Changes in Aker Kvaerner's Management Team

Friday, June 10, 2005

Executive Vice President Jon Erik Reinhardsen resigns and assumes a position in Alcoa as President - Growth, Primary Products. Reinhardsen has been a member of Aker Kvaerner's executive management team and from 2002 been located in Houston, USA. He will now move to Alcoa's office in New York. Jon Erik Reinhardsen's position in Aker Kvaerner will not be replaced as his tasks will be handled by other members of the management team.

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