Aker ASA to increase its Aker Solutions ASA ownership

Today, Saab AB and Investor AB notified Aker ASA that they will exercise theiroption to sell the two companies' combined ten-percent ownership interest inAker Kværner Holding AS (formerly Aker Holding AS) to Aker ASA. As aconsequence, Aker ASA's indirect ownership of Aker Solutions ASA and Kværner ASAshares will increase from 24 percent to 28 percent.

"This development is as expected and something we have been planning for.Working alongside the Norwegian government - through Aker Kværner Holding - Akerwill promote the continued development of Aker Solutions and Kværner as twoleading, focused exchange-listed companies. We have great faith in AkerSolutions and Kværner as excellent, long-term investments for Aker and ourfellow shareholders," says Aker ASA's President and CEO Øyvind Eriksen.

Aker Kværner Holding owns 40.3 percent of Aker Solutions shares, and will havethe same ownership interest in Kværner once this company is spun off from AkerSolutions and listed on the Oslo Stock Exchange on 8 July 2011.

Saab and Investor will sell their ownership interest in Aker Kværner Holding toAker; the transaction settlement date is 30 June 2011. The aforementioned 10-percent stake in Aker Kværner Holding corresponds to 11 033 361 Aker Solutionsshares. The per-share price is determined by the put/call agreements of22 June 2007; as previously announced, the per-share Aker Solutions exerciseprice as of 30 June 2011 is corresponding to NOK 160.16. The NOK 1 767 millionpurchase will be funded from Aker's available cash, which amounted to NOK 4.8billion as of the close of the first quarter of 2011.

Following the transaction discussed above, Aker's ownership interest in AkerKværner Holding will increase from 60 percent to 70 percent. The Norwegiangovernment, through the Ministry of Trade and Industry, owns the remaining 30percent of Aker Kværner Holding shares.

For further information, please contact:Atle Kigen, Head of Communications, Aker ASA. Tel: +47 24 13 00 08 or +47 90 78 48 78

This information is subject of the disclosure requirements pursuant to section5-12 of the 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