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Aker Yards ASA Aker Yards has signed a contract with DOF ASA for building of three Anchor Handling Tug Supply vessels (AHTS). All the vessels will be of Aker Yards' own design and equipped for operations in the Brazilian market. The three ships are scheduled for delivery at the end of 2010, mid 2011 and towards the end of 2011 respectively.

Aker Yards ASA Aker Yards has a clear ambition to strengthen the operational focus in the business area Cruise & Ferries in Aker Yards, and has decided to strengthen the management team. The new manager for the yards in Finland, Martin Landtman, will together with the manager for the yards in France and the manager for sales and marketing report directly to the CEO.

Aker Yards ASA The delayed completion of Aker Yards' sales of 70 percent of its Merchant Vessels Business to FLC West caused a short-term liquidity need at Aker Yards. In order to compensate for this short term liquidity need, Aker Yards requested STX, 40.4 percent shareholder of Aker Yards, to support it by arranging short-term financing or by participating in a bond issue. STX Norway AS has today agreed to provide short-term financing to Aker Yards in the aggregate amount of NOK 450,000,000. The loan carries an interest rate of NIBOR +1.5 percent and shall be repaid to STX Norway AS no later than on 31st July 2008.

Aker Yards ASA Aker Yards and the Russian company FLC expects to complete the transaction in which FLC buys 70 percent ownership in three yards in Ukraine and Germany in July 2008. The agreement was announced 25 March 2008. The one remaining item in the process before the transaction is concluded is to complete the process to obtain approval from the Ukraine competition authorities. This process has taken somewhat longer than anticipated, but FLC and Aker Yards expects that it will be possible to get this final approval shortly.

Aker Yards ASA Aker Yards' board of directors has received confirmation for STX' acquisition of 1 318 350 shares for NOK 63 per share, after STX announced an initiative to purchase further AKY shares in the afternoon of Friday, June 20. From before, STX held 39.2 percent of the shares in Aker Yards. As the acquisition triggers a mandatory offer from STX for all remaining Aker Yards shares, the board of directors expects STX to reflect the fair value of the company, including an appropriate control premium, in their offer.

Aker Yards ASA Aker Yards ASA is considering to issue bonds in NOK (1 and 3 years respectively) of minimum NOK 250 million and maximum NOK 1BN in each loan.

Aker Yards ASA Aker Yards has not yet received confirmation from FLC West that they have received approval from Ukraine competition authorities for FLC's acquisition from Aker Yards of 70 percent of the shares in the subsidiary Aker Yards Ukraine Holding. Under the agreement which the two companies announced 25 March 2008, FLC West has the responsibility to apply for the necessary approvals for their new ownership. Based on the information Aker Yards has received in respect of FLC's applications, Aker Yards had expected clearance to be obtained and information to be received by now.

Aker Yards ASA Aker Yards and P&O Ferries have signed a letter of intent for building two large car-passenger ferries. The total contract price for both vessels would be approximately EUR 360 million. The vessels, scheduled for delivery in 2010 and 2011 respectively, would be of crucial importance for the Finnish maritime industries.

Aker Yards ASA Aker Yards has through the media been informed that the French government, after discussions with the company STX, intends to buy a total of 34 percent of the shares in Aker Yards France. Aker Yards France includes two yards, in Saint Nazaire and in Loreant, STX is a shareholder in the publicly listed Aker Yards ASA, with 39.2 percent of the shares.

Aker Yards ASA Magne Hovden has been appointed Chief of Staff for Aker Yards ASA, reporting to the President & CEO. Hovden comes from the position as senior vice president for corporate HR & HSE for Aker Solutions and brings with him solid management experience.