Sale of Norgani Hotels finally completed

Donnerstag, 04.11.2010 13:15 von Hugin

On 21 October 2010 Norwegian Property announced that its subsidiary, Oslo
Properties AS, had executed an unconditional sales and purchase agreement for
the sale of its wholly owned subsidiary Norgani Hotels AS. The buyer is Sech
Holding AB, a company under joint ownership and control by Pandox AB and Heches
Holding AB, which is controlled by Eiendomsspar AS and the Sundt family.

Closing has now taken place, and thus the transaction is now finally completed.

For further information, please contact:
Norwegian Property ASA
CEO Olav Line +47 48 25 41 49 or
CFO Svein Hov Skjelle +47 93 05 55 66


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


[HUG#1459021]








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Source: Norwegian Property ASA via Thomson Reuters ONE