AKER FLOATING PRODUCTION ASA

The transaction is expected to be completed in April 2006.

Aker ASA`s subsequent ownership in Aker Floating Production ASA and the value of this stake will be determined in the private placement.

Aker Floating Production ASA also intends to seek a listing of its shares on the Oslo Stock Exchange first half 2006.

THIS PRESS RELEASE IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES DESCRIBED HEREIN.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (the `Securities Act`) AND may NOT BE OFFERED OR SOLD IN THE UNITED STATES unless registered under the Securities Act or PURSUANT TO AN APPLICABLE EXEMPTION FROM such REGISTRATION. There will be NO PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.