Aker Kvaerner Names Bjorn Erik Naess New CFO

Bjorn Erik Naess has been appointed Group Executive Vice President and Chief Financial Officer (CFO) of Aker Kvaerner ASA.

"I am very pleased that Bjorn Erik Naess has decided to join us. He has broad industry experience and a distinguished professional background," commented Group President and CEO Inge K Hansen in Aker Kvaerner.

Aged 49 and a Norwegian citizen, Bjorn Erik Naess has been Executive Vice President and CFO of Carlsberg Breweries A/S since 2000. This Danish based beverage group with global activities had operating revenues of DKK 47 billion (approx US $7.7 billion) in 2003.

In the period 1995-2000 Naess was Senior Vice President and CFO of Norway's Orkla group, one of Norway's largest companies with activities within branded consumer goods, chemicals and financial investment sectors with the Nordic region as its home market. Naess graduated from Norges Handelshoyskole (Norwegian School of Business and Administration) in 1979.

Naess will assume his new position no later than October 1st.

"With Bjorn Erik on board, our executive management team will be complete," Inge K. Hansen said. "Finn Berg Jacobsen has been acting CFO since the end of 2003, a role he has performed in a very satisfactory way. Amongst his tasks in this period, was the NOK 5.5 billion refinancing of the group, which was successfully completed in April. Berg Jacobsen will now be relieved of his double role, and allowed to focus all his energy on his Chief of Staff responsibilities."