KMC Properties ASA

Storm Real Estate ASA - extension with anchor tenant

With reference to stock exchange notification dated 13 October 2016

where Storm Real Estate ASA received notice from LLC Gazprom

Tsentrremont, the anchor tenant in the Gasfield building since 2009,

to terminate the lease.

The tenant originally requested to vacate at the end of Q1 2017. The

company has today signed an extension with the tenants for a further

two months, until 31.05.2017 at a rent level which is somewhat

higher than implied in independent valuation as at 31.12.2016.

The company has a good interest from new potential tenants who

appreciate the building's location, standard and parking facilities.

The company will publish signing of new contracts if they are of a

material character.

For further information, please contact:

Einar Pedersen

Tel: +44 207 409 3369

Morten E. Astrup

Tel: +44 777 8888 0000

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