Veidekke Entreprenør AS has signed a contract with the municipality of Nome for carpentry and masonry work for the Nome nursing home in Lunde. This is a main contract that is scheduled for completion during summer 2004. The new nursing home will have a total area of approximately 6,600 m2 and room for about 70 patients. The building is a combination of load bearing structures of concrete and wood structures faced with brick.

Veidekke Entreprenør AS has signed a contract with German company Uhde for the construction of a new chlorine factory at Rafnes in Bamble. The contract is for excavation and concrete work plus options for a number of additional works. The work includes load bearing concrete structures. The concrete and reinforcement steel is estimated at approximately 7,000 m3 and 700 tonnes respectively. The project will be carried out as a joint venture between Veidekke's units in Telemark and Vestfold. Next year, approximately 50 people will be working on the project. Production will be at its peak in 2004, and the whole project is scheduled for completion during summer 2005.

"After working in a weak market for the past few years, it is very positive for everyone in our organisation that we have now been awarded these contracts. In addition, we have recently started work on a contract for Jernbaneverket (the Norwegian National Rail Administration) in Kongsberg and external renovation of two blocks of flats in Porsgrunn for Porsgrunn Boligbyggelag (housing cooperative). These contracts form a good basis for our operations in 2004," says District Manager Trond Karlsen.

For further information, please contact:

District Manager Trond Karlsen, Veidekke Entreprenør AS,

Phone + 47 35 93 11 11/906 15 930

Project Manager Roger Dreyer, Veidekke Entreprenør AS,

Phone + 47 35 93 11 11/907 36 632

Project Manager Jørn Chramer, Veidekke Entreprenør AS,

Phone + 47 35 93 11 11/911 82 028