Aker - Capital/Financing Update 2015

Aker ASA: Internal restructuring of equity holdings

Aker ASA ("Aker") has on 30 September 2015 transferred its equity holdings in

Converto Capital Fund AS and Havfisk ASA to Aker Capital AS, a wholly-owned

subsidiary of Aker. Converto Capital Fund AS includes shareholdings in the

publicly-listed companies Aker Philadelphia Shipyard ASA and American Shipping

Company ASA ("AMSC").

The purpose of the restructuring is to streamline and simplify Aker's holding

structure. As this is an internal restructuring within Aker ASA and holding

companies, it will have no effect on the Aker ASA and holding companies'

financial accounts.

As per 30 September 2015, Aker directly held 62,001,793 of the issued shares and

votes in Havfisk ASA, or 73.25 per cent of the share capital. Through Converto

Capital Fund AS, Aker held 7,237,631 of the issued shares and votes in Aker

Philadelphia Shipyard ASA, or 57.56 per cent of the share capital; and

11,557,022 of the issued shares and votes in AMSC, or 19.07 per cent of the

share capital. Also through Converto Capital Fund AS, Aker had financial

exposure to 9,182,520 underlying shares in AMSC, equal to 15.15 per cent of the

share capital in AMSC, through a TRS agreement; and financial exposure to

4,005,100 underlying shares in AMSC, equal to 6.61 per cent of the share capital

of AMSC, through a second TRS agreement.

Oslo Stock Exchange has on 30 September 2015, pursuant to section 6-2 (3) of the

Securities Trading Act, granted an exemption from the mandatory offer obligation

with respect to Aker Capital AS' acquisition of shares in Havfisk ASA. The

transfer of the shares in Havfisk ASA to Aker Capital AS received the approval

of the Ministry of Trade, Industry and Fisheries on 29 September 2015.

END

For further information, please contact:

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1955930]

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