Court Ruling

RNS Number:5294R
Kvaerner ASA
26 September 2000


Norwegian Court rules in favour of Kvaerner following Bergesen 'right to vote'
challenge

LONDON, 26 SEPTEMBER 2000: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that the Asker and Baerum Probate Court in
Norway has ruled in favour of Kvaerner, following the challenge by Bergesen
d.y. ASA that they were entitled to vote at Kvaerner's Extraordinary General
Meeting in Oslo on Friday 29 September.  Bergesen had  petitioned the Court to
force Kvaerner's Chairman, Christian Bjelland, to step down from his role at
the opening of the meeting on Friday.  This challenge was denied by the Court.

In its judgement today the Court said that Bergesen cannot be regarded as a
shareholder according to the Norwegian Public Companies Act, as the company
has entered into an agreement to sell all its shares in Kvaerner ASA on a
forward contract, with delivery no later than 12 October 2000.  The Court
ruled that Bergesen therefore must be denied its right to exercise shareholder
rights and is not entitled to request that the Probate Court can appoint the
person opening the Extraordinary General Meeting.

The decision of the Court cannot be appealed. 


For further information:

Paul Emberley, Vice President, Group Communications, Kvaerner PLC: or +44
(0)20 7339 1035 or +44 (0)7768 813090

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