Kynningsrud Kran enters the wind power market with Scandinavia's biggest crane.

The crane has a value of more than 40 million kroner and is Kynningsrud Kran's largest single investment ever.
Kynningsrud Crane division is one of the Nordic regions premier actors with respect to all types of crane activities. This investment is a co-operation between the crane departments in Norway and Sweden – Kynningsrud Kran AS and Kynningsrud Kran AB respectively. We plan to operate the crane in markets such as wind power, construction, petro chemicals and oil related work. The geographical market will be Northern Europe.

The Kynningsrud Group consists of three divisions: Crane Rental, Precast Concrete as well as Foundations – Pile and sheet pile work. The Group's primary markets are Norway and Sweden. The turnover for 2006 is expected to be approximately 700 million kroner.

The Crane division has 180 employees, 120 cranes, gantry cranes and hydraulic jacks for lifting and transport of materials for all types of construction.
With this new crane Kynningsrud has invested 150 million kroner over the past two years. Expecting a good result, the crane division will probably have a turnover of nearly 300 million kroner in 2006.

- We have been working on this investment for a long time, and the time is right for a stronger input to the market, says Harald Kynningsrud – leader of the board in Kynningsrud. He continues:
- The crane represents a new dimension for us, and we are excited to follow the development. The crane will be available for various demands and will not be put on a single project.

For more information please contact:
Sweden - General Manager Mats Pernhage +46 706 33 00 60
Norway - General Manager Eirik Kynningsrud + 47 909 82 561
Leader of the board, Harald Kynningsrud +47 900 57 570
For further information about the Kynningsrud group: www.kynningsrud.com



Fredrikstad, March 27th, 2006