AMSC ASA - Director's Dealing 2016

American Shipping Company ASA: Primary insider notification

Aker ASA ("Aker") has through its wholly-owned subsidiary Aker Capital II AS

today entered into a TRS agreement with DNB Markets, part of DNB Bank ASA,

giving financial exposure to 5,500,000 underlying shares in American Shipping

Company ASA ("AMSC"), equal to 9.07 per cent of the share capital of AMSC. The

expiry date of the TRS agreement has been set to 21 November 2016. The swap

price for the contract is NOK 26.5005 per share.

In addition to the financial exposure provided by the abovementioned swap

agreement, Aker has through Aker Capital II AS, financial exposure to 9,182,520

underlying shares in AMSC, equal to 15.15 per cent of the share capital in AMSC

through a second 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

third TRS agreement.

Through Aker Capital II AS, Aker also holds 11,557,022 shares in AMSC, equalling

19.07 per cent of the shares and votes of AMSC.

***

The information contained herein is subject to the disclosure requirements of

section 4-2 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1977852]

AI assistant