Entra

Earnings Release • May 7, 2015

Entra ASA: Solid net letting and increased property values in Q1 2015

Entra ASA: Solid net letting and increased property values in Q1 2015

Oslo 7 May 2015 - Entra ASA today announced rental income of NOK 440 million in

Q1 2015 up from NOK 433 million in the same quarter last year. Net income from

property management increased to NOK 360 million compared with NOK 343 million

in Q1 2014. Profit before tax was NOK 1,016 million up from NOK 91 million in Q1

2014, while total comprehensive income was NOK 948 million compared with NOK 70

million in Q1 last year.

"We are satisfied with net letting of 21,500 sqm in the quarter, following new

and renegotiated leases of 28,700 sqm and terminations of 7,200 sqm. These

results emphasise Entra's competitiveness in the current letting market", says

Entra's Chief Executive Arve Regland.

"We are also pleased to see our property values increasing by NOK 716 million

resulting from positive letting activities, transaction value gains and yield

compression on our central Oslo assets", he adds.

Year-on-year rental growth is driven by an underlying like-for-like rental

growth of 1.7% and completion of two development projects in 2015, but is offset

by the divestment of 10 non-core properties in Q4 2014 and Q1 2015. Improved

operating margin is mainly driven by reduced admin costs.

Entra has finalised the renovation/extension project at Langkaia 1 in Oslo and

the residential/commercial project at Ringstabekk in Bærum in the quarter. Two

new renovation projects at Helsfyr in Oslo are being prepared and are scheduled

for start up in the second quarter this year.

Entra signed new and renegotiated leases with an annual rent totalling NOK 60

million in the quarter and received notices of termination on leases with an

annual rent of NOK 15 million. Increased rent on the renegotiated contracts was

on average 1.8%.

Q1-15 Q1-14 2014

Rental income (NOKm) 440 433 1 772

Net income from property management (NOKm) 360 343 1 399

Total comprehensive income for the period/year (NOKm) 948 70 1 000

Earnings per share (NOK) 5.1   5.6

Cash earnings per share (NOK) 1.1   4.1

Net asset value  - EPRA NAV per share (NOK) 81.4   76.4

Entra ASA will present its financial and operating results today at 08:30 CET in

Biskop Gunnerus' gate 14 in Oslo. A live webcast of the presentation as well as

full interim quarterly report is available on the company website www.entra.no

--- Entra is a leading owner, manager and developer of office properties in

Norway. Entra owns and manages 99 buildings totalling approximately 1.2 million

square meters, primarily located in Oslo and the surrounding region, Bergen,

Stavanger and Trondheim. The market value of the property portfolio is

approximately NOK 28 billion.---

Oslo, 6 May 2015

Entra ASA

Corporate Communication

For more information:

Financial market: Head of Investor Relations Tone Omsted, ph.: 982 28 510, mail:

tom@entra.no

Media: EVP Communication Tom Bratlie, ph.: 905 21 904, mail: tbr@entra.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1919586]