KVR Kvaerner Asa

RNS Number:3271L
Kvaerner ASA
9 October 2001



Extraordinary general meeting in Kvaerner ASA

LONDON, 9 OCTOBER 2001: At its meeting today, the board of directors of
Kvaerner considered the request from Aker Maritime that an extraordinary
general meeting be called to consider a motion concerning an investigation of
the company.

On that basis, the board intends to hold an extraordinary general meeting on 2
November this year.

The board will support the proposal for an investigation now that this has
been made, since it cannot see any reason for opposing a review of the way the
company's business has been conducted.

However, the timing of an investigation is very unfortunate. The company's
most important priority at present is to establish long-term bank financing
and achieve an expansion in its equity.

An inquiry at this time would complicate that process. The board will
accordingly propose to the general meeting that the investigation begins in
January 2002.

At the same time, the board believes an inquiry should not be confined to the
period after 1 July 1998. In order to understand the company's position and
both present and former dispositions, the board will accordingly propose to
the general meeting that the investigation should start from 1 July 1995.

The board will propose that the Norwegian probate court be requested to
appoint the members of a commission of inquiry.


Further information contact:
Senior Vice President Group Communications, Trond Andresen, tel: 07770 856550
or Vice President Marit Ytreeide

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