Geir Skoglund new CEO of Block Watne AS

2/5/2013 1:50 AM EST

Geir Skoglund has been appointed CEO of Block Watne AS and will take up
his position in May 2013.
Geir Skoglund (46) is currently technical manager at Peab AS. He has
extensive management experience in construction and property
development. He has held senior positions and been a member of Peab
Norway's management group since 2008, previously having held management
positions at NCC Construction AS.

He is a civil engineering graduate (building and construction
engineering) of the Norwegian Institute of Technology (1995).

"We are delighted that Geir Skoglund is joining the team," says Lars
Nilsen, CEO of BWG Homes. "He brings valuable expertise that will
strengthen our business and ensure that Block Watne's operational
efficiency and well-functioning organisation continues."

"I look forward to taking over as CEO of one of the most exciting and
reliable house building companies in Norway," says Geir Skoglund. "I
also look forward to getting to know Block Watne's employees and
contributing to the further development of both the company and the
people there."

Ole Feet, who has been CEO of Block Watne since his appointment in June
2006, became Chief Operating Officer of BWG Homes Group in spring 2012.
He will now assume this role on a full time basis.

Contact information: Lars Nilsen, CEO, BWG Homes ASA, tel: +47 23 24 60
00

About Block Watne:
Block Watne AS is one of Norway's leading house builders. The
company delivers approximately 1,000 homes annually. Our own residential
projects - where we handle the entire value chain, from land acquisition
and development to sale and production - represent 90 percent of
operations. Project development, sales and construction are carried out
by employees through 21 regional offices. 420 of the company's 650
employees are carpenters. The company's turnover in 2011 was NOK 2.1
billion. Block Watne is ISO 9001 certified and is owned by BWG Homes
AS