Kværner ASA : The Board of Directors' proposals to Kværner ASA's Annual General Meeting

13 February 2013 - The Annual General Meeting of Kværner ASA will be held on Wednesday 10 April 2013 at 09:00 a.m. CET at Drammensveien 260 (the Hydro building at Vækerø) Oslo, Norway.

At a meeting on 12 February 2013, the Board of Directors resolved to propose to the Annual General Meeting of Kvaerner that a semi-annual dividend of NOK 0.55 per share is approved by the Annual General Meeting.

Subject to approval by the Annual General Meeting, the dividend payment will take place on or about 24 April 2013 to shareholders of record as per the date of the Annual General Meeting. The shares will be quoted exclusive dividend from and including 11 April 2013.

ENDS

For further information, please contact:

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

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

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 at 31 December 2012 of more than NOK 21 billion. 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

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This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.