This sale will give Veidekke a gain of approximately NOK 200 million. The effect to liquidity will be approximately NOK 200 million. Veidekke will moreover invest an amount equivalent to approximately NOK 65 million in the company. Providing that financing is obtained, the sales gain will be booked in the 2nd half of the year.

The size of the property in Lørenskog is 136,700 m2. The development plan, which was approved in 2005, allows for development of approximately 115,000 m2 of housing and an area of 58,000 m2 for offices and commercial purposes.

The first dwellings on the area were completed in June 2006, and so far, 300 units have been sold. These are either completed or under construction.

SEB Enskilda and DTZ Realkapital have been the sellers' advisors in the sales process.

For further information, please contact:

Leif E. Johansen, Executive Vice President, Veidekke, tel. + 47 21 05 75 54 or + 47 91 55 13 81, leif.johansen@veidekke.no

Arne Giske, Executive Vice President, CFO, Veidekke, tel. + 47 21 05 77 80 or + 47 90 58 95 26

arne.giske@veidekke.no

Kai Krüger Henriksen, Executive Vice President, Communication, Veidekke,

tel. + 47 21 05 77 04 or + 47 90 51 93 60, kai.henriksen@veidekke.no

 

Anders Endreson, Managing Director, Pareto Private Equity ASA, phone + 47 22 01 58 01/ + 4793 03 88 00, anders.endreson@pareto.no

 

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 15 % 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.

E-mail: firmapost@veidekke.no - Internet: http://www.veidekke.no