ANNOUNCEMENTS

NPRO - Approval from the Norwegian Competiton Authority

Reference is made to the Voluntary Offer Document dated 29 August 2007 (the `Offer Document`) in respect  of Norwegian Property ASA`s offer to acquire all outstanding shares in Norgani Hotels ASA (the `Offer`). The completion of the Offer is inter alia conditional upon Norwegian Property ASA obtaining approval from the Norwegian Competition Authority, ref. Section 3.6 (ii) of the Offer Document.
 
The Norwegian Competition Authority has now confirmed that it has approved the completion of the Offer. The condition relating to public approvals is therefore fulfilled.
 
Further information is available from:
Petter Jansen, president and CEO, Norwegian Property ASA, tel: +47 90 09 87 28
Dag Fladby, CIO, Norwegian Property ASA, tel: +47 90 89 19 35