Aker — Share Issue/Capital Change 2014

Jul 17, 2014

Aker ASA: Primary Insider Notice

Aker ASA: Primary Insider Notice

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE

UNLAWFUL

Reference is made to the on-going rights issue in Det norske oljeselskap ASA

(the "Company") (the "Rights Issue").

Aker Capital AS is a primary insider in the Company and currently holds

70 339 610 shares in the Company. Today Aker Capital AS has exercised its

subscription rights for 30 949 428 new shares in the Rights Issue, equalling the

number of subscription rights granted to Aker Capital AS in its capacity as

shareholder in the Company.

Following the allocation of the new shares in the Rights Issue and registration

of the new shares with the Norwegian Register of Business Enterprises, Aker

Capital AS will hold 101 289 038 shares in the Company, equalling an unchanged

ownership of 49.99% of the total shares in the Company.

***

This announcement is not for publication or distribution, directly or

indirectly, in the United States (including its territories and possessions, any

state of the United States and the District of Columbia). This announcement does

not constitute or form part of any offer or solicitation to purchase or

subscribe for securities in the United States. Securities may not be offered or

sold in the United States absent registration or an exemption from registration.

The securities referred to herein have not been and will not be registered under

the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or with

any securities regulatory authority of any state or other jurisdiction of the

United States, and may not be offered or sold in the United States or to, or for

the account of, U.S. persons (as such term is defined in Regulation S under the

U.S. Securities Act), except pursuant to an effective registration statement

under, or an exemption from the registration requirements of, the U.S.

Securities Act. All offers and sales outside the United States will be made in

reliance on Regulation S under the U.S. Securities Act. No public offering of

securities is being made in the United States.

About Det norske:

Det norske oljeselskap ASA (DETNOR) is an active company on the Norwegian

Continental Shelf. The Company's headquarters is in Trondheim. The Company also

has offices in Oslo and Harstad. The Company is listed on the Oslo Stock

Exchange with the ticker "DETNOR". More about Det norske at www.detnor.no/en/

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.

[HUG#1829153]