The Norwegian National Rail Administration has awarded Veidekke the contract for a new access tunnel to the Lierås tunnel in the county of Buskerud. This contract includes the construction of a 390 metre long access tunnel and two portals. One of the portals is in the access tunnel and the other connects it with Lier Station. Technical rooms and ventilation fans are also included in the contract. The construction work has started and will be completed by 8 December 2003. The contract price is about NOK 38 million excl. VAT.

Veidekke is to build a bridge at Pinesund for the Public Roads Administration, Region South. This bridge is part of a new stretch of the E18 highway in the county of East Agder. The work includes the planning and building of a new bridge about 210 metres long and 13.5 metres wide. Construction starts on 1 June and will be completed by 1 July 2004. The contract price is approximately NOK 20 million excl. VAT.

Veidekke has recently signed a contract with the Public Roads Administration, Region East, for demolition of existing and erection of new noise barriers along the E6 at Lindeberg in Oslo. This work includes excavation, foundation work and the erection of 500 metres of noise barriers, as well as relevant steel and concrete work and glass and aluminium work. The building work has commenced and will be completed by 19 December 2003. The contract price is about NOK 18 million excl. VAT.

For Statkraft (state power systems), Veidekke will rehabilitate the Akervass dam in Mo i Rana. This includes slope protection, i.e. laying new rock in the existing rockfill dam over a length of 490 metres and to a height of 50 metres. Rehabilitation of the dam entails draining off water from the reservoir. The work is due to start on 14 April and will be completed on 1 October 2003. The contract price is about NOK 16 million excl. VAT.

Veidekke is to build two new rectifier stations for Hafslund Entreprenør A/S in Oslo. The contract also includes cable trenches, asphalting and kerb laying. The work starts on 7 May and will be completed by 1 December 2003. The contract price is about NOK 5 million excl. VAT.

Veidekke has been awarded a contract by Manstad Kjøtt (meat wholesalers) at Greåker for excavation and foundation work for a prefabricated building. The contract includes the foundation wall, slab-on-ground and necessary water and drainage work. Work has just started and will be completed by 9 May 2003. The contract price is about NOK 3 million excl. VAT.

For further information, please contact:

Mr. Klaus Hansen, Regional Manager,

phone +47 21 05 78 12 (Lierås tunnel)

Mr. Harald Sangnes, Regional Manager,

phone +47 21 05 74 65 (other contracts)