Veidekke makes arrangements each year for Group employees to purchase Veidekke shares at a favourable price and with financing. This year the shares were offered at a 20 per cent discount on the market price during the subscription period from 21 to 25 November 2005. The average price was NOK 177 and Veidekke employees were thus able to purchase shares for NOK 142 each. The commitment period is two years.

Great importance was attached to advance information to the employees, particularly to those in Denmark and Sweden, in order to involve as many as possible in the programme.

"As a result, 1000 persons have subscribed for a total of 230,234 shares. The majority are employed in our Norwegian operations, but 21 per cent of the subscriptions came from our Danish and Swedish employees," says President and CEO Terje R. Venold.

"Employee co-ownership is an important part of Veidekke's corporate culture and we want as many as possible to share in the Group's value creation. We are therefore very pleased that many of them have subscribed for shares again this year, particularly in view of the high price. This has also given us 243 new shareholders," he added.

After this year's sale of shares, about 1990 employees have a 14.3 per cent ownership share in the Group.

Contact persons:

Jørgen G. Michelet, Director Finance and Investor Relations,

tel. +47 21 05 77 22, mobile +47 917 43 856

Kai Krüger Henriksen, Senior Vice President Communication,

mobile +47 905 19 360