Gaustatunet consists of 46 flats located close to the Gaustablikk alpine centre. All the flats have been sold, and the foundation work will start shortly after Easter. This is a turnkey contract amounting to NOK 50 million excluding VAT. The work has been scheduled for completion in summer 2006.

The second contract is with a German company, Uhde, for the second phase of the new chlorine factory at Rafnes. Veidekke is in the process of completing Phase 1 of the factory and will start work on the new contract soon after Easter. This contract has a value of approximately NOK 60 million excluding VAT. The work will be carried out as a joint venture by Veidekke's Telemark operations and Vestfold operations.

"Counting the contract we signed last month with Steen & Strøm for the development of the Down Town shopping centre, we now have a record-high volume of orders-on-hand for our operations in Telemark. We are very pleased with this situation, as we now have work for most of our employees for a long time," says District Manager Trond Karlsen.

For more information please contact:

District Manager Trond Karlsen,

mobile phone + 47906 15 930 or trond.karlsen@veidekke.no

Project Manager Jørn Chramer,

mobile phone +47 911 82 028 or jorn.chramer@veidekke.no