Peab builds a new hotel in Oslo

Peab's Norwegian subsidiary Peab AS has been commissioned to build new Scandic Hotel Fornebu in Oslo. Customer is IT Fornebu AS and Utstillningsplassen Eiendom AS and the contract amounts to NOK 300 million.
The hotel will be built at Fornebu in southwestern Oslo with view over the fjord, and it will contain 336 rooms, suites, a spa and an energy center for Fortum. Work will begin immediately and is expected to be completed in August 2012

For further information, please contact:

Bengt Qvillberg, deputy MD Peab AS +47 926 84 488

Gösta Sjöström, CIO Peab +46 733 371010

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

The information was submitted for publication at 10.00 am on 15 December 2010.

Previous press releases from Peab are available at www.peab.com

Peab is one of the leading construction and civil engineering companies in the Nordic countries with a net sale exceeding SEK 35 billion and approximately 13,000 employees. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.