NPRO publishes information memorandum on the preliminary agreement regarding sale of Norgani Hotels

Norwegian Property ASA has today published an information memorandum in connection with the preliminary agreement regarding the sale of Norgani Hotels AS, reference is also made to Norwegian Property's extended stock exchange notice on 24 August 2010. Completion of the transaction is subject to i.a. the parties agreeing a full board approved sale- and purchase agreement, completion of debt financing and approvals by relevant competition authorities.

The main sections of the information memorandum are: risk factors, outline of the transaction based on the preliminary agreement, description of Norwegian Property, description of Norgani Hotels, information regarding Norwegian Property after the transaction, financial information for Norwegian Property and unaudited pro forma condensed combined financial information for Norwegian Property without Norgani Hotels.

Norwegian Property is publishing the information memorandum in accordance with section 3.5 of the continuing obligations for companies listed on the Oslo Stock Exchange.

The information memorandum is attached.

For further information, please contact:

Olav Line, CEO, telephone +47 48 25 41 49 or
Svein Hov Skjelle, CFO, telephone +47 93 05 55 66

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)