ANNOUNCEMENTS

NPRO - sale of non-core asset

Norwegian Property has entered into an agreement for the sale of Magnus Poulssonsvei 7 at Lysaker. The gross property value is NOK 124,85 million. The buyer is a consortium lead by Pareto Private Equity. The sale is in line with Norwegian Property's strategy to actively develop the portfolio and dispose non-core properties. The property value is in line with the valuation as of 31 March 2008. The transaction will release approximately NOK 22 million in postive cashflow.
  
The transaction will be completed on 30 April 2008.
 
For further information, contact;
Dag Fladby, Chief Investment Officer +47 9089 1935