NPRO: Norwegian Property enters new agreements

Norwegian Property has entered into an agreement with Uno-X Energi AS to rent in excess of 2 700 square meters in Lysaker torg 35. Together with the recently announced lease contract with L’Oréal Norge AS, the agreement with Uno-X Energi AS imply that about one third of the office space in the building is let, when the present tenant vacates the building during spring 2013. The lease contract has five year duration on rent levels which reflect the property’s attractiveness and location. Uno-X Energi AS is today tenant of Norwegian Property in Drammensveien 134, which will go through a major renovation and modernisation from 2013.

In addition, Norwegian Property has signed a letter of intent with Total E&P Norge AS for an extension of the property in Finnestadveien 44 in Stavanger. The property is already let to Total E&P Norge, and the existing lease expires in 2021. Today, the building has a total area exceeding 22 000 square meters, and the parties aim to agree on an extension of the building of about 3 500 square meters. The tenancy agreement for the new space will have duration of 15 years.

CEO Olav Line says in a comment:

“The agreements which have been entered with Uno-X Energi and Total E&P Norge serve as a confirmation that there is good demand in the markets where Norwegian Property has its core business and geographical priority area.

Both Total E&P Norge and Uno-X Energi are already tenants of Norwegian Property. For that reason, it is particularly rewarding that they both wish to continue the co-operation with Norwegian Property also in the future.”

This information is subject of the disclosure requirements acc. to § 5-12.

For additional information, please contact:

Olav Line, CEO, tel. +47 482 54 149, ol@npro.no
Elise Heidenreich-Andersen, SVP IR, tel. +47 951 41 147, eha@npro.no

Norwegian Property is a focused and fully integrated office property company with 42 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.5 billion, is characterized by central location and attractive premises with low vacancy and high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.

Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.

www.npro.no