NEAS SIGNS AGREEMENT WITH THE MUNICIPALITY OF OSLO E-By

Lysaker, Norway, Dec 5, 2007 - (Hugin via ABN Newswire) - (Lysaker, 5 December 2007): The Facility Management company NEAS has signed an operational service agreement with the Agency for Real Estate and Urban Renewal in the municipality of Oslo. The agreement has a total value of approximately NOK 12 million.

It is NEAS' services department, which is organized under the business unit "Operations", that has entered into this agreement regarding operational services to the agency for Real Estate and Urban Renewal in the municipality of Oslo. The four year agreement has an annual value of approximately NOK 3 million and will be effective immediately.

"Through this agreement, NEAS will strengthen its solid relation with the municipality of Oslo. This confirms our view that the public sector will contribute positively to the growth in the Facility Management market", says CEO Tor Rønhovde.

The agreement involves janitor services, snow shovel and other services for operations and maintenance of a large number of municipal facilities and properties.

For more information, please contact: Tor Rønhovde, Chief Executive Officer, tel. 6740 1000 Bjørn Forwald, NEAS Operations, tel. 6740 1000

or: http://www.neas.no

About NEAS ASA The NEAS organization embraces more than 320 employees in two business areas - consulting and operations. This company is the leading Norwegian specialist in facility management. With its head office at Lysaker outside Oslo, the company has branches in Bergen, Trondheim, Stavanger, Kristiansand, Sarpsborg, Gjøvik and the Grenland region as well as at Luleå in northern Sweden. NEAS had a 2006 turnover of roughly NOK 260 million.

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NEAS ASA

http://www.neas.no/

ISIN: NO0010355621

Stock Identifier: OSE.NEAS