ANNOUNCEMENTS

NPRO; Petter Jansen has announced that he wants to resign from his position as CEO of Norwegian Property

CEO Petter Jansen in Norwegian Property ASA has informed the Board of Directors that he wants to resign from his position as CEO of the company. Jansen has led the company since the summer of 2006. He has agreed to stay in the position until a new leader is in place.
 
"As agreed with the Chairman at the time, Knut Brundtland, I have had a horizon of three years in this job. Now, I have been here for three years, where my primary task has been to build a new public-listed property company. It has been a demanding task, and three exciting years. The company is now moving into a new phase, and I find the time is right to deliver the baton to a new leader who can develop the company further, "says Petter Jansen.
 
"Norwegian Property has developed a portfolio of superior properties and solid tenants. The company's operations are very good and generate a strong cash flow. In fact the operation has never been better than now, but we have, like most property companies, noticed the consequences of the international financial crisis. However, there is no doubt that Norwegian Property is well positioned as the business cycle again will improve, "says Petter Jansen.
 
"I'm sorry that Petter Jansen has chosen to terminate his position as CEO of Norwegian Property. I want to thank Jansen for the important job he has done to build up the Nordic regions largest listed property company, and I am glad that he has agreed to stand in the position until a new CEO joins. I want to emphasize that under Jansen's management, it is established an efficient and highly competent organization with good relations to both tenants, banking and the owners", says the Chairman of the Board of Norwegian Property,  Tormod Hermansen.
 
For further information:
Tormod Hermansen, Chairman of the board of Norwegian Property ASA, tel +47 91 70 52 20
Petter Jansen, CEO of Norwegian Property ASA, tel +47 90 09 87 28