Veidekke — M&A Activity 2010

Nov 25, 2010

Veidekke has acquired M. Kristiseter AS

Veidekke has signed an agreement regarding the acquisition of all the shares in

Entreprenør M. Kristiseter AS.

The companies issued a press release at the end of September reporting the plan

for Veidekke to take over Kristiseter. By combining Veidekke's expertise in

project development and turnkey contracts with Kristiseter's strong resources

for execution and local market position, Veidekke can develop into a total

cooperation partner for customers in North West Norway. Veidekke has now

concluded the due diligence process and no significant factors were detected.

The acquisition will be recorded on the accounts with effect from 1 December

Entreprenør M. Kristiseter AS is one of the largest contractors in the region of

Møre og Romsdal. The company reported turnover of NOK 200 million in 2009, with

a pre-tax result of NOK 15.6 million. A total of 80 employees work for the

company, which has its headquarters in Åndalsnes and a departmental office in

Ålesund.

For more detailed information, please contact:

CFO Jørgen G. Michelet, tel.:  + 47 21 05 77 22 /

91 74 38 56,jorgen.michelet@veidekke.no

CEO Terje R. Venold, tel.: + 47 21 05 77 01 /

905 82 323,terje.venold@veidekke.no

Director of Communications Kai Krüger Henriksen, tel.: + 47 21 05 77 04 /

90 51 93 60,kai.henriksen@veidekke.no

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1465694]