As a consequence of the consummation of the demerger, Aker Solutions' share capital has been reduced by NOK 93,160,000 from NOK 548,000,000 to NOK 454,840,000 by means of a reduction of the par value of each share in Aker Solutions from NOK 2.00 to NOK 1.66. Simultaneously with the reduction in Aker Solutions' share capital, Kvaerner's share capital has been (i) reduced from NOK 1,000,000 to zero with distribution of the reduction amount to Aker Solutions, and (ii) been increased by NOK 91,460,000 from zero to NOK 91,460,000 through the issuance to eligible Aker Solutions' shareholders of 269,000,000 consideration shares in Kvaerner, each with a par value of NOK 0.34, in the ratio of one consideration share in Kvaerner for each share in Aker Solutions. The consideration shares in Kvaerner will be distributed on a pro rata basis to shareholders of Aker Solutions as of expiry of 7 July 2011 (cut-off date) as such shareholders appear in the shareholders register of Aker Solutions with the Norwegian Central Securities Depositary (Nw. VPS) as of expiry of 12 July 2011 (record date). The consideration shares in Kvaerner will be delivered and made available to eligible shareholders of Aker Solutions on 13 July 2011.

In conjunction with the registration of the consummation of the demerger, the new board of directors of Kvaerner was registered with the Norwegian Registry of Business Enterprises. The new board of directors of Kvaerner consists of the shareholder-elected members Kjell Inge Røkke (Chairman), Tore Torvund, Bruno Weymuller, Lone Fønss Schrøder and Vibeke Hammer Madsen and the employee-elected members Rune Rafdal, Ståle Knoff Johansen and Bernt Harald Kilnes.

ENDS

Media:
Geir Arne Drangeid, EVP Communications, Aker Solutions. Tel: +47 67 51 30 36, Mob: +47 913 10 458

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194
Astrid Thommesen Sæbø, VP Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 481 70 035

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers.

Career opportunities:
Visit http://www.akersolutions.com/careers.

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global oil services company that provides engineering and construction services, technologies, product solutions and field-life solutions for the oil and gas industry. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 47 billion and employs approximately 20 000 people in about 30 countries. These figures include Aker Solutions' wholly owned subsidiary Kvaerner.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.

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