Veidekke strengthens its operations in Sweden with a new managing director and a new organisation.

"The recruitment of Per-Ingemar Persson is an important step in our efforts to consolidate our operations in Sweden," says Terje R. Venold, president and CEO of Veidekke. "Per-Ingemar's knowledge of the market and his managerial skills made the choice easy for us, and we are pleased that he has accepted the challenge," Venold says.

Per-Ingemar Persson, who is now the managing director of NVS Installation AB with operations in Norway and Sweden, has long experience from construction and property development. In addition to three years in his present position, he worked with Skanska for twenty years in various positions, among others as head of Skanska's operations in Sweden and in Denmark.

Veidekke holds a leading position in the Norwegian market and has for a number of years had substantial operations in Sweden. Veidekke's ambition is not to be the largest, but to be the best and most profitable contractor and property developer in Scandinavia.

"We are also reorganising our Swedish operations by merging today's five companies into one strong company, of which Per-Ingemar will be managing director," Mr. Venold continues.

Today, Veidekke's operations in Sweden are carried out through a property development company, Veidekke Bostad AB, and four construction companies: Veidekke Stockholm Bygg AB, Veidekke Anläggning Öst AB, Veidekke Skåne AB and VECON Veidekke Construction AB (Gothenburg). All of these companies will now be combined into one new company, Veidekke Sverige AB. In 2004, Veidekke's total annual turnover in Sweden amounted to SEK 1.7 billion with some 700 employees.

Per-Ingemar Persson was born in 1956, and is a chartered engineer from the Technical University of Lund. He will take up his new position as soon as possible.

Digital photos may be downloaded from www.veidekke.no

For further information, please contact

Terje R. Venold, President and CEO of Veidekke ASA, mobile phone +47 905 82 323

Per-Ingemar Persson, newly appointed Managing Director of Veidekke Sverige AB,

mobile phone +46 705 14 42 40

Kai Krüger Henriksen, Senior Vice President and Head of Communication, Veidekke ASA,

mobile phone +47 905 19 360