ANNOUNCEMENTS

New board of directors at Norgani Hotels ASA

 (Oslo, 25. October, 2007) - A new board of directors of Norgani Hotels ASA has been elected following an extraordinary shareholders meeting in the company. The new board reflects the recent change in ownership in the company, and represents extensive experience and expertise from the travel industry, property- and hotel market, as well as from sales and marketing.
 
The new board of directors of Norgani Hotels comprises: Petter Jansen (Chairman), Hege Bømark, Simen A. Johannessen, Unni Åström and Anders Lilius.
 
"We are very pleased with the composition of the new board with members from Norway, Sweden, and Finland. Each board member represents valuable expertise relevant to the Nordic hotel property industry, and will be instrumental in the future development of Norgani Hotels," said Petter Jansen, newly elected chairman in Norgani Hotels ASA, and CEO of Norwegian Property.
 
The extraordinary shareholders meeting also approved an application to de-list the company's shares from trading on the Oslo Stock Exchange. Norgani Hotels ASA was recently acquired by Oslo Properties AS, in which Norwegian Property is a major shareholder.
 
For further information: Petter Jansen +47 90 09 87 28
 
­­­More information on members of board of directors:
 
Petter Jansen (Chairman) - CEO Norwegian Property
Jansen has considerable experience from banking as a former executive vice president of Den Norske Bank (DNB) and Postbanken. Jansen also has extensive travel industry experience as the former CEO of flight carrier SAS Braathens. Jansen is also Chairman of Tromsø 2018, Norway's official Winter Olympic bid.
 
Hege Bømark - MBA, Board member Norwegian Property
Bømark has been a member of the board of Norgani Hotels since 2005. She has previous experience as a financial analyst at Orkla Finans and Fearnley Finans, with particular focus on the real-estate sector. Bømark is also a member of the board of Norwegian Property and Block Watne.
 
Simen A. Johannessen - Director of Marketing and Supplier Relations, HRG Nordic
Johannessen has extensive experience from the travel industry, and has for the past 7 years worked at HRG Nordic, where he is now Nordic Director of Marketing and Supplier relations.
 
Unni Åström - Managing Director, Victoria Park
Åström has worked as head of Sales & Marketing in hotel chains, and Managing Director of Casino Cosmopol in Stockholm. She led passenger traffic for Silja Line for two years, before joining Victoria Park, a large real-estate development outside Malmø, this summer.  
 
Anders Lilius - Managing Director, Infront Sweden
Lilius has extensive hotel, and hotel property experience, as a former COO and Executive Vice President at Scandic Hotels, and consultant advising companies in the industry.  

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