Selvaag Bolig ASA

Selvaag Bolig ASA: Homes worth more than NOK 3 billion sold in 2014

Selvaag Bolig ASA sold 233 homes with a combined value of NOK 795 million in the

fourth quarter of 2014. This represented an increase of 172 from the same period

of the year before. The company sold a total of 886 homes during 2014, with a

combined sales value of NOK 3 049 million.

"Housing sales increased throughout 2014, and were very good in the third and

fourth quarters," says CEO Baard Schumann.

"Even though the market was quiet at the beginning of the year, we sold 866

homes during these 12 months. That represents an increase of 146 from 2013, and

we are very optimistic about 2015. Great demand for new housing exists in

Norway's biggest cities, and we have good projects in the right places."

Selvaag Bolig sold 233 homes during the quarter, and started construction on

280. A total of 319 units were completed, and 266 were delivered to the buyer.

Forty-two sold homes which were completed during the quarter and should have

been delivered in December have had delivery postponed until the first half of

2015. However, a number of houses were delivered with very good results during

the quarter. This means that the postponement will have small impact on results

given the number of deliveries forecasted and the anticipated profit margin.

At 31 December, the company had 1 308 homes under construction and 39 unsold

units which had been completed. Selvaag Bolig sold a total of 886 homes during

2014, with a combined sales value of NOK 3 049 million, and started the

construction of 757.

The company sold 61 homes with a combined value of NOK 246 million during the

fourth quarter of 2013, and 740 with a combined sales value of NOK 2.5 billion

for the full year. It had 1 474 homes under construction at 31 December 2013.

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 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.

[HUG#1884082]

AI Terminal