Oslo 20 May 2008. The annual general meeting in Norwegian Property was held today. All proposals on the agenda were adopted according to the proposals from the Board of Directors and the Nomination Committee.

The Annual General Meeting approved the Board`s proposal for annual accounts and annual report for the financial year 2007, including a dividend of NOK 2.50 per share. The share will be traded ex dividend from 21 May 2008, and the dividend will be distributed on 10 June 2008.

 

The Annual General meeting adopted a resolution from the Board to give the Board authorisation to increase the share capital through issuance of new

shares (cash issues) with an aggregate nominal value of up to NOK 260,000,000. The authorisation shall apply until 30 June 2009.

 

The Annual General meeting adopted a resolution from the Board to give the Board authorisation to increase the share capital in connection with property transactions through issuance of new shares (contribution in kind or merger) with an aggregate nominal value of up to NOK 260,000,000. The authorisation shall apply until 30 June 2009.

 

The Annual General meeting adopted a resolution from the Board to give the Board authorisation to buy back own shares amounting to NOK 260,000,000. The authorisation shall apply until 30 June 2009.

 

Board members after the Annual General Meeting are:

 

 Widar Salbuvik, Chairman of the Board (new)

 Jostein Devold

 Torstein Tvenge

 Hege Bømark

 Anne Birgitte Fossum

 Thorild Widvey (new)

 

Members of the nomination committee are:

 

 Tom Furulund, Chairman (new)

 Lise Lindbäck (new)

 Egil K. Sundby

                 

 

For further information, contact:

Svein Hov Skjelle, CFO, mobile +47 930 55 566