RNS Number:0246T
Kvaerner ASA
25 October 2000


Kvaerner - compensation to right holders who failed to utilise their
subscription rights

LONDON, 25 OCTOBER 2000: Kvaerner ASA, the Anglo-Norwegian engineering and
construction Group, today announced that holders of subscription rights who
did not utilise their rights in the recent Offering by the Company's
consolidation of its A and B share classes, will receive compensation of NOK
13.44 per subscription right.

Sundal Collier & Co ASA, in its role as Manager of the rights offering,
subscribed for new shares covered by the unutilised subscription rights.  A
total of 471,736 shares were subscribed by the Manager and sold in the market
during week 42, at an average price of NOK 79.70 per share.

The net proceeds from the transactions will be transferred to the individual
right holders' dividend account registered with the VPS on 30 October 2000.


For further information:
Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20
7339 1035 or +44 (0)7768 813090 or paul.emberley@kvaerner.com or
www.kvaerner.com
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