Norwegian Property ASA has entered into an agreement for the sale of Kolstadgata 1 at Tøyen, Oslo. The property has neither any tenant nor rental income and is on leasehold. The property value is NOK 32 million, which is NOK 3.3 million below the current valuation. As a result of the sale the area vacancy of the company will be reduced by approximately 1 percentage point. The buyer is Enata Eiendom AS.

Kolstadgata 1 is outside the strategic focus area of Norwegian Property and the property has not had rental income for more than a year. The sale is in line with Norwegian Property’s strategy to actively develop the portfolio.

The transaction is estimated to be completed during October 2011.

For further information, please contact:

Svein Hov Skjelle, CFO, telephone +47 930 555 66

Elise Heidenreich-Andersen, SVP Investor Relations, telephone +47 951 41 147

www.norwegianproperty.no

www.npro.no