Aker ASA Third quarter results 2012: Strong value growth

The Net Asset Value of Aker ASA and its holding companies (Aker) was NOK 23.3billion as of 30 September 2012, compared to NOK 20.1 billion as of 30 June2012 and NOK 19.4 billion as of 31 December 2011.

"This quarter Aker delivered the highest net asset value since I joined thecompany in January 2009,'' Aker's President and CEO Øyvind Eriksen said.  "Akerboasts solid cash holdings of NOK 4.3 billion and our value-adjusted equityratio remains high, at 85 per cent. Our Industrial Holdings reported goodquarterly performance, contributing to Aker's 16 per cent increase in net assetvalue in the period."

The value of Aker's Industrial Holdings portfolio stood at NOK 19.7 billion as of the close of the third quarter, compared to NOK 16.4 billion in the second quarter. This was led by a value increase in Aker Solutions and Det norske, by NOK 1.9 billion and NOK 1.0 billion respectively.

Aker's Financial investments portfolio amounted to NOK 7.7 billion as of 30September 2012, up from NOK 6.7 billion as of 30 June 2012. Fund Investments accounted for NOK 1.5 billion, compared with NOK 1.3 billion in the second quarter. Loans to subsidiaries fell to NOK 1.1 billion, following the repayment of NOK 220 million in loans from Aker's real estate investment vehicle Fornebuporten.

Cash rose NOK 1.0 billion in the third quarter, due to the issue of a NOK 1.0billion bond with 10-year maturity in September.

Aker's risk exposure was substantially reduced after Aker Philadelphia in August sold two product tankers built without contract. Aker's USD 30 million loan to the yard will be repaid upon delivery of the second vessel in February 2013 and the performance guarantee will expire at this time.

"Aker's strong balance sheet gives us financial flexibility and ensures that we have the resources to support the growth of our portfolio companies such as Det norske," Eriksen said.

The full report and presentation can be downloaded from www.akerasa.com.

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For further information, please contact: Media: Atle Kigen, Head of Corporate Communications Phone:   +47 24 13 00 08 Mobile: +47 907 84 878

Investors:Marianne Stigset, Investor Relations Manager Phone:   +47 24 13 00 66 Mobile: +47 41 18 84 82

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

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