Selvaag Bolig ASA: Baard Schumann steps down as CEO of Selvaag Bolig ASA

At the initiative of the company's board of directors, Baard Schumann has
stepped down as CEO of Selvaag Bolig ASA with immediate effect.

Chair Olav H Selvaag will take over as acting CEO until further notice. He is
therefore standing down from the board of directors, where Gisele Marchand will
serve as acting chair.

The parties have agreed not to make any comment on the departure beyond this
announcement.
Selvaag Bolig ASA is a residential property developer controlling the entire
value chain from acquisition of land to sale of homes. The company has several
thousand homes under development at any given time, and focuses on the growth
areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. The company
is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/english


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