(Oslo, 19, October, 2007) In connection with the acquisition of Norgani Hotels ASA by Oslo Properties AS CEO of Norgani, Eva Eriksson has expressed a desire to be relieved of her duties as CEO. Thus, a process has been initiated to find a new CEO for Norgani Hotels. Oslo Properties expects to complete the recruitment process by the end of this year.

 

Also, an agreement has been reached with Eva Eriksson where she will continue to assist in the forthcoming integration process until a new CEO is appointed.

 

- I appreciate that we have finalised an agreement with Eva Eriksson and that she has agreed to assist the company in integration process until a new CEO is in place. We also look forward to co-operating with Norgani employees in order to ensure a smooth integration of Norgani Hotels, says Mr. Petter Jansen, CEO of Norwegian Property ASA, one of the major shareholders in Oslo Property AS.