Re Contracts

RNS Number:7258O
Kvaerner PLC
14 December 2001


Kvaerner's German shipyard announces contracts to build two container vessels,
worth US$68 million

LONDON, 14 DECEMBER: Kvaerner, the international engineering and construction
Group,  today announced contracts with Munchmeyer Petersen Capital AG for the
building of two container vessels worth a total of US$68 million - for its
German shipyard, Kvaerner Warnow Werft, in Rostock.  The two container vessels
are due for delivery in the second quarter of 2003.

With these contracts, the order reserve for container vessels at Kvaerner's
German shipyard now numbers six, all of which have been ordered by German
ship-owners. Between 1997 and 2001, Kvaerner Warnow delivered nine vessels of
the same basic design. 

The type WARNOW CV2500 container vessels developed by KWW have an overall
length of 208.3 metres and are 29.8 metres wide. With a deadweight of 33,550
tons, they have a total stowage capacity of 2,524 TEU and include 400 reefer
sockets. 

For further information: 
Arnfinn Orten, President, Kvaerner Warnow Werft: [phone] or Matthias
Trott, Communications Manager, Kvaerner Warnow Werft, [phone] or +49
175 29 15 259 or Paul Emberley, Vice President, Group Communications, Kvaerner
PLC: [phone] or [phone] or www.kvaerner.com

For further information:
Paul Emberley, Vice-President, Group Communications, Kvaerner PLC:  07768
813090

Note to editors:
Kvaerner is a world-class engineering and construction group. The Group's
activities are organised in two core business areas: E&C (engineering and
construction), and Oil & Gas.  It also has interests in shipbuilding and the
provision of services to the pulping industry.   The Group has annual revenues
of more than US$6 billion, with some 34,000 permanent staff located in almost
35 countries throughout Europe, Africa, Asia and the Americas.