KMC Properties ASA

Share Issue/Capital Change • Jun 26, 2017

Storm Real Estate ASA - Preliminary result of the rights offering

Storm Real Estate ASA - Preliminary result of the rights offering

Oslo, 26 June 2017

Reference is made to previous stock exchange announcements made in

relation to the rights issue in Storm Real Estate ASA ("Company").

The subscription period in the rights issue expired today 26 June

2017 at 16:30 (Norwegian time).

A preliminary count shows that the Company has received

subscriptions for 110,514,535 new shares (of total offering of up to

70,000,000 shares) at a subscription price of NOK 0.40 per share in

the rights offering. This implies that the rights offering, based on

preliminary results, is significantly oversubscribed by

approximately 58%.

The final allocation is expected to be made on 27 June 2017.

Allocation will be made in accordance with the allocation criteria

included in the prospectus dated 9 June 2017. Final subscription

results will be announced by stock exchange announcement when made.

The same day, notices of allocation of new shares and the

corresponding subscription amount to be paid by each individual

subscriber will be distributed. Payment is due on 3 July 2017.

Arctic Securities AS is acting as settlement agent in connection

with the rights offering. Arntzen de Besche Advokatfirma DA is

acting as the Company's legal advisor in connection with the rights

offering.

This information is subject to disclosure pursuant to section 5-12

of the Securities Trading Act.

For further information, please contact:

Einar Pedersen, CFO

T: +44 (0) 20 7409 3369