NCC sells Oslo project for SEK 540 million

NCC sells Oslo project for SEK 540 million NCC Norway has concluded an agreement with Kontorbygg Holding I AS regarding the sale of the Sörkedalsveien 6 project in Oslo, Norway, for SEK 540 million. The sale will generate a development gain of SEK 70 2 million. NCC Norway will build a new 17,500-m office building at the Sörkedalsveien site. NCC Norway acquired Sörkedalsveien 6 in central Oslo in March 1999. At that time, it was the site of the old Philips building, which originated from 1957. During 1999, a decision was taken to demolish the property and construct a new 18-story office building. At the same time, an agreement was concluded with KPMG, the tenant that occupied most of the building. The Philips building was demolished on April 30 this year, by means of a spectacular blasting program that attracted considerable media attention. "Offering investors attractive development projects in expanding Nordic markets is part of our strategy," says Magnus Mannesson, President of NCC Real Estate. The new office building is scheduled for completion during autumn 2001. The development gain will be included in NCC Real Estate's profits for the second quarter of 2000, under the real estate development business. For further information, please contact: Magnus Mannesson, President of NCC Real Estate (Tel: +46-8-655 22 75) Stein Haugbro, Administrative Director, NCC Eiendom (Tel: +47-22 98 69 55 or +47-950 26 210) All NCC:s pressreleases can be found on www.ncc.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/19/20000619BIT00290/bit0001.doc http://www.bit.se/bitonline/2000/06/19/20000619BIT00290/bit0002.pdf