Norwegian Property : NPRO - Completed bond issue in Norwegian Property

Norwegian Property ASA has today completed the placement of a new 2nd priority
pledged bond issue of NOK 235 million with maturity in March 2012, which will be
used in connection with the refinancing of the outstanding 2nd priority bond
NPRO03 with expiry in March 2010.


The margin of the new bond is 2.75% above NIBOR and Loan to Value (LTV) of the
1st and 2nd priority bonds together is within 80% of the external valuations as
of 31 December 2009. Taking into account the two outstanding 1st priority bonds
with security pledge in the same four properties, the average loan margin of
this bond portfolio is 0.82%.


DnBNOR Markets and Nordea Markets have been acting as joint arrangers.


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



For further information, please contact:


Svein Hov Skjelle, CFO, telephone [phone]

Sigmund Sletvold, Director Transactions, telephone [phone]


www.norwegianproperty.no <http://www.norwegianproperty.no/>

www.npro.no <http://www.npro.no/>


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


[HUG#1378795]