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Maritime contract worth MNOK 45

Kongsberg Maritime`s subsidiary Kongsberg Simrad announces the signing of a contract valued at approximately MNOK 45 with the Keppel Hitachi Zosen shipyard of Singapore. "This deal confirms that we have established a firm foothold in this highly active market", states Marketing Director Tor Erik Sørensen.

The contract is for an integrated control and monitoring system (ICMS), as well as a dynamic positioning system. It was signed in collaboration with ABB Finland. The contract is for the four remaining cable-laying vessels (of six altogether) being built for TyCom Ltd, a major US shipping company.

"TyCom is one of the main trend-setters in this market. Naturally, the fact that Kongsberg is the company of choice for one of the largest operators in the market will have important signal effects. Kongsberg Simrad signed the first contract with TyCom last year, and these four vessels are the result of TyCom`s exercising an option in that contract", explains Tor Erik Sørensen of Kongsberg Simrad.

Scheduled for delivery in 2002, the cable-laying vessels will be used to lay fibre optic cables world-wide. The systems supplied by Kongsberg Simrad will ensure operational reliability and accurate positioning of the vessels, allowing the cables to be laid with a high degree of precision.

Kongsberg Maritime is one of the world`s foremost suppliers of sophisticated, marine information technology. The company has roughly 2300 employees, located in more than 20 countries.

For further details, please contact: Marketing Director Tor Erik Sørensen Kongsberg Simrad AS Telephone: ( 47) 958-85447