NCC to sell Oslo property for NOK 115 million

11/12/1998 8:27 AM EST

NCC's Norwegian subsidiary, NCC Eeg-Henriksen Eiendom, is selling the Grönvold
Gård office property in Oslo to the Vital insurance company for NOK 114.5
million. The transaction will generate a capital gain of NOK 12.5 million. The
takeover date is January 1, 1999.

Grönvold Gård, which was completed in 1997, comprises a total of 10,550 square
meters of floor space on a land area of approximately 5,880 square meters. The
property is fully occupied based on long leases of at least 10 years.

"The sale is fully in line with our strategy of selling fully developed
properties," says Stein Haugbro, President of NCC Eeg-Henriksen Eiendom. "The
transaction proves that our high-quality development projects satisfy the
market's criteria for a suitable investment object."

Grönvold Gård's location is attractive in relation to both central Oslo and
the new major airport, Gardermoen.

For further information, please contact:
Magnus Mannesson, President, NCC Real Estate