Norwegian Property ASA (NPRO) refers to the voluntary offer to purchase all outstanding shares in Norgani Hotels ASA and the offer document dated 29 August 2007.

 

Norwegian Property hereby announces that it has resolved not to amend or extend the voluntary offer to the shareholders of Norgani Hotels. Shareholders of Norgani Hotels ASA with pre-acceptance agreements will no longer be bound by the agreement.

 

Earlier announced issues related to the bid of Norgani Hotels ASA will lapse.

 

"We considered the possibility of an increased offer, however after thorough consideration by our board, we decided not to proceed further with that option," says Petter Jansen, CEO of Norwegian Property.

 

For further information please contact: Norwegian Property ASA

 

CEO,  Petter Jansen Telefon 90 09 87 28

Chief Investment Officer, Dag Fladby Telefon 90 89 19 35