"GREEN" CONTRACT FOR NORWEGIAN ELECTRIC SYSTEMS

Norwegian Electric Systems AS ("NES)", which is owned
50,5% by Havyard Group ASA, has signed a new contract
with Remontowa Shipbuilding in Gdansk for delivery of
two hybrid electric systems for two new ferries. The
owner of the ferries is the British company Transport
of London (TfL) and the LMG Marin 60-DEH design
includes a propulsion system of the latest green
energy. The contract has a total value of MNOK 25-30.

The ferries will operate between Woolwich and Nord
Woolwich on the River Thames in London.

For further information, please contact:

Janiche Bull Pettersen
Adm & Market Executive NES
+47 91 89 99 39