Selvaag Bolig ASA

Earnings Release • Oct 3, 2016

Selvaag Bolig ASA - good sales and more homes under construction

Selvaag Bolig ASA - good sales and more homes under construction

Selvaag Bolig sold 277 homes with a total value of NOK 1.13 billion during the

third quarter of 2016. The company had 1 464 units under construction at 30

September.

"Our products are well received by the market, and due to substantial sales we

have initiated the construction of 223 homes," comments CEO Baard Schumann.

"We take a positive view of future market developments, and are offering new

residential properties for sale as quickly as we can. Demand in Greater Oslo is

particularly high because of urbanisation and insufficient housing construction.

The market in the Stavanger area is showing signs of improvement. We think this

trend will continue."

The average price per home for the quarter was NOK 4.1 million, compared with

NOK 3.6 million in the corresponding period of last year.

Construction starts totalled 223 units during the quarter, 103 homes were

completed, and 129 were delivered to the buyer. Selvaag Bolig had 1 464 homes

under construction at 30 September, while 48 completed units remained to be

sold.

Gross sales during the quarter, including joint venture projects, came to 298

homes.

The company sold 883 residential units with an overall value of NOK 3.6 billion

during the first nine months of the year. It started the building of 706 homes

during this period, completed 581 and delivered 615. Gross sales for January-

September came to 1 000 homes.

During the third quarter of 2015, Selvaag Bolig sold 208 homes with an overall

value of NOK 750 million.

Further information from:

Baard Schumann, CEO, Selvaag Bolig ASA

Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no

Sverre Molvik, CFO, Selvaag Bolig ASA

Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

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 60-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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.