Veidekke has won the tender competition for construction work at the Naval Academy in Bergen. The contract has been signed and construction will start shortly. Completion date is scheduled for December 2004.

This is the main contract for the erection of a new building of approximately 4,000 m2 and renovation of existing buildings totalling approximately 8,000 m2. The main object of the renovation work is to improve the indoor climate of the buildings, among other things by installing a complete ventilation system.

The contract price is NOK 41.8 million excluding VAT, and the client is Forsvarsbygg eiendomsutvikling sør-vest (the Norwegian Defence Construction Service, South-East Department).

For further information, please contact:

District Manager Lars Rune Folkedal, Veidekke Entreprenør AS,

phone +47 55 38 70 00 / +47 913 46 978

Section Manager Frode Sekkingstad, Veidekke Entreprenør AS,

phone + 47 55 38 70 00 / + 47 901 48 193