Selvaag Bolig - Completion of sale of office building at Kaldnes

As described in the fourth quarter 2011 report Selvaag Bolig signed an agreement
to sell an office building at Kaldnes in Tønsberg in February 2012.

The building was delivered 2 July 2012 and the sale will therefore be reported
in the third quarter 2012, not the first half year 2012 as previously announced.

The building has an area of 2,587 sqm and an annual rent of NOK 5,368 million.
The building was sold to two Nordic property funds for a consideration of NOK
77 million and will give a contribution margin of approximately NOK 11 million
in the third quarter.

For further information, please contact:
Baard Schumann, CEO, Selvaag Bolig ASA
Mobile: +47 940 80 000, e-mail: bas@selvaagbolig.no

Haavard Rønning, CFO, Selvaag Bolig ASA
Mobile: +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.



For further information, please contact:
Baard Schumann, CEO, Selvaag Bolig ASA
Mobile: +47 940 80 000, e-mail: bas@selvaagbolig.no


Haavard Rønning, CFO, Selvaag Bolig ASA
Mobile: +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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