Oslo East - From Working Class Area to Young and Trendy

The divide between Oslo east and Oslo west is no longer as distinct as it used to be. Both income and prices on housing in Oslo east has increased a lot in recent years, but it is still here you can find the city’s cheapest restaurants and bars. In Oslo east you find areas like Sagene, Bjølsen, Torshov, Grünerløkka, Grønland and Gamlebyen.

In the north eastern part of inner city you find the neighbourhoods Sagene, Bjølsen and Torshov. Behind the historical industrial buildings along the Akerselva River, cosy cafés and great recreational areas appear. Along the Akerselva River you can see the remains of Oslo east’s industrial history.

Moving down along the river to Grünerløkka, you can blend in with the young and trendy crowd flocking to the area’s small cafés, restaurants and parks. Grünerløkka is also a great place to find your favourite shop with offers ranging from original design to cool second hand clothes.

South east of Grünerløkka you find Grønland – an area in rapid development where you can meet all kinds of people from every corner of the world. You can easily forget that you are in a Nordic country. At Grønland you can choose between traditional neighbourhood cafés and super trendy bars, there are many cheap places to eat there and store with an exotic selection you cannot find anywhere else in the city.

Remains of medieval Oslo are found in Gamlebyen, in the form of ruins, building parts and cultural layers. Middelalderparken (the medieval park) is a popular park amongst the local residents, and during the annual Øya Rock Festival in August, the park is filled by music lovers from everywhere.

Contract signed for new stores in Norrköping (Sweden) and Oslo (Norway)

Clas Ohlson has signed contracts concerning additional stores in Sweden and Norway.

The new store in Sweden will be located in the Hageby shopping centre located in Norrköping. The store is expected to open in October/November 2009 and will have a retail space of 950 square meters. The Shopping Centre has a total of 100 stores and a catchment area of approximately 125 000 inhabitants.

The new store in Norway will be located in the Lambertseter Centre south of Oslo. The store is expected to open during the fall of 2010 and will have a retail space of 650 square meters. The shopping Centre has 70 stores and a catchment area of approximately 80.000 inhabitants.

Accordingly, the scheduled future opening of stores for which contracts have been concluded to date is as follows: Manchester in the UK in April 2009, Nordby/Strömstad and Helsingborg in Sweden in June 2009, Frölunda in Sweden, Molde and Steinkjer in Norway October 2009, Hageby (Norrköping) in Sweden in October/November 2009, Bryne in Norway in November 2009, Värnamo and Södertälje in Sweden during the fall of 2009, Lillehammer in Norway between autumn 2009 and spring 2010, Norrtälje in Sweden during the spring of 2010 and Lambertseter (Oslo) during the fall of 2010. Clas Ohlson will open 20 new stores during the 2008/2009 financial year of which 2 in the UK. During the 2009/2010 financial year, Clas Ohlson´s objective is to open 15-20 stores of which 4-8 in the UK. Including the company’s current 105 stores and the 13 stores under contract, Clas Ohlson will have a total of 118 stores, with 57 of them in Sweden, 43 in Norway, 16 in Finland and 2 in the UK.

For further information, please contact: [] Ola Aurtande, MD of Clas Ohlson Norway; +47 911 21 895 [] Bo Heyman, Director of Establishment, +46 (0)70 - 597 44 90 [] John Womack, Director of Information and Investor Relations; +46 70 678 24 99