DnB NOR to Bjørvika

DnB NOR has signed an agreement with Oslo S Utvikling (OSU) to lease a new head office which is to be built in Bjørvika in Oslo, in the so-called Barcode Row. The new head office will provide approximately 80 000 square metres of office space. "Our vision to be the most attractive financial services house in the Nordic region does not only refer to the building, but also to our entire organisation. Coordination, cooperation and the streamlining of operations will promote the development and modernisation of the entire organisation. By gathering our employees in Oslo in one office complex, we will reduce time and costs now spent on transport between the different units and achieve more effective service functions," says Rune Bjerke, group chief executive. DnB NOR's new head office will consist of three buildings totalling approximately 80 000 square metres. The agreement with OSU regards the leasing of the buildings and includes a future purchase option. "Bjørvika is a completely new, innovative part of Oslo, a result of ambitious city planning. This is the location of the recently opened new opera building, and we have all seen how people are flocking to Bjørvika. When Bjørvika is completed, the variety of activities will create a dynamic environment both day and night. In addition, Bjørvika is a very central location with respect to public transport," says Liv Fiksdahl, group executive vice president in DnB NOR. The new head office will house more than 4 000 employees who are now working in several different locations in Oslo. Centralising staff in one, new effective office complex will halve the bank's office space requirements in Oslo. The commencement of the project is scheduled for the first quarter of 2009, and the first building phase will be completed in 2012. "DnB NOR is a multifaceted financial services group, which will fit well into Oslo's urban landscape in the future Bjørvika. This new part of Oslo will have a good mix of commercial businesses, cultural instititutions and housing," says Paul E. Lødøen, managing director of OSU. Contact persons: DnB NOR ASA: Eivind Grønstad, senior vice president, mobile: (0047) 920 31 505 Liv Fiksdahl, group executive vice president, tel. (0047) 22 94 46 32 Oslo S Utvikling AS: Paul E. Lødøen, managing director, mobile: (0047) 911 25 760