Philly Shipyard — Capital/Financing Update 2014

Aug 13, 2014

AKPS investigates additional debt financing sources

AKPS investigates additional debt financing sources

Aker Philadelphia Shipyard ASA (the "Company") has decided to investigate

various possibilities for debt financing in the international capital markets as

additional financing sources for up to 100 mUSD. The Company believes that the

current market conditions provide an opportunity to diversify its sources of

funding at attractive terms, which will further strengthen the Company's balance

sheet. The company has retained financial advisors.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1848617]