Veidekke — M&A Activity 2015

Feb 19, 2015

Veidekke ASA: Veidekke and Selvaag buys Sinsenveien 45-49 in Oslo

Veidekke ASA: Veidekke and Selvaag buys Sinsenveien 45-49 in Oslo

Veidekke and Selvaag Bolig have entered into an agreement to buy Sinsenveien

45-49 in Oslo. The plan is to rezone the site for housing purposes.

Sinsenveien 45-49 is at Løren in Oslo and comprises a site approximately 17,000

square metres in size, which currently comprises commercial buildings. The

buildings are currently partly leased and have been owned by a syndicate of 14

owners. Rezoning for housing purposes has already been initiated. Expected

takeover is Q1 2015.

"This property has great potential in an attractive area and is a good

supplement to Veidekke's housing portfolio in the Oslo area. We are also pleased

to develope the project in cooperation with Selvaag Bolig, who also has a strong

position in terms of developing the Løren area. We are now starting work on

developing the site for housing purposes with around 350-400 units," says

Managing Director of Veidekke Eiendom, Emil Paaske.

For more information, please contact:

Managing Director of Veidekke Eiendom, Emil Paaske, tel.

+47 958 19 170,Emil.Paaske@veidekke.no

Director of Business Development at Veidekke Eiendom, Audun Blegen, tel.

+47 959 79 664, audun.blegen@veidekke.no

Veidekke is one of Scandinavia's largest contractors and property developers.

The company undertakes all types of building and construction contracts,

maintains roads and produces asphalt, crushed stone and gravel. The company is

characterised by involvement and local knowledge. Turnover is almost NOK 24

billion (2014), and half of the 6,400 employees own shares in the company.

Veidekke is listed on the Oslo Stock Exchange and has always posted a profit

since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1895363]