NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER  JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE.

Oslo, 23 May 2011: IT Fornebu Properties ASA (the "Company" - OSE: IPROP) announces that the board of directors of the Company has decided to withdraw the offering.
The Company has during the road show both internationally and in Norway received positive response and high interest, including from many of the world's largest real estate specialist investors. It was however not possible to complete the offering within the set indicative price range of NOK 14.40 - NOK 16.30 per share. The board of directors received indications of significant demand below the indicative price range. However the board of directors and the selling shareholders concluded after due consideration that reducing the price range...