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Kværner ASA : Kvaerner has entered into lease agreement for new headquarters at Fornebu



 Kværner ASA : Kvaerner has entered into lease agreement for new headquarters
                                  at Fornebu

23 April 2013 - Kvaerner has signed an agreement with Fornebuporten AS for a
long term lease for Fornebuporten - a new headquarters office building which
will be built at Fornebu near Oslo. The Fornebu peninsula is a key location
for the Norwegian oil and gas industry and the new headquarters gives Kvaerner
proximity to partners and customers. The building's functionalities will be
tailored to meet Kvaerner's specifications.  The transaction is a related
party transaction.

The design and new headquarters building will be developed in close
cooperation with Kvaerner with office lay-out favourable to Kvaerner's project
orientated business activities. The lease contract is for approximately 8.000
sqm.

Fornebuporten is owned and developed by Aker ASA through Aker's wholly-owned
subsidiary Fornebuporten AS.  Since Aker has ownership interests in both
companies, the lease agreement between Fornebuporten and Kvaerner is a related
party transaction.  Consequently, the pre-transaction process and conclusion
to enter into the lease agreement have been conducted at arm's length, in
accordance with relevant regulation as well as in compliance with Kvaerner's
own guidelines for related party transactions. 

Kvaerner's new headquarter building, Fornebuporten, is scheduled for
completion in second quarter 2015.
The term of the agreement is 12 years with options for five + five years.
ENDS

For further information, please contact:

Media:

Mariken Holter, SVP Communications, Kvaerner, Tel: +47 67 52 74 35, Mob: +47
91 78 73 58

Investor relations:

Ingrid Aarsnes, SVP Investor Relations, Kvaerner, Tel: +47 67 59 50 46, Mob:
+47 950 38 364

About Kvaerner:

With more than 3 000 HSE-focused and experienced employees, Kvaerner is a
specialised provider of engineering, procurement and construction (EPC)
services for offshore platforms and onshore plants. Kværner ASA, through its
subsidiaries and affiliates ("Kvaerner"), is an international contractor that
plans and realises some of the world's most demanding projects as a preferred
partner for upstream and downstream oil and gas operators, industrial
companies and other engineering and fabrication contractors.

In 2012, the Kvaerner group had consolidated annual revenues of close to NOK
11 billion and the company had an order backlog of more than NOK 21 billion on
31 December 2012. Kvaerner was publicly listed with the ticker "KVAER" at the
Oslo Stock Exchange on 8 July 2011. For further information, please visit
www.kvaerner.com.

This information is subject of the disclosure requirements pursuant to section
3-3 of Continuing obligations of stock exchange listed companies.

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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Kværner ASA via Thomson Reuters ONE
HUG#1695217
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