Multiconsult

Multiconsult wins contract with ZESCO, the national power utility in Zambia

ZESCO, the national power utility in Zambia, has awarded Multiconsult ASA's

subsidiary Multiconsult UK the contract with the assignment to identify and

value their generation, transmission and distribution assets. The value of the

contract is approximately NOK 28 million and work will begin immediately

ZESCO is wholly owned by the Government of Zambia and has four major

hydroelectric power stations, five small hydropower stations, nine diesel power

stations, approximately 5,774 km of transmission lines, 81 high voltage sub

stations and a distribution system serving the entire country.

To support accurate business planning and corporate financing, ZESCO revaluates

the value of their assets on a regular basis. The project team will undertake

identification, condition assessment, determination of present book value and

residual lifetime assessment of all fixed power system assets in accordance with

national legislation and international standards.

The scope will additionally include insurance risk assessments and the creation

of a new fixed asset register with interfaces to ZESCO's accounting and

equipment maintenance systems.

"This appointment marks the continuation of an important working relationship

with ZESCO" says Knut Norén, Managing Director of Multiconsult UK. "Our

hydropower engineers have worked with ZESCO since the 1950's, and the new

assignment proves that our clients continue to value Multiconsult`s world

-leading hydropower expertise"

The assignment is planned to take nine months and will be undertaken by a large

team comprising staff from the UK, Norway, South Africa and Zambia.

For further information, please contact:

Investor relations:

Mirza Koristovic, Head of Investor Relations

Phone: +47 93 87 05 25

Media:

Gaute Christensen, VP Communications

Phone: +47 911 70 188

ABOUT MULTICONSULT

Multiconsult is a leading Norwegian multidisciplinary engineering consulting

company, with more than 2 500 employees and 45 offices in Norway and abroad. The

Company focuses on six business areas: Buildings & Properties, Transport,

Renewable Energy, Oil & Gas, Industry and Water & Environment. The Company has

an operating history that spans more than a century, with the inception of Norsk

Vandbygningskontor in 1908.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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