Veidekke Entreprenør AS has been commissioned by the Norwegian National Rail Administration to carry out excavation and concreting work for the railway line between Lurahammeren and Jåttåvågen. The contract price is NOK 158 million, excl. VAT.

This is part of the development of a new double-track line between Sandnes and Stavanger.

The work involves excavation, construction of Gausel station, a number of subways and supporting walls, as well as a new roundabout on Rv 44 and various road alterations.

Work will commence immediately and will be completed in October 2008. The contract will employ about twenty of Veidekke's own workforce in addition to a number of local subcontactors.

For further information, please contact:

Department Manager Jarle Røe, Veidekke Entreprenør AS, Special Projects, tel. 21057489

jarle.roe@veidekke.no

Construction Manager Ole Konttorp, Norwegian National Rail Administration, tel. 05280

ole.kontorp@jbv.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 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.