NCC receives orders worth NOK 300 million for residential construction in Oslo

NCC receives orders worth NOK 300 million for residential construction in Oslo NCC Construction Norway has received orders worth a total of NOK 300 million (approx. SEK 320 million) for residential construction in the Oslo region in the past few weeks. Including these orders, NCC will build more than 1,000 homes in Oslo during 2004 and 2005 for a total of about NOK 1.3 billion (approx. SEK 1.4 billion), making NCC one of the largest residential builders in the region. NCC will build 296 small apartments for Oslo- och Akershusskolans Studentsamfund (OAS), a student association. The project has an order value of NOK 85 million. In addition, NCC will build the second phase of Kingosgate for the Viken Bolig housing company. The project has a total value of NOK 167 million and comprises 112 apartments. NCC has been commissioned by Uranium to build multi-family dwellings with a total of 112 apartments as part of the "The Happy Quarter" project in Sandaker. The first building is scheduled for completion in August 2005 and the second in November 2005. The project has an order value of NOK 75 million. Moreover, NCC is planning the launch of Phase II of the Salmakertunet project in Ski, which comprises a total of 46 apartments. The project will be conducted on a proprietary basis and the investment in the second phase will amount to NOK 50 million. Construction will commence when 60 percent of the apartments have been sold. Phase I, for which construction is under way, comprises 44 apartments at an investment cost of NOK 47 million Three of the recently secured contracts will be Partnering projects. NCC Partnering is a form of cooperation that involves all of the participants in a project working towards the same goals on an open-books basis and solving any problems that arise in cooperation. The partnership starts in the project-planning phase, during which the project plan is formulated by the customer and his advisor, the contractor and the subsuppliers. Any cost savings or additional costs that arise are shared by all of the parties. As a result of the orders received recently, NCC Construction Norway has become one of the largest residential builders in the Oslo region. NCC Construction Norway worked hard in 2003 to improve its profitability, following the large losses it reported for 2001 and 2002. In 2003, the company reversed its negative earnings trend and reported an operating profit of SEK 58 million. Sales totaled SEK 4.4 billion. For further information, please contact: Terje Eknes, distriktschef Bolig Oslo, NCC Construction Norway, tel +47 975 56 335 Gunnar Rinde, administrativ direktör, Bolig NCC Construction Norway, tel. +47 952 18 831 Øyvind Kvaal, informationschef NCC Construction Norway, tel. +47 900 76 910 Annica Gerentz, t.f. presschef NCC AB, tel. +46 8 5855 2204, +46 70 3980 4209 All of NCC's press releases are available on www.ncc.info NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2003 sales of SEK 45 billion, with 24,000 employees. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/14/20040414BIT20220/wkr0006.pdf