Veidekke Entreprenør has signed a contract with Undervisningsbygg Oslo KF to
build the new Munkerud School at Nordstrand in Oslo. The value of the contract
is NOK 224 million excluding VAT.

This is a turnkey contract of approximately 7,500 m(2) gross area, involving the
building of a new primary school for 840 pupils and 120 employees, plus a
physical education building partly below ground level. A beautiful open-air
space will be created around the school building and the access roads will be
upgraded.

"We are very pleased to have been given this assignment and look forward to
building yet another modern, energy-friendly school to passive building
standards," says District Manager Hans Olav Sørlie of Veidekke.

"I am very happy that this contract is now in place. We work well together with
Veidekke on the building of the passive building school at Bjørnsletta, and now
we are looking forward to continuing this trend at Munkerud," says Nina Rønning,
Project Manager at Undervisningsbygg.

The school building will be divided into three main sections. The main building
for the infants will hold first to fourth year classes, with workplaces for
teachers, an assembly room and special rooms. The middle building will hold the
fifth to seventh year juniors. The school buildings will be connected to the
physical education facility by stairs, lifts and bridges.

Building work starts in autumn 2014 and is due for completion in time for the
start of the school year in autumn 2016.

Caption: District Manager Hans Olav Sørlie of Veidekke (left) and Managing
Director Rigmor Hansen of Undervisningsbygg Oslo KF.

For further information please contact Veidekke Entreprenør:
Department Manager Erik Økland, tel +47 21 05 50 00 / +47 950 51 365,
erik.okland@veidekke.no
Communications Manager Helge Dieset, tel. +47 21 05 77 91 / +47 90 55 33 22,
helge.dieset@veidekke.no

Veidekke is one of Scandinavia's leading contractors and property developers
with a turnover of NOK 20 billion (2012) and 6,300 employees. Activities include
building and construction projects, residential developments, asphalt plants,
gravel and crushed stone and road services. Our values are professional, honest,
enthusiastic and ground-breaking. Our goals for health, safety and the
environment, HSE, have equal status with our financial goals. Veidekke is
characterised by a strong corporate culture with employee involvement and co-
ownership as important cornerstones. More than half of the employees are co-
owners, holding around 20 per cent of the Group's shares between them. The
company is listed on the Oslo Stock Exchange and has always posted a profit
since it was founded in 1936.

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

[HUG#1750905]

Veidekke ASA : Veidekke to build new Munkerud School in Oslo