At the end of August, Veidekke could publish the news of the sale of its plant hire operations, Bautas, to the listed Finnish company Ramirent at a price corresponding to NOK 885 million. This transaction exemplifies Veidekke’s focus on its core business areas, construction and property development.

The sale will release approximately NOK 630 million in capital for the Group and will give an accounting gain of NOK 30 million. At the same time, Veidekke will have a 33% ownership share of the new Ramirent.

The new company will have its head office in Helsinki, and will operate in Finland, Sweden, Norway, Russia, Poland, Hungary, and also in the Baltic States. The new Ramirent will have a turnover of close to NOK 1.3 billion (about EUR 170 million).

Please also refer to our press release of 29 August 2002.

Please address any questions to:

Eigil Flaathen, Senior Vice President, Industry Division,

phone (+47) 21 05 76 40 or 906 89 461

Arne Giske, Senior Vice President and CFO,

phone (+47) 21 05 77 80 or 905 89 526

Kai Krüger Henriksen, Senior Vice President, Communications,

phone (+47) 21 05 77 04 or 905 19 360