Appointment

RNS Number:8218K
Kvaerner ASA
28 September 2001



Kvaerner appoints new acting CFO

LONDON, 28 SEPTEMBER 2001: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that it has appointed Finn Berg Jacobsen
as its new acting Chief Financial Officer.  He is replacing the current CFO,
John M Charlton, who has decided to resign for personal reasons.   Dr Charlton
will, for some time, continue to assist the Company on an advisory basis.
Finn Berg Jacobsen has a distinguished career in finance and audit.  He spent
more than thirty years with Arthur Andersen, the international auditing and
consulting firm, where he was made a partner in 1975.  He was appointed
Country Managing Partner for the firm in Norway in 1977, and later he expanded
his management responsibilities to include the whole of the Nordic region and
the Baltics.  In 1994 he was appointed a member of the Arthur Andersen
Worldwide Executive Committee.  He has been a member of the Board of the
Norwegian Financial Analysts Association and Chairman of the Norwegian
Financial Accounting Board.

He is expected to hold the position with Kvaerner as acting Chief Financial
Officer for a period of six - nine months.

For more information:  Paul Emberley, Vice President Group Communications: +44
(0)20 7339 1035 or  [phone].

Notes to editors:  Kvaerner is a world-class Anglo-Norwegian engineering and
construction Group.  It meets the needs of its customers by adding value to
their business - through the provision of innovative, cost-effective solutions
- for challenges in the hydrocarbons, process and metals industries.  The
Group's activities are currently organised in two core business areas: E&C
(Engineering and Construction), and Oil & Gas.  Kvaerner is a Norwegian
registered business, but has a London, UK-based international headquarters. 
The Group has annual revenues in excess of US$6 billion, with some 35,000
permanent staff located in almost 35 countries throughout Europe, Africa, Asia
and the Americas.