Entra

M&A Activity • Jan 22, 2015

Entra ASA: Sale of portfolio of six properties in Østfold and Lillestrøm

Entra ASA: Sale of portfolio of six properties in Østfold and Lillestrøm

Entra ASA ("Entra") has entered into an agreement with Hemfosa Fastigheter AB

regarding sale of a portfolio of six properties. Total property value is NOK

1.375 bn, which is about 17 % above book values per 30.09.14.

The transaction is in line with Entra's strategy of divestment of non-core

assets and will involve a significant cash consideration providing Entra with

further financial flexibility. The liquidity reserves will enable well timed

investments in properties/projects where Entra see significant value potential.

"By completing this transaction we have come a long way in delivering on our

non-core assets divestment strategy. Entra is an active portfolio manager and we

take advantage of the competitive transaction market we see at the moment. We

can now focus our efforts around our strategy of further growth within the four

largest cities in Norway" says Klaus-Anders Nysteen, CEO of Entra ASA.

The transaction

The transaction is structured as a sale of the following property owning

companies (properties) against cash payment:

Property: Location: No of sqm:

-------------------------------------------------------------------------------

Kunnskapsveien 55 AS (Kunnskapsveien 55) Kjeller / Lillestrøm 27,135

Jonas Lies gate 20 AS (Jonas Lies gate 20-28) Lillestrøm 12,660

Vogtsgate 17 AS (Vogtsgate 17) Moss 9,582

Prins Chr. Augustspl AS  (Prins Chr. Augustspl Moss  5,041

3-7)

Gunnar Nielsens gate 25 AS (Gunnar Nielsens Fredrikstad 4,370

gate 25)

Brochsgt 3 AS (Brochsgt 3) Fredrikstad 4,130

Total   62,918

-------------------------------------------------------------------------------

All the properties involved are located in the Greater Oslo region. As of

30.09.14 the transaction would have impacted Entra's management portfolio in the

following manner:

Reported as of 30.09 Pro forma post sale

------------------------------------------------------------------------------

Area (sqm): 1,072,980 1,010,062

Occupancy (%): 94.1 93.8

WAULT (yrs) 7.7 7.6

12 months rolling rent (NOKm): 1,778 1,675

Net yield (%): 6.4 6.3

------------------------------------------------------------------------------

Key figures

Key figures for the property portfolio in total are listed below:

(NOK million) 2011 2012 2013

-------------------------------------------------------

Total income 99.4 99.3 100.9

Direct property costs 9.4 9.7 6.8

Net operating income 90.0 90.0 94.1

Book value as of 31.12 1,257.6 1,244.6 1,163.2

Tax value as of 31.12 547.6 534.7 524.5

-------------------------------------------------------

Closing and settlement is expected to take place latest 27 February 2015.

Closing of the transaction is subject to the buyer obtaining satisfactory

financing.

This notice is prepared and published in accordance with the Continuing

Obligations for companies listed on Oslo Børs.

For further queries, please contact:

Arve Regland, CFO

Entra ASA

Tel: +47 479 07 700

Email: arve.regland@entra.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1888720]