NCC receives contract for construction of large residential area in Rostock, Germany, for about SEK 400 million

11/22/2001 6:21 AM EST

NCC receives contract for construction of large residential area in
Rostock, Germany, worth about SEK 400 million

NCC Germany has received a large new order to build a residential area
in Rostock, located directly at the Baltic seaside. Investor is ODIN
Group. The total volume of the project Am Tonnenhof, being built in
several sections, will be about SEK 400 million (DEM 85 million).

The project Am Tonnenhof consists of about 700 units in multi-family
homes with almost 50.000 sqm of living space. Commercial space of about
1.100 sqm and underground garages will also be part of the construction
works, starting in March 2002. The project is supposed to be completed
by the end of 2004.

The project is situated in one of Rostock´s favourite living areas with
sailing and other recreational facilities, and will be characterized by
a maritime architectural design of a very high standard .

The investor, the ODIN Group (with norwegian roots, owned by Per Harald
Lökkevik), has already been a cooperation partner for NCC in a large
housing project in Mahlow, close to the Berlin city limits (more than
520 units in multifamily homes plus a 4 star turn-key hotel with 170
rooms).

-We are very glad to have received this new order from Per Harald
Lökkevik. In addition to this, we have signed a contract for a series of
further projects in the Rostock area. Tonnenhof ist just the first one
in this series. We will start developing the next project together with
ODIN at the beginning of January 2002. This is another positive result
of our strategy to establish and extend good relations with our regular
customers, says Ingvar Lundström, business area manager of NCC Germany.

For further information please contact:
Olle Boback, Managing director NCC Germany, tel +49 3361 670 433
Ingvar Lundström, Business area manager NCC Germany, tel +49 3361 670
455
Gisela Lindstrand, Press Relation Manager NCC AB tel +46 8 585 52346
or +46 70 392 9500

All of NCC's press releases are available on www.ncc.se