Akastor — M&A Activity 2011

Feb 1, 2011

Aker Solutions completes sale of its principal Process and Construction businesses to Jacobs Engineering Group

1 February 2011 - Aker Solutions has on 1 February 2011 completed the sale of

the principal operations within its Process and Construction business area to

Jacobs Engineering Group Inc. (Jacobs). As disclosed on 22 December 2010, the

transaction does not include the US EPC centre in Houston, and the Union

Construction business located in the US and Canada, which will all be part of

the new Aker Contractors company. Aker Solutions retains Aker Projects

(Shanghai) Company Limited until such time as the requisite regulatory

clearances in China have been obtained.

The final transaction value will be based on the balance sheet as of the closing

date. Aker Solutions confirms the estimates given in the announcement on 22

December 2010. The purchase price as determined prior to any adjustments based

on the closing date balance sheet has been paid in cash, of which USD 30 million

to an escrow account pending China regulatory clearance for the sale of Aker

Projects (Shanghai) Company Limited to Jacobs.

Øyvind Eriksen, executive chairman, Aker Solutions said: "The prompt completion

of this transaction and its positive financial effect, support our strategy to

further concentrate Aker Solutions' capability as a strong and dedicated

provider of engineering, technologies, solutions and services for the upstream

oil and gas industry. This is a very good outcome for all parties."

With the sale of these businesses to Jacobs and the transfer of the Union

Construction and EPC Centre US operations to the new Aker Contractors company,

Aker Solutions' P&C business area has now been dissolved.

ENDS

For further information, please contact:

Aker Solutions

Media:

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

+47 67 51 30 36, Mob: +47 913 10 458

Investor relations:

Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,

Mob: +47 911 37 194

Jacobs

John W. Prosser, Jr. EVP Finance and Administration, Jacobs. Tel:

+1 626 578 6803

Career opportunities:

Visithttp://www.akersolutions.com/Internet/CareerCentre

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

is a leading global oil services company that provides engineering and

construction services, technologies, product solutions and field-life solutions

for the upstream oil and gas industry. 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 50 billion and employs

approximately 19 500 people in about 26 countries.

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

subject to our disclaimer, see www.akersolutions.com.

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