The contract with Stor-Bergen Boligbyggelag (a housing cooperative) is for the construction of 25 terraced houses at Nedre Natland. There will be six rows of houses. Each house will have a gross floor area of 126 m2, giving a total of 3,150 m2. Also included in the contract is the construction of garages and carports in addition to parking facilities for guests.

This is a turnkey contract and the work will be completed in spring 2007. The construction work has already started. The contract price is NOK 36.9 million excluding VAT.

The contract with Lønningen Eiendom AS comprises the construction of a combined workshop and office building at the Lønningen industrial estate. The premises total 850 m2 and will be rented to Volvo Maskin (heavy vehicles).

The building will be made of concrete elements. Construction has started and will be completed in February 2006. The contract price is NOK 7.8 million excluding VAT.

For further information, please contact:

Project Manager Arild Laukeland, Stor-Bergen Boligbyggelag,

tel. +47 55 94 27 00, mobile +47 906 77 401

Åge Skår, Chairman of the Board of Lønningen Eiendom,

tel. +47 51 63 50 70, mobile +47 907 48 937

District Manager Lars Rune Folkedal, Veidekke Entreprenør AS,

tel. +47 55 38 70 00, mobile +47 913 46 978