Selvaag Bolig ASA

Selvaag Bolig ASA: Rolf Thorsen becomes new CEO of Selvaag Bolig ASA

The board of directors of Selvaag Bolig ASA has appointed Rolf Thorsen as the

new CEO of the company.

"Selvaag Bolig has made continuous progress with good results since listing in

June 2012, and has established itself as a trendsetting housing and urban

developer in Norway", says chair Gisele Marchand.

"Great interest has been shown in the CEO job, and we have found the candidate

we want after a detailed identification and recruitment process.Thorsen is a

respected and visionary leader who has long and broad experience of property

development and large urban development projects. We're confident he is the

right person to lead and continue developing the company."

The new CEO has led Oslo S Utvikling, which is developing the capital's Bjørvika

district, since 2014. He worked in 1985-2014 for the NCC group, including as

chief executive of NCC Property Development in 2007-14. Thorsen also holds 10

world championship and Olympics medals from his sporting career as a rower.

"This was an offer I couldn't refuse. Selvaag Bolig is a leading housing and

urban development company with conscious drive, a fantastic growth history, and

a portfolio containing some of Norway's most interesting projects," he says.

"The company is in a unique position to make further progress, and it's an

honour to be trusted to lead the company towards new milestones."

Thorsen will take office when his present post as CEO of Oslo S Utvikling ends.

Olav H Selvaag will continue to act as CEO until that time, which will be by 1

May 2019 at the latest.

Further information from

Gisele Marchand, chair, Selvaag Bolig ASA

Telephone: +47 415 17 489, e-mail: [email protected]

Olav H Selvaag, CEO, Selvaag Bolig ASA

Telephone: +47 901 67 388, e-mail: [email protected]

Kristoffer Gregersen, vice president communication and marketing, Selvaag Bolig

ASA

Telephone: +47 957 75 593, e-mail: [email protected]

Selvaag Bolig ASA is a residential property developer controlling the entire

value chain from acquisition of land to sale of homes. The company has several

thousand homes under development at any given time, and focuses on the growth

areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig

represents a continuation of Selvaag's 70-year history and experience, and

offers a broad variety of property types marketed under the brand names Start,

Hjem and Pluss. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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