Co-ownership creates commitment

Every year Veidekke's employees are given the opportunity to purchase shares in Veidekke at a 20 percent discount. This year close to one third of the employees took the opportunity and bought a total of 1.36 million shares. "It is a significant boost for Veidekke that our employees choose to commit so strongly as co-owners of the company," says CEO Terje R. Venold.

"Veidekke has always worked to include employees as co-owners of the company, and the interest in buying shares was high this year too. 31 percent of Veidekke employees bought shares, and this is in line with previous years," says CEO Terje R. Venold.

"Following this autumn's sale, more than half of our employees own 19.6 percent of the company. This puts Veidekke in a unique position, and it is a significant strength for Veidekke that the employees so clearly demonstrate that they believe in the company and our future development, not least in light of the unrest that has characterized the global economy in recent years," concludes Venold.

This year the offer to buy shares at a 20 percent discount went out to 5,600 Veidekke employees in Norway, Sweden and Denmark. The buying price was NOK 39.90, which is the average price for the subscription period from 5 to 19 December 2010 with a 20 percent discount.  The shares are subject to a two-year lock-in period.

For further information, please contact:

Financial Director Jørgen G. Michelet, tel +47 21 05 77 22 / +47 91 74 38 56, jorgen.michelet@veidekke.no

Executive Vice President Communication and Public Affairs Kai Krüger Henriksen, tel +47 21 05 77 04 / +47 90 51 93 60, kai.henriksen@veidekke.no

Communications Manager Helge Dieset, tel +47 21 05 77 91 / + 47 90 55 33 22,
helge.diese@veidekke.no

Veidekke is one of Scandinavia's largest contractors with 6,000 employees and a turnover of NOK 16 billion. Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates, road maintenance and recycling. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals.  Veidekke is characterized by a decentralized organizational model with a strong corporate culture and a high degree of employee involvement. Over half the employees are co-owners, holding approx. 20% of Veidekke's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.