Pioneer Property Group ASA

Delisting Announcement • May 20, 2015

Pioneer Property Group ASA applies for listing on Oslo Axess

Pioneer Property Group ASA applies for listing on Oslo Axess

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Pioneer Property Group ASA applies for listing on

Oslo Axess

Oslo, 20th May 2015

Pioneer Property Group ASA ("PPG") has applied for

listing of its preference shares on Oslo Axess. PPG

intends to launch a Public Offering in June and aims

for listing to take place by the end of June.

Pioneer Property Group ASA is a real estate company

which provides high-quality properties for government-

backed care-services. The company's current portfolio

consists of 113 Norwegian kindergartens centrally

located in larger cities and which house a total of

over eleven thousand children. The properties are

leased out on long-term triple-net contracts to solid

kindergarten operators, including Norlandia Care

Group and Espira. Total monthly rental income is

currently approx. NOK 17 million.

The company's property portfolio is a result of the

acquisition from several independent preschool

operators, again driven by these companies' wish to

free-up resources and capital to be able to provide

the highest quality possible in their primary focus

area - preschool operations. Pioneer Property's

kindergartens have during the later years played an

important role in the improvement of the Norwegian

preschool market, through improved capacity, quality

and cost-efficiency.

Going forward the company's strategy is to expand its

reach into care-services property with similar

characteristics as the Norwegian kindergarten market -

i.e. long term contracts with solid operators, again

backed by government financing - and access to the

financial markets to finance further growth is a key

component of this strategy.

Preference shares have during the past few years

become a popular investment category, particularly

with real-estate companies in Sweden, and PPG will be

the first listed preference share on the Norwegian

market within this category.

Enquiries

Runar Rønningen, CEO - +47 9069038

Martin P. Hoff, CFO - +47 47214721

www.pioneerproperty.no