majority shareholder of the leading mobile operators in Azerbaijan (Azercell), Georgia (Geocell), Kazakhstan (K’Cell) and Moldova (Moldcell) with total subscribers of 6.8 million and and employees of 1,893.