Share Issue Directed at Employees

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Based on authorisation by the Annual General Meeting of Veidekke ASA, Veidekke's Board of Directors has decided to carry out a share issue of 270,000 shares, equivalent to approximately 1 per cent of the share capital, directed at its employees.
The aim of the share issue is to strengthen ties to its employees by increasing the number of employee shareholders.

The employees will be given the opportunity to buy 50 - 1,000 shares each at a price that is approximately 10 - 15 per cent lower than market price. The price of the share issue will be stipulated on 4 November 2002 based on the market price of the last few days. Buying period is from 11 to 20 November 2002. The shares will be issued by the end of December 2002.