Aker ASA : Conversion of bonds - mandatory notification of trade

Aker Capital AS, the majority shareholder of Det norske oljeselskap ASA ("DETNOR"), has today notified the conversion of NOK 103.4 million in the outstanding convertible bond with ticker AKX01. The conversion price is NOK 79.30 and Aker Capital AS will through the conversion receive 1 303 909 new shares. The shares are expected to be issued on 16 December 2011.

Following the conversion, Aker Capital AS will hold in total 64 992 467 shares in DETNOR. Aker Capital AS is a wholly owned subsidiary of Aker ASA.

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