AKER ORDERS SIX ANCHOR-HANDLING VESSELS (AHTS)

- Working with Aker Yards, we will create something new in Southeast Asia, a major growth market for offshore vessels, says Leif-Arne Langøy, Aker`s Chairman and CEO.

Langøy describes Aker`s business strategy: -Aker Yards is a world leader in the building of advanced offshore vessels. The new offshore shipowning company that we are establishing will have an experienced partner run its technical and commercial operations.

The six AHTS vessels are specially designed to perform anchor-handling, towing and supply services that are vital to offshore oil and gas operations. The vessels, which will be built by Aker Yards in Vietnam, will meet extremely strict environmental standards to limit emissions to air and water.

The contract value of the AHTS newbuilding series is approximately NOK 1.5 billion. Aker also holds an option to build an additional six vessels at Aker Yards` modern shipyard, currently under construction in Vung Tau, located in the core of the region`s rapidly growing offshore industry. Construction of Aker Yards` Vung Tau shipyard will be completed in 2008.

Delivery of the first of Aker`s AHTS vessel is scheduled for early 2010, although an earlier delivery is feasible. The last vessel in the series of six AHTS newbuildings is scheduled for delivery in 2012.

The six anchor-handling (AHTS) vessels are of the AH08 Aker Yards design. The towing power (Bollard Pull) of the vessels is approximately 145 metric tons; their main engines are rated at about 12,000 BHP. The AHTS vessels will conform to the strictest environmental standards, Det norske Veritas` Clean Class.

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