Akastor ASA: Investment of USD 75.0 million in Odfjell Drilling Ltd.

Reference is made to the stock exchange announcement on 19 April by Akastor ASA, and the announcement today by Odfjell Drilling Ltd. (OSE ODL, "Odfjell") in which Odfjell announces that it has entered into an agreement with Samsung Heavy Industries to purchase the "Stena Midmax" rig. As part of the rig financing, an affiliate of Akastor ASA ("Akastor"), has today entered into a preference share investment agreement and a warrant investment agreement with Odfjell.

Please see details in the announcement enclosed.

Media contact:
  
Leif Borge
Chief Financial Officer

Mob: +47 917 86 291
E-mail: leif.borge@akastor.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.