11 May 2009 - Today, Aker Solutions published UBS' Fairness Opinion covering three transactions.

At the request from - and on a mandate approved by - the Norwegian Ministry of trade and industry, SAAB and Investor, Aker Solutions engaged the international investment bank UBS to provide a fairness opinion regarding of the acquisition of shares in Aker Oilfield Services, DOF Deepwater and Odim.

"These transactions are important building blocks in the strategic development of Aker Solutions. Prior to the execution of the transactions, DnBNOR Markets concluded that the terms of the transactions were fair. Today, we are very pleased to publish the foundation for, and conclusions of UBS' fairness opinion", says Simen Lieungh, President & CEO of Aker Solutions.

The background for UBS' work is that the Ministry of Trade and Industry on 3 April 2009 asked the Board of Directors of Aker Holding to request that Aker Solutions obtain a new, independent fairness opinion for the three transactions announced 2 April. The minority shareholders in Aker Holding, the Ministry of Trade and Industry, SAAB and Investor, selected the international investment bank UBS to carry out the task, and they approved the mandate for the fairness opinion - what UBS should assess and how they perform their task.

"The transactions were executed as a part of our long term effort to develop Aker Solutions, based on the strategy plan decided by our Board of Directors in June and September 2008. It is our hope that the Ministry of trade and Industry, SAAB and Investor now has the necessary foundation to express their confidence that these transactions are right for Aker Solutions", Lieungh ends.

 

ENDS 

UBS fairness opinion letter attached.

For further information, please contact:

Jannik Lindbæk, SVP Corporate Communications, Aker Solutions. Tel: +47 67 51 30 36, Mob: +47 977 55 622

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact BA Global Sourcing Champion, telephone number found here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.

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

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. 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 58 billion and employs approximately 23 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.  

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