RNS Number:6622L
Kvaerner ASA
16 October 2001

Election of new Board to be put to Kvaerner Extraordinary General Meeting

LONDON, 16 OCTOBER 2001: The Board of Kvaerner ASA, the Anglo-Norwegian
engineering and construction Group, today announced that it has agreed to
place the election of a new Board of Directors on the agenda for its
Extraordinary General Meeting to be held on 2 November 2001.

The Board previously announced on 19 September 2001 that it had asked the
Nomination Committee, appointed by shareholders, to consider changes to the
Board and to present a proposal to an Extraordinary General Meeting. 
Additionally, Yukos Oil, which recently acquired approximately 10 per cent of
the Kvaerner shares, today requested the Company to place the election of a
new Board on the agenda for the forthcoming EGM. 


For further information:  Paul Emberley, Vice President Group Communications,
Kvaerner PLC, Tel: +44 (0)20 7339 1035 or paul.emberley@kvaerner.com
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