Philly Shipyard - Board/Management Information 2015

Aker Philadelphia Shipyard: Management change

Aker Philadelphia Shipyard ASA (Oslo: AKPS) announced today that its Chief

Financial Officer, Jeffrey Theisen, is resigning from his position later this

month to pursue other career opportunities outside of shipbuilding and shipping.

Art Whittemore, who was previously CFO of Gamesa USA, a manufacturer of wind

turbines, is currently serving as interim CFO of AKPS to ensure a smooth

transition while a permanent successor is identified.

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Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing

vessels for operation in the Jones Act market. It possesses a state-of-the-art

shipbuilding facility and has earned a reputation as the preferred provider of

oceangoing merchant vessels with a track record of delivering quality ships.

Aker Philadelphia Shipyard is listed on the Oslo Stock Exchange and is majority-

owned by Converto Capital Fund, which in turn is majority-owned by Aker ASA.

Aker is a Norwegian industrial investment company that creates value through

active ownership. Aker's investment portfolio is concentrated on key Norwegian

industries that are international in scope: oil and gas, fisheries and

biotechnology, and marine assets. Aker's industrial holdings comprise ownership

interests in Aker Solutions, Kvaerner, Det norske oljeselskap, Aker BioMarine,

Ocean Yield, Havfisk and Akastor.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1925910]

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