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2015-08-27

Veidekke ASA: To build 127 homes at Løren in Oslo

Veidekke Entreprenør has signed a contract with Lørenvangen Utvikling AS,
which is jointly owned by OBOS Nye Hjem and Veidekke Eiendom, to build the
third and fourth stages of the Gartnerløkka development. The two stages
comprise 127 homes and a parking cellar. The total sales value of the homes
is NOK 491 million.

Sales have been very good at Gartnerløkka. This first two stages are almost
sold out, and the first residents move in before the summer of 2016. When
completed, Gartnerløkka will comprise a total of 244 homes in five blocks of
flats built in four stages. The total sales value of the homes in the whole
project is around NOK 1 billion.

The five blocks of flats will surround a large, sunny courtyard nearly 5,000
square metres in size, with bushes, trees and fruit trees. There is a broad
selection of 2, 3, and 4 room flats, where the flats on the ground floor have
their own private garden plot. Additionally, a day-care centre will be built
on the ground and first floors of building four, where children living in
Gartnerløkka will be given priority.

Veidekke is cooperating with the Norwegian Asthma and Allergy Association on
building homes with a good and healthy indoor climate. By making conscious
choices and with well thought through solutions and materials, Veidekke is
creating healthy homes.

The good sales rate at Gartnerløkka has caused Lørenvangen Utvikling to
expedite planning of the next housing project at Løren comprising around 650
flats. The framework application for the project will in all likelihood be
submitted in the autumn with sales starting this winter.

More information on Gartnerløkka at Løren is available
here:www.gartnerlokkabolig.no

For more information, please contact:
Project Manager Magnus Hellerud Rongved of Veidekke Eiendom, tel +47 95 25 17
65,magnus.rongved@veidekke.no

Project manager Anders W. Haugen of Veidekke Entreprenør, tel.: +47 97 66 63
14,anders.haugen@veidekke.no

Communications Manager Helge Dieset, Veidekke ASA, tel. +47 90 55 33
22,helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development
companies. The company undertakes all types of construction and civil
engineering contracts, maintains roads, and produces asphalt and aggregates.
The company is characterised by involvement and local knowledge. Revenue 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.

Press illustration
http://hugin.info/172/R/1947728/707282.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Veidekke ASA via Globenewswire

HUG#1947728

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