Philly Shipyard - Board/Management Information 2014

Aker Philadelphia Shipyard : New Managing Director

Reference is made to the stock exchange notice of Aker Philadelphia Shipyard ASA

(Oslo: AKPS) (the "Company") dated 19 March 2014 regarding the appointment of

the Company's new Managing Director.

The Company's Board of Directors has today formally appointed Steinar Nerbøvik

as Managing Director. Mr. Nerbøvik was formerly Senior Vice President of

Operations of Aker Philadelphia Shipyard, Inc., the Company's wholly-owned

subsidiary ("APSI"), and assumes the position of Managing Director of both the

Company and APSI.

Steinar Nerbøvik (b. 1961) was appointed SVP of Operations in 2013. Prior to

this, Mr. Nerbøvik served as SVP Yard Director for Norwegian Shipyard VARD

Langsten (former Aker Yards and STX OSV Langsten), a leading provider of

sophisticated offshore support vessels. Mr. Nerbøvik first joined Aker

Philadelphia Shipyard in 2003 as Vice President Projects. Mr. Nerbøvik has held

other management positions as combined Design Manager and Project Manager at

Aker Langsten from 1991- 2003. Mr. Nerbøvik holds a Master of Science in Ship

Naval Engineering from the Norwegian Institute of Technology (NTNU) in

Trondheim. Mr. Nerbøvik lives in Philadelphia, PA, USA. Mr. Nerbøvik is a

Norwegian citizen. As of 1 February 2014, Mr. Nerbøvik holds 1,000 shares in the

company and has no stock options.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1776003]

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