AKER COMPLETES DIVESTITURE OF AKER YARDS SHAREHOLDING

Aker`s 40.1 percent ownership interest in Aker Yards has been sold mainly to non-Norwegian investors. Following the share sale, Aker no longer holds any shares in Europe`s largest shipbuilding group.

- We are satisfied with the sales price we achieved. Aker Yards` share price has increased five-fold over the past three years, says Leif-Arne Langøy, Aker`s Chairman & CEO and Chairman of Aker Yards.

The per-share price at which Aker Yards stock was sold is NOK 40 above the NOK 460 per share that Aker received for its more limited divestiture on 19 January 2007. The premium corresponds to 8.7 percent. During the same time span, share prices on the Oslo Stock Exchange declined by 2 percent.

- The share divestiture was completed quickly and properly, and investors welcomed the opportunity to become Aker Yards shareholders. The new shareholders are predominantly long-term financial investors, says Leif-Arne Langøy.

The per-share price of NOK 500 for Aker Yards stock was determined in a bookbuilt offering managed by JPMorgan and SEB Enskilda.

Divestiture of the Aker Yards shareholding generates an accounting gain for Aker ASA of NOK 2.9 billion. Aker`s dividend policy remains unchanged. Leif-Arne Langøy will step down as Aker Yards` Chairman at the company`s 29 March 2007 annual shareholders` meeting.

- The share sale frees up both managerial capacity and financial resources that can be applied to other Aker companies, targeting new businesses, and long-term industrial development, says Leif-Arne Langøy.

For further information, please contact:Geir Arne Drangeid, Group EVP, Aker ASA, tel: +47 913 10 458

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