Aker ASA: Sale of two product tankers from Aker Philadelphia Shipyard

Aker Philadelphia Shipyard ASA (AKPS) has today announced the agreement to selltwo product tankers, vessel 17 and 18, to a subsidiary of Crowley PetroleumServices, Inc.

As previously communicated, Aker ASA has provided guarantees and USD 30 millionof construction financing towards the project. The loan will be repaid in fullupon delivery of vessel 18, expected in February 2013 and Aker's guarantees willterminate in two tranches on delivery of each vessel.

The company anticipates that the transaction will result in cumulative gains inexcess of USD 25 million, recognized as each vessel is delivered, with thepotential for future additional income based on a variable component of thepurchase price.

Please see separate release of even date from Aker Philadelphia Shipyard ASA forfurther details regarding the transaction.

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