AKER SELLS ABAS CRANE AND AKER BRATTVAAG WINCH

`The ownership transfer is a good solution for two industrial companies that possess strong niche positions in worldwide maritime growth markets,` says Leif-Arne Langøy, Aker`s Chairman and CEO. `Working with employees of ABAS Crane and Aker Brattvaag Winch, we have contributed to building and improving the two companies over a period of several years. Now, ODIM is the ideal owner to further develop ABAS Crane and Aker Brattvaag Winch.`

Jogeir Romestrand, President and CEO of ODIM states that the two acquired companies will add key expertise and capacity to ODIM. `The acquisition will immediately strengthen ODIM as a total solution provider for several of our market segments,` Mr. Romestrand comments.

ABAS Crane, located at Aukra on Norway`s west coast, designs and delivers specialized cranes and lifting gear for ships and offshore installations. Aker Brattvaag Winch, located at Søvik, near Ålesund, builds high-quality, frequency-controlled AC-powered winches for trawlers, supply vessels, and several industrial applications. Both companies conduct design, product development, sales, and installation activities using in-house staff. Production, though, is outsourced to various subcontractors in the Czech Republic (ABAS Crane) and Romania (Aker Brattvaag Winch).

ODIM is a leading supplier of integrated, automated handling solutions delivered to select niches within international offshore and marine markets. Aker is the largest ODIM shareholder, holding 36.5 percent of the shares. ODIM is listed on the Oslo Stock Exchange.

`Møre og Romsdal county has a cluster of Norwegian maritime industry companies that are expanding and growing stronger in the international marketplace. ODIM is a company with state-of-the-art expertise and the drive to keep growing,` says Langøy.

Aker`s wholly owned subsidiary, Aker Capital, is selling ABAS Crane and Aker Brattvaag Winch to ODIM for a total of NOK 80 million.

Because the two companies will be purchased by ODIM from a closely related party, the acquisitions must be approved by an ODIM extraordinary shareholders` meeting. An independent auditor will be hired by ODIM to confirm that the value of the companies to be purchased is equal to or greater than the agreed purchase price.

The acquisitions are also subject to approval by the Norwegian Competition Authority. The transactions are expected to be completed in the second half of November.

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