Company overview of Romania Invest AS

The company invested through 2007 and 2008 in 706 apartments spread over seven different real estate projects, located in and around Bucharest center. The company is fully invested and will start selling on plan apartments in Q1 2009.

• Romania Invest AS is a Norwegian incorporated company
• The shareholders in Romania Invest AS are both institutional and private investors
• The company’s main strategy is to invest in the real estate market in Bucharest, Romania
• The Board of Directors of Romania Invest AS consists of several high profile business leaders in Norway. Some of them have years of experience investing in Eastern Europe, like Poland and the countries in the Baltic area

Organization

Board of Directors

Chairman:

Rolf Hansteen
CEO ICA Real Estate Norway AS (2003 – present)
ICA Real Estate is a company with assets of NOK 4 bn. managing more than 1.000.000 m2
Vice President Real Estate in the Aspelin-Ramm Group AS (1995 – 2003)
Responsible for regulation, development and sale of the NEBB-area in Oslo on behalf of DnB (later sold to Orkla). This is one of the most successful ”new” town areas developed in Oslo in modern times (1992 – 1995)
Project leader / chief technical for Aker Brygge, Oslo (Aker Real Estate AS). This is the largest ”Fishermans Warf” project in Norway built on the previous site of Aker Yards (1988 –1992)

Boardmembers:

Ivar Tollefsen
One of the largest private investors in real estate for housing (apartments) in Norway and Sweden
Owns 2.300 apartments in Norway, 3.500 in Sweden

Hans Gulseth
Private business in Real Estate and Property (1995 - present)
Storebrand Property - Director (1991 - 1995)
Nilsen-Nilsen Entreprenørforretning (now NCC Property) - Project Manager (1986 - 1991)
Berntsen & Boe Entreprenørforretning (now part of Veidekke) - Project manager (1982 - 1986)
Ragnar Evensen AS - Project Manager (1973 - 1982)

Pål Hansen
CEO of Fri Eiendom AS (2001 - present)
- Housing and commercial property development in Oslo area and Sweden
- Overall development about 800 housing units.
Project Director Skanska AS (1999-2001)
Marketing Director Lundenes AS (1991-1999)
Various positions in banking and financing, including Finax AS, Sunnmørsbanken and Oslo Banken (1982 - 1991)
Owns no shares in the company

Bjørn Erling Husa
2003 - FinansRingen AS, CEO / owner (2003 - present)
2000 - 03 NetFinans AS dep. Sandefjord, CEO / co-owner
1997 - 99 Forsikrings Consult AS, Sales Manager / co-owner
1995 - 97 Pedersen Assuranse AS, Insurance Advisor

Management in Norway:

Knut Johannessen , Managing Director
Executive Vice President Orkla Foods CEE
(International) (1999 – present)
Responsible for Orkla’s activities of building a
leading position in Romania for consumer labels with 400 employees.
Total 17 years in Orkla ASA group, positions: Sales and Marketing Director in Stabburet AS
(1990-1996)
Vice President in ABBA Seafood, Sverige (1996-1998)
CEO in Felix Austria (Orkla) in Austria (1998-1999)
Orkla is one of the lagest company in Norway