Scandinavian Property Development ASA (OSL:SPD) Invitation To Presentation And Webcast Of Q2 2008

Scandinavian Property Development ASA (OSL:SPD) Scandinavian Property Development ASA (SPDE) will present the financial results for the second quarter of 2008 on Thursday August 21st at 08:30.

The presentation will be held in Oslo at Thon Hotel Vika Atrium, Munkedamsveien 45. We invite investors, analysts and media to attend the presentation.

Location: Thon Hotel Vika Atrium, Munkedamsveien 45, Oslo, Norway - meeting room "Nyland" Date: August 21, 2008 Time: 08:30

Webcast: The presentation will be broadcast live on www.spde.no, www.oslobors.no/webcast and via HegnarTV on www.hegnar.no

For further information, please contact:

Stein Haugbro (CEO), +47 950 26 210 Are Njåstein (CFO), +47 982 39 003

Scandinavian Property Development ASA

http://www.scandinavianpropertydevelopment.no

ISIN: NO0010354269

Stock Identifier: XOSL.SPDE