Selvaag Bolig ASA - Selvaag Bolig approved for listing on Oslo Børs

At its meeting on 23 May 2012, the Board of Directors of Oslo Børs resolved to
admit the shares in Selvaag  Bolig ASA to listing on Oslo Børs.

The Board stipulated that prior to the first day of listing the company must
satisfy the requirement for the number of shareholders as specified in Section
2.4.2 of the Listing Rules and publish an approved prospectus. In addition the
company must raise at least NOK 500 million of new capital through a planned
share issue prior to listing.

The Board authorized the Chief Executive Officer of Oslo Børs to fix the date of
the first day of  listing, which is to be no later than 6 July 2012.

For further information, please contact:

Baard Schumann, CEO Selvaag Bolig
Phone: +47 940 80 000, e-mail: bas@selvaagbolig.no

or

Haavard Rønning, CFO Selvaag Bolig
Phone: +47 400 20 019, e-mail: hroe@selvaagbolig.no

                                      ***
About Selvaag Bolig:
Selvaag  Bolig ASA  is a  residential developer  that provides different housing
concepts  to suit aspirations of different  households in and around main cities
in  Norway and over time in selected  cities in Scandinavia. The Company's prime
focus  is the  Greater Oslo  area, Stavanger,  Bergen and  Stockholm; areas with
large and growing populations. The Company acquires and develops new residential
land  plots, and controls  the entire value  chain from acquisition  of the land
plots  to the sale and delivery of  the residential units. The Company targets a
delivery  of 1,500 residential units per year, and has a land portfolio on which
it  can  develop  approximately  9,000 residential  units. Selvaag Bolig targets
broad  customer groups  through the  residential living  concepts Selvaag Start,
Selvaag Hjem and Selvaag Pluss. The Company is headquartered at Løren in Oslo.

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


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