NCC raises its dividend target, introduces options program and studies potential

12/17/1998 10:23 AM EST

NCC raises its dividend target, introduces options program and studies
potential for sale or spin-off of shares

At today's meeting of NCC's Board of Directors, a decision was made to raise
the dividend target to half of profit after taxes. In addition, a rolling
options program is to be introduced which, depending on the relative price
performance of the NCC share, will generate an annual allotment of options to
the NCC Group's 200 most senior executives. The Board also decided to study
the potential for liquidation of NCC's shareholdings in Neptun Maritime and
Hufvudstaden, through either a sale or a spin-off to NCC shareholders.

NCC's previous dividend target was to distribute one third of profit after
taxes to shareholders. Now that NCC's financial position has become
significantly stronger and the equity/assets ratio has reached the long-term
corporate objective of 35%, the Board has decided to raise the target to one
half of profit after taxes.

In order to further boost the commitment of senior executives and their
ownership participation in NCC, the Board has decided to introduce a rolling
options program. The Group's 200 most senior executives will be covered by the
program, and the allotment of options will be linked to the relative price
performance of the NCC share and the return on equity within the Group. The
program will be launched at year-end 1998 and the first allotment will be a
year later.

As part of efforts to concentrate operations on NCC's core construction and
real estate business, the Board also decided to study the potential for a
liquidation of NCC's shareholdings in Neptun Maritime and Hufvudstaden,
through either a sale or a spin-off to NCC shareholders.

For further information, please contact:
Hans-Olof Karlsson, Senior Vice President - Corporate Communications,
telephone +46 8 655 22 79