Pioneer Property Group ASA

Share Issue/Capital Change • May 28, 2015

Private placement of 900,000 new ordinary shares

Private placement of 900,000 new ordinary shares

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO

U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE

UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN, OR ANY

OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE

WOULD BE UNLAWFUL.

The board of directors of Pioneer Property Group ASA has

resolved to increase the company's share capital with NOK

900,000 by issuance of 900,000 new ordinary shares at a

subscription price of NOK 100, raising gross proceeds for

the company of NOK 90,000,000. The shares have been

subscribed by the existing shareholders of ordinary shares

on a pro-rata basis - thus maintaining the same ownership

percentages. The share issue was resolved pursuant to an

authorisation to the board granted by the general meeting on

12 May 2015. The share issue has been conducted to

strengthen the company's equity and cash reserves in advance

of the intended public offering and listing on Oslo Axess as

further described in the press release from the Company on

20 May 2015.

Enquiries:

Martin P. Hoff

CFO

+47 47214721

martin@pioneerproperty.no