Correction: Notice of Annual General Meeting of Kværner ASA

26 March 2015 - Reason for correction: Proposed resolutions to the Annual General Meeting item 8 and item 9 should read: the remuneration rates for the period from the Annual General Meeting 2014 until the Annual General Meeting 2015; and not the remuneration rates for the period from the Annual General Meeting 2015 until the Annual General Meeting 2016:

Updated versions of Proposed resolutions to the Annual General Meeting in Norwegian and English are attached.

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18 March 2015 - Attached is the notice of Annual General Meeting of Kværner ASA including notice of attendance/Proxy, the Nomination Committee's recommendations, the Board of Directors' proposed resolutions to the Annual General Meeting and the Board of Directors' statement of executive remuneration.

The General Meeting will be held Thursday 9 April 2015 at 09:00 CET at the premises of Kværner ASA at Drammensveien 264, Vækerø, 0283 Oslo, Norway. A hard copy version of the notice will be posted to the shareholders today.

The notice of meeting and supporting documents including the Articles of Association, Annual Report 2014 and Corporate Social Responsibility Report 2014 are available at www.kvaerner.com.

ENDS

For further information, please contact:

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

Media: Torbjørn Andersen, VP Communications, Kvaerner, Mob: +47 928 85 542

About Kvaerner:
Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 3 000 HSSE-focused and experienced employees are recognized for delivering some of the world's most amazing and demanding projects.

In 2014, the Kvaerner group had consolidated annual revenues of close to NOK 14 billion and the company reported an order backlog at 31 December of NOK 16.5 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.

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