Aker ASA: Share buyback program

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

The buyback program will be conducted in accordance with the authorizationprovided by the annual general meeting to the board of directors on April14(th) 2011. The buyback will be executed according to the market price on theOslo Stock Exchange.

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

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

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

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