The development includes an extension of the existing shopping centre by approximately 10,000 sq.m. and construction of 65 flats on the roof of the shopping centre.

This project has been under development for several years since we won a bidding competition in cooperation with Skanska Norge AS in 2003. The construction work will start immediately, and will be carried out as a joint venture (50/50) with Skanska Norge.

The shopping centre is scheduled for completion in November 2008, and the flats will be completed in the first quarter of 2009

For further information, please contact:

Project Director Tore Rosenvinge Nygaard, Aberdeen Property Investors AS

Tel. +47 22 01 27 00/ 916 41260

E-mail: tore.nygaard@aberdeenpropertyinvestors.com

District Manager Rolf C. Andersen, Veidekke Entreprenør AS

Tel. + 47. 33 30 79 63/ 906 68576

E-mail: rolf-christian.andersen@veidekke.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.