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

 

NPRO hereby extends the offer period until 14 September 2007, 09:00 CET.

 

Norwegian Property ASA has as per today received 24.124.087 pre-acceptances under the offer which represent 61 per cent of the shares in Norgani Hotels ASA.  The shareholders bound by the pre-acceptance agreement will be obliged to accept the voluntary offer of NPRO if NPRO chooses to match or make a more favourable than a competing offer during the acceptance period.  NPRO will make a decision on whether to make changes to the existing offer within expiry of the extended offer period.

 

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