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Veidekke ASA: Has won NOK 1 billion contract for Thon in Oslo

Veidekke Entreprenør is to build a major project totalling 60,000 m2in size at
Storo in Oslo, which includes a hotel, a large cineplex, retail premises, 149
apartments and a day care centre. The contract for Thon Storo ANS is a
turnkey contract valued at NOK 1 billion excluding VAT.

"We are very satisfied with winning this contract in tough competition, and
would like to thank Olav Thon for the confidence he has shown in us by
awarding us this important contract. Veidekke has enjoyed close collaboration
with Olav Thon Gruppen on a number of projects, and we're looking forward to
starting construction at Storo. This is a large and important project, where
we, in cooperation with all parties, will ensure close involvement and an
optimum building process," says CEO and President Arne Giske of Veidekke.

The contract includes construction of a 325-room hotel, a 14 screen cineplex,
two 12-storey residential blocks with 149 apartments, a day care centre,
around 6,000 m2of retail premises, 3,000 m2of office space, a restaurant
pavilion and a parking facility and extensive outdoor facilities. The project
will be located next to Storo Storsenter, which is also owned by Thon Storo

The project will have pile foundations directly on bedrock. The load bearing
system will consist of prefabricated concrete elements and steel. The
external walls will mainly be brick, with glass, metal and wood details.

The principal has already started demolition work, groundwork is scheduled to
commence in April, and the entire project is expected to be completed in the
first quarter of 2019. The contract is included in Veidekke's order backlog
for Q1 2016.

For more information about the

For press photos, seewww.flickr.com/photos/veidekke,for more information,
Project supervisor Sjur M. Krog Martinsen with Olav Thon Gruppen, tel. +47 23
08 00 00,sjur.martinsen@olavthon.no

Project Manager Odd Arne Lian with Veidekke, tel. +47 41 66 05

Communications Manager Helge Dieset of Veidekke, tel. +47 90 55 33

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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 billion (2014), 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 Storo Oslo


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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