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2016-04-07

Veidekke ASA: To build new Sjøholt school in Ørskog

Veidekke's subsidiary M. Kristiseter AS has signed a contract with Ørskog
municipality in Møre og Romsdal to build the new Sjøholt primary and lower
secondary school. This will be a turnkey contract valued at NOK 130 million,
excluding VAT.

The current school building will be demolished, and a new building will be
erected on the same site. The new school will be built as a so-called
two-parallel school for the 1st to 10th grades, with room for 450 pupils in
20 classes. The new building will 6,400 m2in size and will include premises
for adult education and the culture school in addition to the primary and
lower secondary school. Kristiseter will also develop new outdoor areas on
the school's 6.9 hectare site.

"Good school buildings are among the most important things we can build, and
we're very pleased to have won the competition for the contract and that the
municipality has confidence in us. We're a local contractor, and this
contract is important to our employees as well as suppliers and partners in
the region," says general manager Stig Mork with Entreprenør Kristiseter AS.

Demolition of the current building starts in the summer holidays, construction
work starts in August, and the new school will be ready for occupation in the
autumn of 2018.

For press photos, seewww.flickr.com/photos/veidekke,for more information,
contact:
General Manager Stig Mork of Kristiseter, tel. +47 90 54 26
26,stig@kristiseter.no

Communications Manager Helge Dieset with 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 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.

Illustration New Sjoeholt School
http://hugin.info/172/R/2001773/738611.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#2001773

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