Kværner ASA: Acquisition of own shares

25 June 2012 - Kværner ASA has on 22 June 2012, in connection with the company's share purchase programmes for employees and managers, purchased 40 000 own shares in the open market at an average price of NOK 13.2309 per share. Following the transaction, Kværner ASA holds a total of 1200 000 own shares.

ENDS

For further information, please contact:

Investor relations: Ingrid Aarsnes, SVP Investor Relations, Kvaerner, Tel: +47 67 59 50 46, Mob: +47 950 38 364

Media: Mariken Holter, SVP Corporate Communications, Kvaerner, Tel: +47 67 52 74 35, Mob: +47 917 87 358.

About Kvaerner:

With more than 3 200 HSE-focused and experienced employees, Kvaerner is a specialised provider of engineering, procurement and construction (EPC) services for offshore platforms and onshore plants. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor that plans and realises some of the world's most demanding projects as a preferred partner for upstream and downstream oil and gas operators, industrial companies and other engineering and fabrication contractors.

In 2011, the Kvaerner group had aggregated annual revenues of more than NOK 13 billion and the company had an order backlog at 31 December 2011 of more than NOK 10 billion. Kvaerner was publicly listed with the ticker "KVAER" at the Oslo Stock Exchange on 8 July 2011. For further information, please visit www.kvaerner.com.