IMPROVEMENT CONTINUES

The book value of the Group`s investments was NOK 8.1 billion. The market value of its listed investments alone exceeded NOK 17 billion as of 2 November 2005. Aker Drilling, Aker House (Aker Hus) and other non-listed assets are not included in the latter figure.

The holding companies of the Aker Group had NOK 1.7 billion in cash and short-term interest-bearing assets as of 30 September 2005; the equity ratio was 69 percent. Net interest-bearing items were in the black by NOK 203 million.

Operations of the main companies in the Aker Group have developed favorably. The Aker Group`s total profit before financial expenses and depreciation (EBITDA) for the first nine months of 2005 amounted to NOK 2.2 billion. The strong order backlog provides a sound basis for continued earnings improvement.

Enclosed please find the 3Q 2005 report.