The municipality of Nøtterøy has asked Veidekke to build a primary school at Oserød. The contract is a turn-key contract for a two-storey building of 6,200 sq. m. The construction work starts in January 2003, and is scheduled for completion by 31 May 2004.

In connection with the construction of the school, Veidekke has been asked to undertake the renovation of the Hårkoll Hall, a sports hall situated on the site next to the school. The renovation will be carried out as a main contract, and the work will be completed by 31 July 2004.

The two contracts have a total value of approximately NOK 94 million, VAT excluded.

For further information, please contact:

Mr. Harald Lausund, District Manager,

phone +47 33 30 7963, mobile +47 915 53 140

Mr. Pål Rogne-Renna, Project Manager,

phone +47 33 30 79 62, mobile +47 915 79 244