Betonmast, an AF Gruppen subsidiary, has entered into a contract with Midtbyen
Pale AS for the construction of a combined apartment and commercial property in
Brumunddal.  Midtbyen Pale AS is owned by the professional rental and management
company Høyen Eiendom AS. The contract, which is a turnkey contract, has a value
of approximately NOK 176 million, excluding VAT.

The project involves the construction of the Midtbyen Pale development in the
centre of Brumunddal and will comprise bed and breakfast accommodation,
apartments for young people, the elderly and families, as well as for adults
with disabilities. Midtbyen Pale will also have 24-hour resource center for
residents and structures for restaurants, conference halls and bowling. The
contract is subject to written approvals.

"It's great to see that there is activity within commercial property development
even during these challenging times and I am extremely pleased that we have
managed to land this crucial contract in Innlandet," says Jørgen Evensen, CEO of
Betonmast. 

For further information:
Jørgen Evensen, CEO of Betonmast, tel.: +47 906 09 310 
Bård Frydenlund, EVP Sweden and Betonmast for AF Gruppen, tel.: +47 918 68 621

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