Philly Shipyard - Share Issue/Capital Change 2014

Aker Philadelphia Shipyard : New Share Capital Registered; Commencement of Trading in New Shares

Reference is made to the announcement by Aker Philadelphia Shipyard ASA (Trading

symbol: AKPS) (the "Company") in respect of the subsequent offering (the

"Subsequent Offering") for up to 337,000 new shares in the Company, where there

were exercised subscription rights for 159,461 new shares in the Company.

The share capital increase pertaining to the new shares issued through the

Subsequent Offering was today registered with the Norwegian Registry of Business

Enterprises (Nw. Foretaksregisteret). After the registration, the registered

share capital of the Company is NOK 125,747,660 comprising of 12,574,766 shares

each with a par value of NOK 10.00.

The new shares issued through the Subsequent Offering will be registered with

the VPS under NO 0010395577 and be traded on Oslo Axess under the Company's

trading symbol "AKPS". Such trading of the new shares will commence on March

27, 2014.

Pareto Securities has acted as sole lead manager in the Subsequent Offering.

***

The information contained herein is subject to the disclosure requirements of

section 4-2 of the Norwegian Securities Trading Act.

[HUG#1772007]

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