UFO Pukkverk is a family company with thirty employees and an annual turnover of approximately NOK 40 million. Tore Rødal is the company's main shareholder, holding 65% of the shares. The company has two crushing plants, one in Spjelkavik and one in Brattvåg, with a total annual volume of about 250,000 tonnes. The company is also a major contractor.

Kolo Veidekke has other well-established asphalt and crushed stone operations in Ålesund. After taking over UFO Pukkverk, its annual production will total about 400,000 tonnes.

"The crushing plant in Spjelkavik is located right beside our plant and it was therefore natural to look into the possibilities of merging the two operations," says Vidar Aarvold, Managing Director of Kolo Veidekke a.s.

"The synergy effect of this acquisition will have great significance for our overall activities in Ålesund," says Mr. Aarvold.

The contractor business will be spun off and it will continue as an independent operation.

A due diligence investigation of the company will be conducted in the coming weeks and the purchase will come into effect on 1 June 2002. The parties have agreed not to publicise the purchase price.

For further information, please contact:

Vidar Aarvold, Kolo Veidekke a.s,

tel. +47 21 05 76 41, mobile +47 905 53 383

Magne Mørkedal, Kolo Veidekke a.s,

tel. +47 70 17 54 00, mobile +47 908 62 150

Tore Rødal,

mobile +47 908 95 180