Aker ASA : Aker restructures Converto and Aker Seafoods ownership

Aker ASA will sell its 90 percent ownership interest in Converto CapitalManagement AS to Fausken Invest AS, a company owned by Frank O. Reite. Followingthe acquisition, Fausken Invest will own 100 percent of the shares of thecompany, which serves as an investment advisor for Converto Capital Fund, aninvestment fund. Mr. Reite is CEO of Converto Capital Management.

Converto Capital Fund will continue operations with Aker's investment, whichconstitutes 99.8 percent of the fund's capital, and Fausken Invest will hold a0.2 percent fund investment. Fausken Invest and Frank O. Reite have been keyparticipants since the management company and investment fund were establishedon 1 July 2009.

Aker Seafoods will now move from Converto Capital Fund to direct ownership byAker ASA of the fisheries harvesting company. This will be accomplished througha transfer of 61 216 934 Aker Seafoods shares (72.32 percent of company shares)from the fund to Aker. The per-share price is NOK 6.50, which corresponds to thecompany's listed share price. Further, the Fausken Invest-owned company ConvertoCapital Management will acquire 1 076 320 Aker Seafoods shares (1.27 percent ofcompany stock) from Converto Capital Fund at a per-share price of NOK 6.50.

The transactions are subject to approval by Norway's Ministry of Fisheries andCoastal Affairs. Pursuant to section 6-2 (3) of Norway's Securities Trading Act,the Oslo Stock Exchange has granted an exemption from the mandatory extension ofan offer to all Aker Seafoods shareholders as to the share transfer to Aker ASA.

Aker has entered into an agreement with Converto Capital Management to act asinvestment advisor for Aker's ownership interest in Aker Seafoods. The two-yearagreement features an option that entitles Aker to extend the agreement for twoone-year periods. In addition, Converto Capital Management will continue toserve as an investment advisor to Converto Capital Fund. The fund's maininvestments are Norway Seafoods, Bokn Invest, Ocean Harvest, Aker PhiladelphiaShipyard, and American Shipping Company shares.

Aker's sale of its 90-percent shareholding in Converto Capital Management willgenerate a NOK 3 million accounting gain.

For further information, please contact:Atle Kigen, Head of Corporate Communication, Aker ASA, tel: +47 907 84 878

This information is subject of the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Aker ASA via Thomson Reuters ONE