Selvaag Bolig ASA: Homes worth NOK 2 500 million sold in 2013

Selvaag Bolig ASA sold 740 homes with a combined value of NOK 2 500 million in 2013. The company had 1474 homes under construction at 31 December.

"This has been a good year for us," says CEO Baard Schumann. "We have a record number of homes under construction, which will ensure substantial value creation and good results in coming quarters."

Viewed in isolation, the fourth quarter saw 61 homes sold by Selvaag Bolig and 296 housing starts. A total of 101 units were completed, of which 101 were delivered to the buyer.

In addition, 17 units completed in earlier periods were delivered in the fourth quarter. Selvaag Bolig had eight completed but unsold homes at 31 December.

"Figures for housing starts in the quarter were very good," says Schumann. "Since sales of homes are first recognised in profit and loss on delivery to the buyer, this will give us positive results in later quarters.

"Housing sales in the fourth quarter were affected by a hesitant and price-sensitive market. We primarily sold homes in the NOK 2-4 million price segment."

Selvaag Bolig sold 1 011 homes with a combined value of 3.45 billion in 2012, and had 1 067 units under construction at the end of the year.

Further information from

Baard Schumann, CEO, Selvaag Bolig ASA Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no

Haavard Rønning, CFO, Selvaag Bolig ASA Telephone: +47 400 20 019, e-mail: hroe@selvaagbolig.no

Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under construction at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 60-year history and experience, and offers a broad variety of property types marketed under the brand names Start, Hjem and Pluss. The company is headquartered at Løren in Oslo.

www.selvaagbolig.no/investor

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.