Selvaag Bolig ASA

Selvaag Bolig ASA: Proposed amended terms of bond loan

Selvaag Bolig ASA (the "Company") is proposing to make certain amendments in its

NOK 500 million Senior Unsecured Bond Issue 2013/2018 with ISIN NO 001 068372.5

(the "Bond Issue"). The proposed amendments relate to the sales ratio covenant,

and will increase the Selvaag Bolig group's operational flexibility and enable

the group to further increase the profitability in its projects.

The completion of the amendments to the Bond Issue is subject to approval of a

bondholders' meeting, summoned to be held on 21 November 2014. The Company has

received undertakings from the largest holders of the bonds in the Bond Issue to

vote in favour of the proposed amendments at the bondholders' meeting.

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.

http://www.selvaagboligasa.no/en

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1869616]

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