New course for Aker

Aker ASA is focusing and simplifying the organization of its businessactivities. The company's several operational companies will beorganized into either Industrial Holdings or Financial Holdings.Executive talent is being added to Aker's management to assure a fullcomplement of resources.

Aker ASA is an active industrial ownership company. Theorganizational modifications are being implemented to make Aker amore clearly defined - and an even more demanding - owner of itsindependent, operational companies. The purpose is to reinforce AkerASA's role as a strategic and financial driver of its businessenterprises.

- Our agenda is to create and visualize value through long-termdevelopment of solid businesses. We are sharpening Aker'scapabilities in order to optimally advance each business, says AkerPresident and CEO Øyvind Eriksen. Aker's new organizational modelwill be introduced stepwise, and will be completely implemented as of1 July 2009.

Industrial HoldingsAker's Industrial Holdings encompass its ownership interests in AkerSolutions, Aker Drilling, Aker Exploration, and Aker Ghana (oil andgas), Aker Clean Carbon, and Aker BioMarine.

- Aker will be a driver in the long-term development of theseindustrial companies, working closely with their boards of directorsand management. For each of the companies, Aker ASA will have asingle, key executive whose task is to assure ongoing development ofthat industrial asset, Øyvind Eriksen says.

Aker Board Chairman Kjell Inge Røkke and CEO Øyvind Eriiksen will beactively involved in the development of Aker's industrial companies.- Our working methods will make Aker ASA an even more effectivestrategic driver, building robust, value-adding companies, Mr.Eriksen says.

Financial HoldingsAker's Financial Holdings comprises Portfolio Investments incompanies such as Aker Floating Production, Aker Ocean Harvest, AkerPhiladelphia Shipyard, Aker Seafoods, American Shipping Company, andBjørge.

- We intend to drive development of the companies in our PortfolioInvestments and enhance shareholder value through restructuring orfor example other measures. In the past, Aker has demonstrated itsability to develop companies through acquisitions, sales of ownershipinterests, mergers, and other transactions. We will apply thesecapabilities to accelerate the rate of development of portfoliocompanies, says Eriksen.

Aker's Financial Holdings includes the asset management company AkerAsset Management.

Aker ASA and its wholly owned holding companies had total assets ofNOK 20.7 billion as of 1 January 2009. The NOK 20.7 billion figure isdistributed as follows: Financial Holdings amounted to 8 percent.Industrial Holdings amounted to 29 percent. Treasury (cash, cashequivalents, and net interest-bearing receivables) amounted to 54percent. Other assets constituted nine percent of total assets.

Strengthening the organizationUnder the new organizational model, Aker ASA will no longer maintaina traditional Group management structure. An Investment Manager willbe in charge of each of the companies in Aker's Industrial Holdings.A separate team of managers will be established for companies inAker's Portfolio Investments. Aker's Treasury unit will also bestrengthened. However, Aker's finance and staff support functionswill not be significantly modified as part of the restructuring.

- Not all personnel deployment details have been finalized, but onething is certain: No member of the current team will becomeunemployed, says President and CEO Eriksen.

Among the responsibilities awaiting talented managers, Mr. Eriksenpoints out, are the many promising companies in Aker ASA's currentportfolio along with the new opportunities emerging as a result oftoday's turbulent financial markets. According to Eriksen, Aker'sstrong industrial and financial position, allows the company toparticipate in significant industrial innovations, for examplethrough transactions, industrial partnerships, or alliances.

- Staffing the newly created Investment Manager positions has beenour priority thus far, Eriksen notes. - An experienced manager willreturn to Aker to help run our Portfolio Investments.

Liv Monica Bargem Stubholt will join Aker ASA as an InvestmentManager. She has been a state secretary for the past four years,serving first at the Norwegian Ministry of Foreign Affairs, and as of2007 at the Ministry of Petroleum and Energy. At Aker, she will be incharge of the Aker Clean Carbon industrial engagement. Ms. Stubholtwill assume her responsibilities at Aker ASA in the third quarter of2009, following the employment quarantine period that applies tostate secretaries.

Other Investment Managers are Øistein Widding (in charge of AkerSolutions), Maria Moræus Hanssen (in charge of Exploration &Production, including Aker Exploration and Aker Ghana), and Ola Snøve(in charge of Aker BioMarine). The three are currently Aker ASAemployees. The Aker Drilling Investment Manager will be appointed ata later date.

Frank Reite will work on Aker's Portfolio Investments; he will joinAker after the Easter holiday. Frank Reite was elected as the newBoard Chairman of Aker Seafoods by the company's annual shareholders'meeting. Mr. Reite has held executive positions at Aker from 1995 to2004. He subsequently headed the Glitnir Group in Norway and was anoperating director at Paine & Partners in New York.

Executive Vice Presidents Bengt A. Rem, Karl Erik Kjelstad, MartinusBrandal, Trine Sæther Romuld, and Geir Arne Drangeid, all of whom arepart of the current management team, will continue at Aker. Group EVPNils Are Karstad Lysø has opted to seek new professional challengesoutside of Aker. He has been a key aide to CEO Eriksen regardingdevelopment and implementation of a new Aker ASA organizationalmodel; he will not leave the company until some time in the secondhalf of 2009.

For further information, please contact:Geir Arne Drangeid, Senior Partner & SVP, Aker ASA, tel: +47 913 10458

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.