Entra Eiendom: Press release fourth quarter 2013: Portfolio adjustments and increased rental income

(Oslo, 21 February 2014) In the fourth quarter of 2013 rental income increased
to NOK 393.7 million against NOK 376.8 million in the same period in 2012. The
result from property operations was NOK 253.5 million against NOK 263.4 million
in the fourth quarter of 2012. For 2013 as a whole rental income totaled NOK
1 543.9 million (NOK 1 500.3 million) and the result from property operations
was NOK 1 107.0 million (NOK 1 067.8 million).

"We are pleased with the increase in rental income of 2.9% last year. 2013 has
been marked by restructuring, a new organisational model and preparations for
privatisation, which have affected the cost level for the year. During 2013
Entra worked actively on portfolio management with divestment of non-strategic
properties and strengthening of the company's position in core areas. The year's
most important transaction was the purchase of 50% of Hinna Park in Stavanger
and we look forward to further developing this exciting area in the coming
years. We have a positive view for 2014 and expect growth in rental income
combined with more normalised cost levels," comments Klaus-Anders Nysteen, Chief
Executive.

Entra has a negative value change of NOK -115.6 million (NOK 223.7 million) in
the fourth quarter. The value change mainly relates to certain properties with
an increased maintenance requirement and uncertainty regarding the extension of
individual leases.

Net realised financial items amounted to NOK -137.0 million (NOK -176.8 million)
and the net unrealised value change on financial instruments was NOK 10.0
million (NOK -99.6 million). The group's average interest rate was further
reduced during the quarter, mainly as a result of expiration of interest hedging
instruments. The profit before tax was NOK 228.2 million (NOK 290.2 million).
The result for the period after tax was NOK 294.4 million (NOK 226.6 million).
For the year as a whole the result after tax was NOK 470.0 million (NOK 737.8
million).

During the fourth quarter Entra signed new and renegotiated leases with an
annual rental income of NOK 37 million (17 509 m²) of which the largest was a
renegotiated lease for 3 724 m² at Prinsensgate 1 in Trondheim and a
renegotiated lease for 3 718 m² at Langkaia 1 in Oslo.

Entra's business strategy has three pillars: profitable growth, environmental
leadership and customer satisfaction. The company will focus its growth on
office property in the four biggest cities in Norway, Oslo, Bergen Trondheim and
Stavanger.

In December Entra signed an agreement to buy 50% of Hinna Park Eiendom AS in
Stavanger, which consists of three fully let office buildings totaling 28 000
m², zoned land with the potential to develop a further 46 000 m² of office
buildings, as well as a letting, development and management organisation. The
transaction was based on gross property values of approximately NOK 1.3 billion.
In addition five smaller non-strategic properties were sold for a total of NOK
255 million during the quarter.

Figures from the Norwegian Tenant Satisfaction Index show that in 2013 Entra
achieved an aggregate customer satisfaction rating of 72, against 71 in 2012 and
an industry average of 69. In the fourth quarter at Fredrik Selmers vei 4 in
Oslo Entra opened the first refurbished commercial building in Norway that has
achieved passive building standard and satisfies energy class A as well as being
approved as BREEAM Very Good.

For further information, please contact
Klaus-Anders Nysteen, CEO. Mob. + 47 992 65 691, Mail: kan@entra.no
Arve Regland, CFO. Mob. +47 479 07 700 Mail: ar@entra.no

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.



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