Delisting of Shares

RNS Number:9968L
Kvaerner ASA
23 October 2001



Kvaerner to delist in London

LONDON, 23 OCTOBER 2001: The Board of Directors of Kvaerner ASA has decided
that the listing of the Company's shares (par value NOK 12.50) on the Official
List of the UK Listing Authority is to be cancelled with effect from 21st
November 2001.  The Board is of the option that, due to the very limited
trading volume in the Company's shares in London, the Company no longer
requires a listing on the Official List of the UK Listing Authority.  The
shares will continue to trade on the Oslo Exchange.


For further information: 
Paul Emberley, Vice President, Group Communications, Kvaerner PLC: 
[phone] or [phone] or [e-mail] 

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.