Philly Shipyard - Share Issue/Capital Change 2014

Aker Philadelphia Shipyard correction: ISIN number

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

symbol: AKPS) (the "Company") on 14 February 2014 in respect of the registration

of the share capital increase under the private placement of a total of

2,250,000 new shares for gross proceeds of NOK 371 million, or approximately USD

60 million.

The stock exchange notice did not refer to the correct ISIN number of AKPS,

which is ISIN NO 001 0395577.

The new shares issued in the share capital increase have been delivered to

Converto Capital Fund AS as return of borrowed shares and are registered on a

separate non-tradable ISIN with the VPS under ISIN NO 001 0704174 in

anticipation of the approval of a listing prospectus. The Company expects the

prospectus to be approved in the beginning of March, upon which time the new

shares will be assumed on the ordinary ISIN of the Company's shares, NO

001 0395577, and be tradable on Oslo Axess under the Company's trading symbol

"AKPS".

Following the registration of the share capital increase on 14 February 2014,

the share capital of AKPS is NOK 124,153,050 comprising of 12,415,305 shares,

each with a par value of NOK 10.00.

***

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1762639]

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