Update on sale of Ice Group Scandinavia Holding AS

Reference is made to previous announcements by ICE Group ASA (the "Company") regarding the sale of Ice Group Scandinavia Holding AS and associated assets to Lyse AS. The Company has been informed that the Norwegian Communications Authority ("Nkom") will approve the transfer of all frequency licenses. All material closing conditions are now completed. Closing of the Transaction is targeted for the end of March.

Lazard, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS are acting as financial advisors to the Company and Advokatfirmaet Gisvold AS and Ro Sommernes advokatfirma DA are acting as legal advisors to the Company. Advokatfirmaet Wiersholm AS is acting as legal advisor to the Company's Board of Directors.