Successful placement of new bond

Reference is made to the notification sent on 24 January 2011 regarding a

potential new bond issue by Aker Drilling ASA.

The senior unsecured bond issue of NOK 1,500 million with expected maturity date

on 24 February 2016 has now been successfully completed. The offering was

substantially oversubscribed.

Settlement date is expected to be 24 February 2011. An application will be made

for the bond to be listed on Oslo Børs. As previously announced, the proceeds

will be used to refinance the outstanding bond issue AKD02 PRO with ISIN

NO001057171.4, repay existing subordinated loans to Aker ASA and for general

corporate purposes. As a part of the offering, Aker Drilling ASA has repurchased

NOK 1,084,000,000.- of AKD02 PRO with maturity 30 April 2013. The bond issuance

and the buy-back are subject to USD 600 million in new equity or through a

combination of additional equity and subordinated capital and approximately USD

900 million in a bank loan.

DnB NOR Markets, Nordea Markets, Pareto Securities and SEB Merchant Banking have

acted as arrangers of the bond issue.

Company contacts:

Geir Sjøberg, Aker Drilling ASA, tel +47 90 78 30 83

Iain Inglis, Aker Drilling ASA, tel +47 92 09 35 91

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

(Norwegian Securities Trading Act)

[HUG#1483584]

AI assistant