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Aker ASA: Ocean Yield AS signs contracts for two newbuilding PCTCs and enters into 12-year bareboat charters with Höegh Autoliners

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Ocean Yield AS, a 100 per cent owned subsidiary of Aker ASA, has entered intonewbuilding contracts for two Pure Car Truck Carriers (PCTC) of 6 500 carcapacity with Daewoo Shipbuilding & Marine Engineering's ("DSME"). The vesselswill be built at DSME's shipyard in Mangalia, Romania.

The vessels will be delivered in April and August 2014 respectively, and willafter delivery be chartered on 12-year "hell and high water" bareboat chartercontracts to Höegh Autoliners ("HAL"). HAL owns and operates around 60 PCTCvessels (Pure Car and Truck Carriers) in a global trade system, and is regardedas one of the global leaders in deep sea car transportation.

HAL has previously taken delivery of a series of 10 PCTCs from DSME and the twocontracted new buildings will be built based on the same specifications, withrelevant updates. HAL will be responsible for the shipbuilding supervision, thetechnical management and crewing of the vessels after delivery. HAL will havecertain options to acquire the vessels during the bareboat charter period, withthe first option after five years.

Ocean Yield has secured long-term financing with banks for approximately 70 percent of the investment. The remaining amount will be funded with equity.

"We are very pleased to announce the contracting of two, state-of-the art,newbuilding PCTC vessels with long-term charters to Hoegh Autoliners," saidOcean Yield AS' Chief Executive Officer Lars Solbakken. "This transaction fullyreflects Ocean Yield's business strategy of adding high-quality vesselschartered on long-term contracts to leading and reputable counterparties to ourportfolio of vessels."

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For further information, please contact:Lars Solbakken, CEO of Ocean Yield ASPhone: +47 24 13 01 90

This information is subject of the disclosure requirements acc. to §5-12 vphl(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

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