Organisational change at BWG Homes

Thu, May 15, 2008 08:29 CET

(Oslo 15 May 2008) Ketil Kvalvik is stepping down as CFO of BWG Homes ASA. He has been on part-time secondment from LANI Group since autumn 2005. Due to increased activity in both companies, he has decided to return to a full-time position as CFO of LANI Group. Kvalvik will continue as CFO of BWG Homes until a new CFO has been appointed.

Further information from:

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

Ketil Kvalvik, CFO, BWG Homes ASA, tel: +47 23 24 60 42, +47 90 77 13 15

BWG Homes develops, sells and constructs residential homes in the Nordic region. The present brands owned by the group are Block Watne and Hetlandhus in Norway, Myresjöhus and SmålandsVillan in Sweden. BWG Homes sells and constructs homes through own residential projects and for individual customers. Ranked as a leading residential house builder in its markets, the group annually completes more than 2 500 new homes. BWG Homes has 1 330 employees. In 2007 the turnover was NOK 3.2 billion.