During the third quarter 2011 Norwegian Property has entered into new or renewed lease contracts for a total area of about 35 000 m2. The majority of contracts entered into are related to leases which previously expired in 2012. With the new lease agreements, remaining lease maturities in 2012 for office areas are more than halved and total in excess of 25 000 m2 at present.

The largest contract renewal is made in Stavanger, where Norwegian Property has entered into an agreement with Statoil to extend the lease contract for Grenseveien 21. The lease is extended for the total area of the property until 30 June 2015 at existing terms without any investments from the lessor.   The total area of the property is 27 721 m2. The extension is based on the tenant’s option clause pursuant to the former lease contract and also implies that the tenant as from 1 July 2013 has the right to reduce the rented area either in part or completely.

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