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2016-01-25

Veidekke ASA: Major contract in Drammen

Veidekke Entreprenør has entered into a contract with Vestaksen Eiendom to
build Bragernes Kvartal in the centre of Drammen. The contract includes
erecting a six and seven storey building with 125 apartments and retail
premises at street level. The value of the contract is NOK 317 million
excluding VAT.

The Bragernes Kvartal project is 20,000 m2in size across six and seven
storeys. In all, there will be 125 apartments ranging in size from 40 to 130
m2, in addition to hobby rooms, a carpool, a ski waxing room, parking garage
and guest apartments. Additionally there will be a large Rema 1000 grocery
store on the ground floor. Sales in the first stage are well under way, and
next month sale of stage two will commence.

"This is the largest construction contract we have signed, and I'm convinced
that the new project will emerge as Drammen's best residential project when
the first stage is. In addition to 125 high-quality apartments, the block
will have two impressive entrances from Engene and Rådhusgata and a high
quality façade," says Project Manager Morten Hotvedt with Vestaksen Eiendom.

"We're pleased that Vestaksen Eiendom selected Veidekke to build the project.
Residential projects in city centres can be challenging, but we have
extensive experience with this and are looking forward to getting started.
Demolition work at the site started this January, and the project is
scheduled for completion in the autumn of 2018," says District Manager Sverre
Liavaag of Veidekke.

For more information about the
project:www.vestaksen.no/prosjekter/64-bragernes-hage

For press photos, see
www.flickr.com/photos/veidekke,
for more information, contact:
District Manager Sverre Liavaag, tel. +47 90 74 18
77,sverre.liavaag@veidekke.no

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

Project Manager Morten Hotvedt of Vestaksen Eiendom, tel. +47 458 66
666,morten@vestaksen.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, crushed stone and gravel.
The company is 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.

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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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