NCC to develop Hausmanns gate 17 in Oslo for Teaching Association

NCC to develop Hausmanns gate 17 in Oslo for Norwegian Teaching Association NCC Eiendom AS of Norway has signed an agreement regarding the development of Hausmanns gate 17 in Oslo, on behalf of the National Teaching Association, an organization that resulted from the merger of two teaching unions in Norway. Under the agreement, the National Teaching Association will take over the property for SEK 233 M (NOK 194 M) on its completion. Sales revenues from this property are expected to be recognized in NCC's earnings in connection with its completion, in the beginning of 2003. The new property will have a total of approximately 9,200 square meters of floor space and is scheduled for occupancy in March 2003. Construction will commence in November this year. The Hausmanns gate 17 property will consist of a new nine-story office building, with an underground car park. The property will be joined to a completely refurbished factory building from 1879. A glazed atrium will be built in the area between the two properties. NCC has several development projects under way in this part of Oslo. The total refurbishment and renovation of Chr. Krohgs gate 32 will be completed this year and create a dynamic new environment for business operations active in the fields of advertising, market communication, IT and architecture. NCC has also initiated construction of 90 apartments in the area. Earlier this year, NCC acquired the "Villmarkshuset" building in the area for the future development of residential and commercial premises. För further information, please contact: Stein Haugbro, President NCC Eiendom AS tel +47 22 98 69 55 or +47 950 26 210 Gisela Lindstrand, Press Relation Manager NCC AB tel +46 8 585 52346 or +46 70 392 9500 All of NCC's press releases are available on www.ncc.se NCC is one of the leading construction and property development companies in the Nordic region. NCC has annual sales of approximately SEK 40 billion, with 25,000 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/2001/11/02/20011102BIT00040/bit0001.doc http://www.waymaker.net/bitonline/2001/11/02/20011102BIT00040/bit0001.pdf