Nordic Shelter Solutions is a wholly owned subsidiary of Veidekke's Industry Division and it is responsible for Veidekke's weather protection operations. Its main products are tarpaulins, and simple storage halls, in addition to weather shelters for buildings under construction. The company has operations in Finland, Denmark, Sweden and Norway and an annual turnover of just over SEK 300 million.

An agreement on the sale was signed on 22 March. Under the agreement, a new holding company will be established of which Veidekke will have 30% ownership. The management team in the new company will also participate as owners. The transaction will be finalised in May 2002.

"The sale of our weather protection operations is part of Veidekke's effort to concentrate more on its core operations," says Mr. Arne Giske, Veidekke's Chief Financial Officer.

"The weather protection operations were acquired by Veidekke through its purchase of Stavdal in 2000 and selling them to our Finnish partners will position it correctly in relation to its management, which is largely located in Finland. We also believe that the new ownership structure will give the company better possibilities of growth and development," Mr. Giske adds.

For further information, please contact:

Veidekke ASA, Arne Giske, Vice President Corporate Finance,

tel. +47 21 05 77 80 / 905 89 526

Veidekke ASA, Kai Krüger Henriksen, Vice President Communication,

tlf. +47 21 05 77 04 / 905 19 360

Helmet Business Mentors Oy/Partner Pentti Kulmala,

tlf. +358 400 321 554