Aker ASA: Share buyback program

The board of Aker ASA (''Aker'') has decided to initiate a share buyback program for up to 175,000 own shares in the market.

The buyback program will be conducted in accordance with the authorization provided by the annual general meeting to the board of directors on April 14(th) 2011. The buyback will be executed according to the market price on the Oslo Stock Exchange.

The program will be initiated today and terminated on February 29(th) 2012 at the latest. Aker has entered into an agreement with Arctic Securities ASA to execute the repurchasing of the shares on behalf of the company and within the framework set by Aker with regards to amount, price and timeframe. The number of shares that can be purchased per day will be limited to no more than 25 percent of the average daily trading volume of the share in December 2011.

The shares purchased under this program will be used as settlement shares in the agreed merger between Aker's fully owned subsidiary Aker Floating Holding AS and Aker Floating Production ASA, as well as for Aker's stock- and incentive program for own employees.

Any buyback transaction will be disclosed to the Oslo Stock Exchange and on Aker's website www.akerasa.com.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)