Akastor — Earnings Release 2010

Oct 22, 2010

Third quarter results 2010: steady performance

Aker Solutions reported an EBITDA of NOK 880 million in third quarter 2010

compared with NOK 1 008 million in the same quarter last year. Order backlog at

the end of September 2010 was NOK 58.5 billion, up from NOK 56.4 billion one

year earlier

"The backlog stands at a satisfactory level. We have secured some very

significant new orders in the quarter. We have had growth in existing contracts,

and activity in front-end studies and concept engineering is high. All business

areas are busy tendering for new contracts, but we have experienced that some

contract awards have been delayed ", Executive Chairman Øyvind Eriksen says.

Last week Aker Solutions announced delays and additional costs on the Longview

coal fired power project in the US. As a consequence of this, the Process &

Construction (P&C) business area reported an EBITDA of negative 10 million in

the third quarter.

"In terms of operations and financial results, our performance is steady with

the exception of the unfortunate situation at Longview", Eriksen adds.

The executive chairman also comments that Aker Solutions is nearing completion

of a comprehensive strategy process and that the company has started to

implement changes in direction, structure and management.

"We will talk more about strategy later this year at our capital markets day

which we now have fixed for 9 December", Eriksen concludes.

More information

Aker Solutions' third quarter report can be downloaded from

www.akersolutions.com and the link below. A presentation will be held at our

headquarters at Fornebu and broadcast on the web at 09:00 this morning. Please

follow this link to watch the webcast:

http://cikmedia.serialive.com/no_cast.php?id=56443

For further information, please contact:

Investor relations: Lasse Torkildsen, SVP Investor Relations, Aker Solutions.

Tel: +47 67 51 30 39, Mob: +47 911 37 194;

Ingrid Aarsnes, VP Investor Relations, Aker Solutions, Tel: +47 22 94 63 37,

Mob: +47 950 38 364

Media: Geir Arne Drangeid, EVP Corporate Communications, Aker Solutions. Tel:

+47 67 51 30 36, Mob: +47 977 55 622

Career opportunities: visit http://www.akersolutions.com/CareerCentre

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"),

is a leading global provider of engineering and construction services,

technology products and integrated solutions. Aker Solutions' business serves

several industries, including oil & gas, refining & chemicals, mining & metals

and power generation. The Aker Solutions group is organised in a number of

separate legal entities. Aker Solutions is used as the common brand/trademark

for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has

aggregated annual revenues of approximately NOK 54 billion and employs

approximately 22 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies

with a focus on energy, maritime and marine resource industries. The Aker

companies share a common set of values and a long tradition of industrial

innovation. Through its majority-owned holding company Aker Holding AS, Aker

controls 40.27 percent of the shares in Aker Solutions, and takes an active role

in the development of the company.

This press release may include forward-looking information or statements and is

subject to our disclaimer, see our web-pages

www.akersolutions.com.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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