President of NCC Construction Norway resigns

11/12/2002 6:00 AM EST

Espen A. Pay, the current president of NCC Construction Norway, has
resigned from this position. Jan Svensson, currently in charge of BOT
(build, operate and transfer) matters within NCC AB, will assume the
position of acting president of NCC Construction Norway as soon as
possible, pending the appointment of a new president.

"The new challenges facing the Norwegian company demand a new management
team with a different focus compared with the approach that was assumed
prior to my appointment in March this year. Ahead of the new phase of
the Turnaround process that is now being initiated, I believe that the
most appropriate move is to appoint a new leader to continue the efforts
with the aim of increasing the company's efficiency and changing its
corporate culture, says Espen A. Pay.

For further information, please contact:
Gisela Lindstrand, Press Relation Manager NCC AB
Tel +46 8 585 52346 or +46 70 392 9500

All of NCC's press releases are available on www.ncc.info

NCC is one of the leading construction and property development
companies in the Nordic region. NCC had in 2001 sales of SEK 46 billion,
with 25,000 employees.