Skanska to construct new residential area in Oslo for SEK 430 M

Skanska to construct new residential area in Oslo for SEK 430 M

Skanska has received the first contract for expansion of the new Fornebu
residential area in Oslo. The contract amount is NOK 365 M, about SEK 430 M,
which is included in order bookings for the first quarter 2008. The customer is
the Fornebu Boligspar AS residential development company.

The project involves seven buildings with a total of 158 apartments. The four-
and five-story residential buildings form enclosed courtyards, with an
underground parking garage. The project comprises a total of 26,000 square
meters.

Work will begin at the site in March and the project is scheduled to be
completed in 2010. 

Skanska has a long-term cooperation agreement for the continued expansion of
housing on the closed Fornebu airport. Fully developed, the new housing area is
planned to comprise about 4,800 apartments. Skanska has also been involved in
the development process for Fornebu for a number of years.

Skanska Norway focuses on building construction and civil engineering. The unit
has about 4,300 employees. In 2006, Skanska Norway had sales of about SEK 10.6
billion. Skanska is also active in Norway in the development of residential
projects and Public Private Partnerships (PPP) projects.


For further information please contact:

Geir Linge, Head of Communications, Skanska Norway, tel +47 4000 6400
Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38. 
Direct line for media: tel +46 8 753 88 99


This and previous releases can also be found at www.skanska.com

Skanska AB may be required to disclose the information provided herein pursuant
to the Securities Markets Act.

Skanska is one of the world's leading construction groups with expertise in
construction, development of commercial and residential projects and
public-private partnerships. The Group currently has 56,000 employees in
selected home markets in Europe, in the US and Latin America. Headquartered in
Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in
2006 totaled SEK 126 billion.