Aker Kvaerners Annual General Meeting


As a result of the election to the AGM, the Board of Directors now consists of:
Kjell Inge Røkke, re-elected
Reidar Lund, re-elected
Yngve Hågensen, re-elected
Bjørn Flatgård, not eligible
Leif Arne Langøy, new
Lone Fønss Schrøder, new
Kate Rodin, deputy member
Atle Tranøy, employee representative (not eligible)
Eldar Myhre, employee representative (not eligible)
Bernt Kilnes, employee representative (not eligible)

The Annual General Meeting decided not to pay dividend for 2002.

The proposed changes to the articles of association were adopted. As a result of this, the company will change its name to Aker Kvaerner ASA. The ticker code will be changed to AKVR.

The Annual General Meeting approved a reverse split (amalgamation) of the ordinary shares in the ratio 20 to 1. The Board of Directors was given authority to decide the timing, and the procedures for the implementation. The Board aims to address this matter at its meeting on 9 May.

The Board of Directors was given authority to increase the share capital, and to buy back the company's own shares, as described in the Notice of Annual General Meeting.

Presentation material can be downloaded at www.akerkvaerner.com