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Veidekke ASA: To build new headquarters and apartments at Skøyen

Veidekke has entered into a contract with Norwegian Property (NPRO) to buy
Nedre Skøyenvei 24-26 in Oslo, with takeover in March 2019. Veidekke wants to
develop the site to build new headquarters for the Group and build several
hundred homes.

"Veidekke has long been on the lookout for a project to develop at Skøyen for
new headquarters. This property is perfectly suited to developing modern
headquarters, and we can also develop and build more than 400 homes in an
extremely attractive area. Here we can exploit our expertise both as a
construction and property development company, and we also envision
contributing to developing Skøyen as a future-oriented city district," says
CEO and President Arne Giske.

Nedre Skøyenvei 24-26 is centrally located at Skøyen, one of Norway's largest
and fastest-growing traffic hubs. The site is 22,600 m2in size, and is
currently developed for commercial purposes. NPRO will own and manage the
existing buildings until takeover in March 2019.

The purchase price is NOK 799 million, of which NOK 749 million is due upon
takeover and NOK 50 million is due on entry into contract.

For more information, please contact:
Managing Director of Veidekke Eiendom, Emil Paaske, tel. +47 958 19

SVP Finance Jørgen Michelet, tel +47 917 43 856,jorgen.michelet@veidekke.no

SVP Communications Grete Nykkelmo, tel +47 913 11

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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
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.

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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


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