Mr. Olav Line, who has been appointed as new CEO of Norwegian Property as from 1 January 2010, wishes to compose a new management team in the company. In relation to this, acting CEO and CFO Ms. Mari Thjømøe has decided to leave her position in the company.

 

Ms. Mari Thjømøe took up the position as CFO in Norwegian Property in January 2009, and has acted as the company’s CEO for the last three months. Chairman of the Board of Directors Mr. Tormod Hermansen has accepted Ms. Thjømøe’s request to leave with effect as from 31 December 2009.

 

”Ms. Thjømøe has been instrumental in the extensive work of refinancing and strengthening of the company’s financial position, efforts which have been significant for the positive share price development in 2009. The operations of the company are now running well, and the Board thanks Mari Thjømøe for her excellent contribution and wish her the best of luck in her future endaveours”, Mr. Hermansen comments.

 

For further information, please contact:

 

Chairman of the Board Mr. Tormod Hermansen

Telephone: +47 91 70 52 20

 

www.norwegianproperty.no

www.npro.com

 

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)