Veidekke Entreprenør AS has been awarded the contract to build a hotel with 343
guest rooms for Wenaasgruppen AS at Alna in Oslo. The building will have floor
space of more than 18,000 square metres and will be carried out as a turnkey
project. The total value of the contract is NOK 291 million excluding VAT.
Wenaasgruppen has entered into an operating agreement for the new hotel with the
Rezidor Hotel Group, and it is their two chains Radisson Blu and Park Inn by
Radisson that will be co-located in the new building in Tevlingveien 21 at Alna
in Groruddalen.

The hotel will include a wing with 135 rooms for Radisson Blu and a wing with
208 rooms for Park Inn by Radisson. Beneath the two wings there will be a common
lobby area, a restaurant, bar, gym, parking and a conference section 1,200
square metres in size. The building will be constructed of in situ concrete with
façades of plaster and glass.

Building is planned to start in March 2012 with completion planned for second
half of 2013.

For more information please contact:
District Manager Hans Olav Sørlie, Veidekke Entreprenør AS, tel.
+47 21 05 50 00,hans-olav.sorlie@veidekke.no
Project Manager Heine Skogseid, Veidekke Entreprenør AS, tel.
+47 918 37 729,heine.skogseid@veidekke.no
Communications Manager Helge Dieset, tel. +47 21 05 77 91 /
+47 90 55 33 22,helge.dieset@veidekke.no
Project Manager Kjell Vidar Myran, Wenaas AS, tel +47 99 22 80 00,kvm@wg.no
Managing Director Lars Wenaas, Wenaas AS, tel +47 92 41 61 00,lw@wg.no

Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a
turnover of NOK 16.3 billion (2010). Activities include building and
construction projects, residential developments, asphalt plants, gravel and
aggregates, road maintenance and recycling. Our values are professional, honest,
enthusiastic and pioneering. Our goals for health, safety and the environment,
HSE, have equal status with our financial goals. Veidekke is characterized by a
decentralized organizational model with a strong corporate culture and a high
degree of employee involvement. Over half the employees are co-owners, holding
almost 20% of Veidekke's shares between them. The company is listed on the Oslo
Stock Exchange and has never declared a loss since it was founded in 1936.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

[HUG#1569499]

Veidekke to build major hotel at Alna in Oslo