The existing school building, which is to be renovated, has a net area of approximately 4,200 m2 and the new wing will provide an additional 1,100 m2 or so. The contract also includes development of outdoor areas totalling approximately 16,500 m2.

The construction work has started and is scheduled for completion by school start in autumn 2008.

For further information, please contact:

Project manager Geir Morten Viken, Seby AS, mobile +47 918 30 470

Managing director Per Inge Linnerud, Seby AS, mobile + 47 908 44 688

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 14 % 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.