NCC will not raise offer price to Selmer ASA shareholders

12/20/1999 11:40 AM EST

After having conducted constructive discussions with the largest
shareholders in Selmer ASA, NCC AB was prepared to raise its offer to
Selmer ASA shareholders to NOK 105 per share in cash.

A prerequisite for the offer from NCC was that Selmer ASA's management and
board of directors showed support for the acquisition.

Following a dialog with Selmer ASA's management, NCC concluded that
Selmer's management was not willing to support the acquisition, even if
the offer price was raised to NOK 105 per share.

Accordingly, NCC does not intend to raise the offer price, or to extend
the offer period.

NCC does not now expect to attain the targeted level of acceptance from
Selmer ASA shareholders who represent 90 percent of the share capital in
the company.

For further information, please contact:
Jan Sjöqvist President and Chief Executive Officer of NCC (Tel: +46-8-655
22 78).