This is the fourth contract Veidekke Entreprenør AS has been awarded in connection the Tjuvholmen development on the Oslo waterfront. The total value of these contracts is approximately MNOK 670.

The new contract covers an area of about 3,200 square metres. The work includes sheet piling, excavation and handling of both clean and contaminated earth, and the construction of a basement car park using concrete cast on site.

The work will start in February and is scheduled for completion in October 2008. About 25 of Veidekke's own skilled workers will be employed on this contract.

For further information please contact:

District Manager Jarle Røe, Veidekke Entreprenør AS, phone +47 21057489,

jarle.roe@veidekke.no

Project Director Dagfinn Godell, Tjuvholmen Utvikling AS, mobile phone +47 90912224,

dg@tjuvholmen.com

VEIDEKKE ASA

Veidekke ASA is a leading Scandinavian building contractor and property developer with 6,350 employees and an annual turnover of NOK 16.4 billion (2006). Veidekke is listed on the Oslo Stock Exchange. It has a wide group of shareholders and 15 % of the shares are held by the company's employees. The company's activities cover a large range of building and construction contracts, development of housing and commercial projects for private and public customers, asphalt operations and road maintenance, and collection and recycling of waste.