Entra

Delisting Announcement • Sep 17, 2014

Entra Eiendom: Entra prepares for listing on Oslo Stock Exchange

Entra Eiendom: Entra prepares for listing on Oslo Stock Exchange

The Norwegian Ministry of Trade, Industry and Fisheries intends to launch an

initial public offering of Entra and to apply for a listing on the Oslo Stock

Exchange. Entra is one of Norway's leading property companies.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE

PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN

WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE

APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

The Norwegian Ministry of Trade, Industry and Fisheries ("NMTIF") hereby

announces the intention to launch an initial public offering ("IPO") of Entra

Holding AS ("Entra") and to apply for a listing on the Oslo Stock Exchange. The

company is to be renamed Entra ASA. The exact timing of the proposed IPO remains

subject to receiving the relevant approvals from Oslo Stock Exchange as well as

prevailing market conditions.

"Entra is a one of Norway's leading and largest real estate companies, and is

operating on a commercial basis in full competition with other real estate

companies in a well-functioning market. I support a diverse ownership of

businesses and the Government will strengthen private ownership. There are no

specific reasons why the state must own Entra, therefore I would like to reduce

the state's ownership," says Monica Mæland, Minister of Trade, Industry and

Fisheries.

The proposed IPO is expected to consist of both an issue of new ordinary shares

for repayment of certain of Entra's then outstanding interest-bearing

instruments, as well as a sale of existing ordinary shares held by NMTIF. The

targeted loan-to-value after completion of the transaction is approximately 50

percent (56 percent per second quarter 2014). The size of the sale of existing

ordinary shares from the Government will be determined at the time of the IPO.

"The IPO marks the start of a new and exciting chapter for Entra, which will lay

a good foundation for further advancement of Entra's position as a leading

Norwegian office real estate company. The company is well prepared and the

listing will help strengthen the company's capabilities to execute its strategy,

which in turn will create value for its shareholders. We look forward to

welcoming new shareholders," says Siri Hatlen, chair of the board of Entra.

"We will continue to build on our platform as one of Norway's leading real

estate companies and the largest in terms of office space. Our aim to provide

modern, flexible and environmentally efficient buildings to our customers

remains unaffected. High perceived customer satisfaction is one of Entra's key

competitive advantages. Through a hands-on and responsible approach, we work

every day to ensure that our customers are satisfied," says Klaus-Anders

Nysteen, CEO of Entra.

Further announcements relating to the proposed IPO will be made in due course.

ABG Sundal Collier, Goldman Sachs International and Swedbank have been appointed

as Joint Global Coordinators and Bookrunners. Danske Bank, Handelsbanken Capital

Markets and Kempen & Co have been retained as Co-Lead Managers.

DNB Markets is acting as financial advisor for the NMTIF.

About Entra

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

Entra owns and manages approximately 1.3 million square meters, divided among

107 buildings, primarily located in Oslo and the surrounding region, Bergen,

Stavanger and Trondheim. As of 30 June 2014, the market value of the property

portfolio was approximately NOK 27 billion and the 12 months rolling rent was

approximately NOK 1.7 billion. Entra is owned by the Norwegian state through the

NMTIF.

For further communications, please contact:

For Mæland: Ragnhild H. Simenstad, Communications Adviser, Ministry of Trade,

Industry and

Fisheries, mob. +47 917 17 459, mail: rsi@nfd.dep.no.

For Nysteen: Ina Helen Østby, Communications Adviser, Entra, mob.

+47 481 54 148, mail: ios@entra.no.

IMPORTANT INFORMATION

United States

These materials may not be published, distributed or transmitted in the United

States, Canada, Australia the Hong Kong Special Administrative Region of the

People's Republic of China, South Africa or Japan. These materials do not

constitute an offer of securities for sale or a solicitation of an offer to

purchase securities (the "Shares") of Entra Holding AS (to be renamed Entra ASA)

(the "Company") in the United States, Norway or any other jurisdiction. The

Shares of the Company may not be offered or sold in the United States absent

registration or an exemption from registration under the U.S. Securities Act of

1933, as amended (the "Securities Act"). The Shares of the Company have not

been, and will not be, registered under the Securities Act. Any sale in the

United States of the securities mentioned in this communication will be made

solely to "qualified institutional buyers" as defined in Rule 144A under the

Securities Act.

European Economic Area

Any offering of securities will be made by means of a prospectus to be published

that may be obtained from the issuer or selling security holder, once published,

and that will contain detailed information about the Company and its management,

as well as financial statements.

These materials are an advertisement and not a prospectus for the purposes of

Directive 2003/71/EC, as amended (together with any applicable implementing

measures in any Member State, the "Prospectus Directive"). Investors should not

subscribe for any securities referred to in these materials except on the basis

of information contained in the prospectus.

In any EEA Member State other than Norway (from the time the prospectus has been

approved by the Financial Supervisory Authority of Norway, in its capacity as

the competent authority in Norway, and published in accordance with the

Prospectus Directive as implemented in Norway) that has implemented the

Prospectus Directive, this communication is only addressed to and is only

directed at "qualified investors" in that Member State within the meaning of

Article 2(1)(e) of the Prospectus Directive ("Qualified Investors"), i.e., only

to investors to whom an offer of securities may be made without the requirement

for the Company to publish a prospectus pursuant to Article 3 of the Prospectus

Directive in such EEA Member State.

United Kingdom

In the United Kingdom, these materials are only being distributed to and are

only directed at Qualified Investors who (i) are investment professionals

falling within Article 19(5) of the Financial Services and Markets Act 2000

(Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons

falling within Article 49(2)(a) to (d) of the Order (high net worth companies,

unincorporated associations, etc.) (all such persons together being referred to

as "Relevant Persons"). These materials are directed only at Relevant Persons

and must not be acted on or relied on by persons who are not Relevant Persons.

Any investment or investment activity to which this document relates is

available only to Relevant Persons and will be engaged in only with Relevant

Persons.

Not for distribution in or into the United States, Canada, Australia, the Hong

Kong Special Administrative Region of the People's Republic of China, South

Africa or Japan.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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