HISTORIC AKER HOLDING AGREEMENT COMPLETED

As stipulated in the agreement entered into on 22 June 2007, Aker has transferred its ownership interest in Aker Kværner to the newly established company Aker Holding. Aker has a controlling, 60-percent ownership interest in Aker Holding. The Norwegian government owns 30 percent of Aker Holding shares, the Swedish technology company SAAB has a 7.5 percent shareholding, and the Swedish investment company Investor AB owns 2.5 percent of Aker Holding shares.

- The agreement now formally implemented is truly historic. It recognizes the importance of Aker Kværner`s employees, technologies, competence, and innovative drive - and provides long-term ownership of the Aker Kværner Group, says Leif-Arne Langøy, Aker`s Board Chairman and CEO. Mr. Langøy is also the Board Chairman of Aker Kværner.

Aker Holding`s owners will continue the established, close industrial cooperation between Aker Kværner and other Aker companies. The owners of Aker Holding will also actively pursue and support the development of new commercial opportunities among companies in the Aker Group, SAAB, and Investor, provided such prospective ventures do not conflict with the interests of Aker Holding shareholders.

- Generating new business opportunities and co-launching Norwegian-Swedish industrial projects are key ambitions of shared ownership of Aker Kværner. Implementation will accelerate our quest for strategic projects and new businesses, says Langøy.

At an extraordinary shareholders` meeting yesterday, the following were elected Aker Holding board members: Leif-Arne Langøy (Board Chairman), Bengt A. Rem, Kristin Krohn Devold, Berit Kjøll, and Dan-Åke Enstedt.

All transactions associated with the agreement on the establishment of Aker Holding were completed yesterday, Thursday 20 December 2007.