With reference to stock exchange announcement of 18 April 2011 regarding the establishment of new credit facilities for Norwegian Property ASA; the loan agreement has now been finalized in accordance with the terms previously communicated, and the conditions relating to the draw-down are fulfilled. As a result, Norwegian Property has today effectuated the first draw-down under the new credit facilities. Simultaneously, the previously syndicated facility maturing June 2012 has been cancelled and redeemed.

For additional information, please contact:

Svein Hov Skjelle, EVP & CFO, tel +47 930 55 566, shs@npro.no

Elise Heidenreich-Andersen, SVP IR, tel. +47 951 41 147, eha@npro.no