Peab extends Kolbotn Centrum outside Oslo

Peab’s Norwegian subsidiary Peab AS has been contracted to carry out the extension of Kolbotn Centrum in the community of Oppegård outside Oslo. The project includes building a new shopping centre with parking places. This contract amounts to NOK 300 million. On the top of the shopping centre, 167 flats will be built, amounting to NOK 156 million. The completion of these flats will be made with same rate as the sale. The total contract thus amounts to NOK 456 million. The client is Kolbotn Torg AS. The work will begin in March 2006 and it is estimated to be completed during the summer 2008. Peab is already participating in the development of Kolbotn Center, with for example the building of Kolben culture- and activity centre, which was ready for use earlier in 2005. For further information contact: Eyvind Skaar, Project manager Peab AS 0047 979 60 435 Gösta Sjöström, Information manager Peab +46 733 37 10 10 Previous press releases from Peab are available at www.peab.com