Sollia Panorama in Halden is an exclusive, high-quality project consisting of 16 terraced flats, each of 120 m2. This turn-key contract is the result of competitive tendering, and has a value of approximately NOK 30 million excluding VAT. The developer is Arken AS. Sollia Panorama will be constructed from in-situ poured elements, and the main part of the construction work will be executed by Veidekke's own skilled workers. The project is scheduled for completion in June 2006.

The Elvepromenaden project is centrally located in Fredrikstad and consists of 25 flats of varying sizes. This is also a turn-key contract, which will be carried out in cooperation with Veidekke's Property Division. The contract price is approximately NOK 30 million excluding VAT. The building will be made from in-situ poured elements, and all the work will be carried out by Veidekke's own employees. The project will be completed in April 2006 and 50 per cent of the flats have already been sold.

In addition to the above mentioned projects Veidekke Entreprenør has been awarded two refurbishing contracts in Sarpsborg, each worth approximately NOK 8,5 million. One of the contracts is for exterior renovation of Toppen housing cooperative. The other is for extension and reconstruction work at the Storeper day care centre.

For further information, please contact:

District Manager Ragnar Johannessen,

Veidekke Entreprenør AS,

phone +47 69 97 27 00 / + 47 901 03 387