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2016-02-16

Veidekke ASA: To build comprehensive school at Jessheim

Veidekke has won the competition to build Gystadmarka comprehensive school at
Jessheim. The value of the contract is NOK 230 million excluding VAT.
"We're pleased to have won this school project in a good and exciting PPP
competition for Ullensaker municipality,
"says Birte Almeland with Veidekke Entreprenør.

PPP project

The project will be implemented in accordance with the PPP model
(public-private partnership), which entails that Veidekke both develops,
plans, builds and operates the school. Veidekke has also been responsible for
funding the project. Ullensaker municipality will lease the school for 25
years, and during the term of the lease Veidekke will be responsible for
operation and maintenance through a separate operation contract. After the
first five years, parts of the operation contract will be renegotiated.

Veidekke is currently developing two corresponding PPP projects; Rykkinn
school for Bærum municipality and Jessheim upper secondary school for
Akershus County Municipality. "There are good synergies in having several PPP
schools at the same time, and we're looking forward to being responsible for
operating two large school buildings at Jessheim as far into the future as
2043. We would also like to thank all of our partners who participated in the
competition stage, which has been ongoing since June 2015," Almeland
concludes.

School with stadium stand

The new comprehensive school will be built for 750 students and 30 classes.
The building totals 9,215 m2(gross area) in size on four floors. The building
is located next to the UKI Arena football stadium, and the project includes a
stand at one of the ends of the football pitch with 1,000 seats and a service
building linked to the football pitch. Building work is scheduled to start in
the spring of 2016 and is due for completion at the start of school in winter
2018. It will be a modern and functional comprehensive school for the new
district emerging at Gystadmarka.

Caption (left to right): District Manager Hans Olav Sørlie and PPP Manager
Birte Almeland from Veidekke, chief administrative officer Tor Arne Gangsø of
Ullensaker municipality and assistant CFO Christopher M. Bjerke of Veidekke
are looking forward to a long-term school partnership.

For more information, contact:
PPP Manager and head of department Birte Almeland, tel. +47 95 07 70
31,birte.almeland@veidekke.no

Project Manager Jørn Aaltvedt, tel. +47 41 66 05 45,jorn.aaltvedt@veidekke.no

Communications Manager Helge Dieset, tel. 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 building and construction
contracts, maintains roads and produces asphalt and aggregates. The company's
operations are characterised by involvement and local knowledge. Revenue is
NOK 24.5 billion (2015), and half of the 7,000 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 photo PPP school
http://hugin.info/172/R/1986464/728818.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#1986464

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