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2016-01-22

Veidekke ASA: To rehabilitate the Bryn tunnel Oslo

Today Veidekke Entreprenør has signed a contract with the NPRA to completely
rehabilitate the 300 metre long Bryn tunnel in eastern Oslo. This contract is
valued at NOK 167 million, excluding VAT.

The Bryn tunnel opened in 1970 and is a two-bore tunnel on E6/Ring 3 at Bryn
in Oslo. The contract involves completely replacing the road surfacing,
blasting for a new water treatment plant, a new cross cut and improving
visibility. Further, the electrical and signal system will be completely
replaced and upgraded. The tunnel will also be provided with new water and
frost protection, and work will also be carried out in the open air zones
north and south of the tunnel.

Work will be carried out with one bore closed at a time, while the tunnel
remains open for two-way traffic in the opposite direction. Closure will
cause significant traffic problems in the area. The NPRA has thus emphasized
that work must be completed as fast as possible, and this may entail noise
from works beyond regular working hours.

Construction work starts in the latter half of February 2016, and completion
is scheduled before May 2017.

For more information about the project please
visit:www.vegvesen.no/tunneleroslo

For press photos, seewww.flickr.com/photos/veidekke,for more information,
contact:

Construction Manager NPRA Bjørn Øystein Kroken, tel. +47 47 27 22
68,bjorn.kroken@vegvesen.no

Project Manager Veidekke Knut Marius Torjuul, tel. +47 91 54 19
80,knut.marius.torjuul@veidekke.no

Communictions Manager Helge Dieset, 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, crushed stone and gravel.
The company is characterised by involvement and local knowledge. Revenue is
almost 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 photo Tunnel
http://hugin.info/172/R/1980712/725636.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

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