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 theoutstanding convertible bond with ticker AKX01. The conversion price is NOK79.30 and Aker Capital AS will through the conversion receive 1 303 909 newshares. The shares are expected to be issued on 16 December 2011.

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

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