Notice of Annual General Meeting

The shareholders in Fornebu Utvikling ASA are invited to attend the Ordinary General Meeting to be held on Monday 31 May 2010 at 1300 at Radisson SAS Park Hotel, Fornebuveien 80, Lysaker, Norway.

Please find attached the notice of annual general meeting in Fornebu Utvikling ASA, remuneration guidelines from the Board and the proposal from the nomination committee.

The attachements will also be made available on the company's webpage,
www.fornebuutvikling.no <http://www.fornebuutvikling.no/>.

For more information, please contact:

Morten Grongstad (CEO), tel: +47 99 15 39 05

Inger Lise Egeland (CFO), tel: +47 94 87 69 45

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Nomination committee recommendations
Remuneration guidelines
Notice AGM