Aker — Net Asset Value 2014

May 15, 2014

Aker ASA: First-quarter results 2014 - Net Asset Value of NOK 22.9 billion

Aker ASA: First-quarter results 2014 - Net Asset Value of NOK 22.9 billion

The net asset value of Aker ASA and holding companies (Aker) fell 4.6 per cent

in the quarter to NOK 22.9 billion. Per-share net asset value (NAV) amounted to

NOK 317 as of 31 March 2014, before allocated dividend, compared to NOK 332 as

per 31 December 2013.

"2014 is revealing itself to be a transformational year for Aker," said Aker

President and CEO Øyvind Eriksen. "The first indication of this came on 30 April

with the announcement of the split of Aker Solutions. Aker's largest and most

valuable investment took a major step towards dealing with its structural

complexities, reducing costs and enhancing competitiveness. Next in line is Det

norske, Aker's second-biggest investment, for which robust financing strategies

are being explored. Add to this list the divestment of assets from the Financial

Investments portfolio and a possible U.S. listing of Aker BioMarine, and you'll

see some of the value potential in Aker going forward."

Cash holdings rose by NOK 1.1 billion to NOK 3.5 billion in the first quarter,

primarily due to the issuing of a SEK 1.5 billion bond in January that resulted

in net proceeds of NOK 1.4 billion. Aker received NOK 71 million in dividend

payments from Ocean Yield in the quarter.

The value of Aker's Industrial Holdings portfolio fell to NOK 20.1 billion in

the quarter, from NOK 21.6 billion as of 31 December 2013. Aker's Financial

Investments portfolio amounted to NOK 9.9 billion, compared to NOK 8.1 billion

as per year-end 2013.

The value-adjusted equity ratio was 76 per cent, down from 81 per cent as per

year-end 2013, prior to the distribution of dividend.

The Aker share declined 13 per cent during the first quarter to NOK 193.5,

compared to a 2.4 per cent gain in the Oslo Stock Exchange's benchmark index

(OSEBX).

The income statement for Aker ASA and holding companies shows a pre-tax loss of

NOK 403 million for the first quarter, compared to a NOK 43 million loss in the

prior quarter.

On 11 April, Aker's Annual General Meeting approved the proposed payment of NOK

13 per share ordinary dividend for 2013, which represents 3.9 per cent of NAV as

per year-end 2013. In total, NOK 940 million was distributed on 25 April.

The full report and presentation can be downloaded from www.akerasa.com.

END

Net asset value (NAV) is Aker ASA's core performance indicator. Aker is an

investment company with a majority of listed companies in its portfolio.

Therefore, NAV is a more relevant indicator of the development of Aker's

underlying value than the company's consolidated accounts.

For further information, please contact:

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1785568]