Reference is made to the press release dated 11 July 2008. The allocation from the rights issue closed on 10 July at 16:30 has been resolved in a meeting held on 16 July 2008 by the Board of Directors of NPRO.

 

After close of the subscription period a total of 24,594,588 shares to NOK 26 per share has been registered and allocated. The Rights Offering was fully underwritten by a guarantee consortium. The remaining 71,559,258 shares have been allocated to the guarantee consortium, according to the allocation procedure set out in the prospectus dated 25 June 2008.

 

Notice of allocation and payment instructions will be sent out on or about Thursday 17 July 2008.

Payment will be on Monday 21 July 2008. The new shares will be registered after the rights issue has been fully paid and registered with the Norwegian Register of Business enterprises. Such registration is expected on or about 29 July 2008.

 

The company's share capital will increase following the registration with NOK 2,403,846,150 to NOK 5,040,885,400 corresponding to 201,635,416 shares in the company.

 

 

The rights issue is managed by Pareto Securities AS and SEB Enskilda AS.

 

 

For more information, please contact

Svein Hov Skjelle, CFO, Norwegian Property ASA,

Tel. +47 901 80 060