See Note 32 to the consolidated financial statements for remuneration to management.

The Board of Directors' proposal for the remuneration guidelines, to be adopted at the Annual General Meeting on March 31, 2008, and substantially the same in wording as the remuneration guidelines adopted by the Annual General Meeting on April 24, 2007, is as follows:

The guiding principle is that remuneration and other terms of employment for the executives shall be competitive in order to assure that TeliaSonera can attract and retain competent executives.

The total remuneration package shall consist of fixed salary, variable components of annual variable salary and long term variable compensation, pension and other benefits. The fixed salary levels shall be set and reviewed on an individual basis and shall be aligned with the salary levels in the market in which the executive in question is employed. The annual variable salary shall be defined in a plan for a set period with set precise targets that promotes TeliaSonera's business goals. The level of the annual variable salary may vary between executives and can not exceed 50 percent of the fixed annual salary.

TeliaSonera does not presently have any share based long term variable compensation program.

Pension plans shall follow local market practice and, if possible, the defined contribution system shall be used for newly appointed executives.

The contract with executives shall require a period of at least six months from the employee and maximum 12 months (six months for the CEO) from the company with respect to resignation or termination of employment. Upon termination by the company, the executive shall be entitled to severance pay equal to his or her fixed monthly salary for a period of maximum 12 months (24 months for the CEO). Other benefits shall be competitive in the local market. If an executive resigns his or her position, he or she is not entitled to severance pay.

The Board of Directors may allow minor deviations on an individual basis from this remuneration policy.