Philly Shipyard — Major Shareholding Notification 2014

Jan 9, 2014

AKER PHILADELPHIA SHIPYARD ASA (AKPS) - DISCLOSURE OF SHAREHOLDINGS

AKER PHILADELPHIA SHIPYARD ASA (AKPS) - DISCLOSURE OF SHAREHOLDINGS

On 8 January 2014, funds managed by QVT Financial LP

("QVT") sold 1,204,647 shares in Aker Philadelphia

Shipyard ASA, and accordingly, QVT crossed below the

10% and 5% thresholds.

Following the sale, QVT no longer owns any shares or

rights to shares in Aker Philadelphia Shipyard ASA.

For further information, please contact Meg Eisner of

QVT Financial LP at

+1 (212) 705-6229.