Borgestad ASA — Earnings Release 2009

Feb 26, 2010

Report for 4th Quarter and the year 2009

MAIN EVENTS 2009:

-Result after tax shows a profit of NOK 0,3 mill.

compared to a loss of NOK 86,1 mill., as of

December 31st 2008.

-Construction of the shopping centre in Bytom in

Poland and Grenland Arena AS in Skien are ongoing

and are developing according to plan.

-Public bond issue of NOK 60 mill.

-The Board of Directors proposes a dividend of NOK 5

per share compared to NOK 3 per share last year.

Enclosed please find the Q4 and the year 2009 report.

Contact:

- CEO Christen Knudsen mobile +47 911 90 534

- CFO Geir Vala mobile +47 971 79 871

This information is subject of the disclosure

requirements acc. to § 5-12 vphl (Norwegian

Securities Trading Act).