Aker Kvaerner Selects HP and BT Alliance to Implement IT Communications Around the Globe

Aker Kvaerner is a worldwide operating engineering company invarious industries, including oil and gas, refining and chemicals,mining and metals, pharmaceuticals and biotechnology, powergeneration, and pulp and paper. In all of these areas, the business isbased on projects that set up quickly, need to be executed rapidly andclosed on short notice.

The HP and BT alliance will integrate the Norway-based firm's ITand communication networks into one single global IT organization.With a potential value of $50 million, the five-year contract willcover all IT and communications infrastructure.

The agreement provides an umbrella for all communicationsservices. The first detailed services cover the Aker Kvaerner widearea network, which connects its offices and sites and also providessecure access to the Internet. Further services are expected to followduring the remainder of 2006.

Aker Kvaerner chose the HP and BT alliance while seeking onesupplier to provide it with a simple, cost-efficient infrastructure tohelp the company operate globally.

"This agreement will realize significant savings for Aker Kvaernerglobally and deliver a globally consistent service for this criticalpart of our IT delivery," said Frode Strand, senior vice president,Global IT, Aker Kvaerner. "Our data and voice communicationsinfrastructure has been fragmented, and although we have made manyimprovements over the last years, selecting a single global partneraffords much lower rates, globally consistent service levels and aflexible contract structure that includes use of benchmarking toguarantee year-on-year savings."

The deal expands Aker Kvaerner's relationship with HP, whichprovides Aker Kvaerner with data center hosting, servers and PCs.

"We are proud to be chosen by such a professional and demandingcustomer as Aker Kvaerner," said Eivind Roald, managing director, HPNorway. "The HP and BT alliance will provide the solution AkerKvaerner needs in order to use IT as a strategic advantage, supportingthe company's business processes and becoming a true adaptiveenterprise."

"We are delighted to have been selected in partnership with HP assingle supplier of Aker Kvaerner's global communication needs," saidAnders Westkamper, Nordics country manager, BT. "It is fantasticrecognition of BT's capabilities in Scandinavia. Once again, thecombined expertise and strength of the HP and BT alliance is provencompetitive and successful."

In May 2004, BT and HP announced plans to develop a strategicgo-to-market alliance to address mutual growth opportunities in theglobal IT and networking marketplace. As the communications and ITsectors converge, the alliance presents a major opportunity for BT andHP to use their combined capabilities in delivering enhanced serviceofferings to the growing global IT and networking market.

About Aker Kvaerner ASA

Aker Kvaerner, through its subsidiaries and affiliates ("AkerKvaerner"), is a leading global provider of engineering andconstruction services, technology products and integrated solutions.The business within Aker Kvaerner comprises several industries,including oil and gas, refining and chemicals, mining and metals,pharmaceuticals and biotechnology, power generation, and pulp andpaper. The Aker Kvaerner group is organized into two principalbusiness streams, namely oil & gas and engineering & construction,each consisting of a number of separate legal entities. Aker Kvaerneris used as the common brand/trademark for most of these entities.

The parent company in the group is Aker Kvaerner ASA. AkerKvaerner has aggregated annual revenues of approximately $6.67 billionand employs approximately 20,000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (www.akerasa.com), amulti-industry powerhouse with more than 40,000 employees and $9.64billion in revenues. Aker owns 50.01 percent of Aker Kvaerner, and thegroup is also a major European shipbuilder and a significantparticipant in the fisheries industry.

About BT

BT is one of the world's leading providers of communicationssolutions and services operating in more than 160 countries. Itsprincipal activities include networked IT services, local, nationaland international telecommunications services, and higher-valuebroadband and Internet products and services. BT consists principallyof four lines of business: BT Global Services, Openreach, BT Retailand BT Wholesale. For the year ended March 31, 2005, BT Group'srevenue was $34.4 billion with profit before taxation of $4.35billion.

British Telecommunications plc (BT) is a wholly-owned subsidiaryof BT Group and encompasses virtually all businesses and assets of theBT Group. BT Group plc is listed on stock exchanges in London and NewYork.

For more information, visit www.bt.com/aboutbt.

About HP

HP is a technology solutions provider to consumers, businesses andinstitutions globally. The company's offerings span IT infrastructure,global services, business and home computing, and imaging andprinting. For the four fiscal quarters ended April 30, 2006, HPrevenue totaled $88.9 billion. More information about HP (NYSE,Nasdaq: HPQ) is available at www.hp.com.

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