Selvaag Bolig ASA

Selvaag Bolig ASA: Better sales of new homes in all markets

Selvaag Bolig sold 216 homes with a combined value of NOK 788 million in the

first quarter.

"It's gratifying to see that the market for new homes is recovering as we

expected. The shift has come even earlier than we thought," says CEO Baard

Schumann.

"Interest is substantially higher than in the second half of 2017, and sales in

February and March have been steady and good in all our projects. We occupy a

strong position in the markets where we're making a commitment, and we take a

positive view of future developments."

Construction started for 102 homes, 54 were completed and 59 were delivered to

their buyer. At 31 March, the company had 1 511 homes under construction and 19

completed units still unsold.

Adjusted for Selvaag Bolig's share of joint venture projects, sales in the first

quarter came to 185 homes with a value of NOK 693 million.

The company sold 190 homes with a combined value of NOK 984 million in the first

quarter of 2017. Gross sales for that period were 238 homes.

Further information from

Baard Schumann, CEO, Selvaag Bolig ASA

Telephone: +47 940 80 000, e-mail: [email protected]

Sverre Molvik, CFO, Selvaag Bolig ASA

Telephone: +47 401 00 585, e-mail: [email protected]

Selvaag Bolig ASA is a residential property developer controlling the entire

value chain from acquisition of land to sale of homes. The company has several

thousand homes under development at any given time, and focuses on the growth

areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig

represents a continuation of Selvaag's 70-year history and experience, and

offers a broad variety of property types marketed under the brand names Start,

Hjem and Pluss. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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