Re Directorate

RNS Number:0941M
Kvaerner ASA
24 October 2001



President and CEO Kjell E Almskog resigns on 1 November

LONDON, 24 OCTOBER 2001: President and CEO Kjell E Almskog has informed the
Board of Directors that he wishes to resign, effective on 1 November 2001. He
will also resign from his position as Director of the Board.  On the Board's
request Kjell Almskog will be available for the Group as an advisor for some
time to come.

Commenting on his resignation Kjell Almskog says: " Kvaerner is facing a
restructuring both financially and operationally. At the same time the Group
has a new shareholder structure and a new Board is to be elected.  In this
situation I find it naturally to resign and open up the possibility for a new
management and Board to reflect these changes".


For further information: 
Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20
7339 1035 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.