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2016-11-03

Veidekke ASA: To build by Tullinløkka for Entra

Entra ASA has awarded Veidekke Entreprenør the contract to build a new
university building for the Faculty of Law in the centre of Oslo. This is a
turnkey contract valued at NOK 528 million, excluding VAT.

The new university building will bring together much of the University of
Oslo's Faculty of Law. The project will be almost 22,000 m2in size over 10
storeys above ground plus a basement, and will facilitate a future-oriented
learning environment with a suitable, flexible buildings.

"We have worked on developing the project in collaboration with Entra for the
last couple of years, and are now looking forward to proceed with the good
cooperation in the construction stage. Developing and building good premises
for knowledge and education is one of the most important things a contractor
can do, so we are very pleased that Entra has shown confidence in us and look
forward to starting work," says CEO and President Arne Giske of Veidekke.

"Veidekke and Entra have worked well together during the planning of this
important project and I am really looking forward to cooperate further during
the realisation of the project. The development plan is now in its final
stages of political consideration in Oslo municipality and we expect that the
plan will be approved before Christmas, says director project and technical
in Entra, Kristin Hauglund.

Through the project Entra wants to vitalize and upgrade the area around
Tullinløkka by supplementing new activities to ensure a vibrant quarter with
new users, street life and better communication with the rest of the city.
Education, knowledge and culture with associated invigorating city activities
at street level will breath new life into this part of the city centre.

Building is planned to start after the turn of the year, and the building is
scheduled for completion in the autumn of 2019. For more information about
the project:https://www.entra.no/projects/kristian-augusts-gate-15-19-21/152

Caption: Entras CEO Arve Regland (left) and CEO and President Arne Giske of
Veidekke look forward to good cooperation on the new project in
Tullinkvartalet.

For press photos, seewww.flickr.com/photos/veidekke,for more information,
contact:
Head of department Odd Arne Lian, tel. +47 41 66 05
56,odd-arne.lian@veidekke.no

Communications Manager Helge Dieset of Veidekke ASA, tel. (+47) 905 53
322,helge.dieset@veidekke.no

Communications Director Tom Bratlie of Entra, tel. +47 90 52 19
04,tom.bratlie@entra.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.

Tullin deal pressphoto
http://hugin.info/172/R/2053854/768758.pdf
Tullin project illustration
http://hugin.info/172/R/2053854/768757.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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