Aker Yards Builds Platform Supply Vessel for Olympic Master

Aker Yards, via its wholly owned subsidiary, Aker Brevik, has entered into a contract with Olympic Master KS in Fosnavag, Norway, to deliver a UT 755LN platform supply vessel. The value of the newbuild contract is approximately NOK 125 million.

This is the second contract for a Platform Supply Vessel for Aker Brevik in a week, and managing director, Lars Stšrk, emphasizes that this contract is yet another proof that the yard in Brevik is able to compete in a market that continues to develop positively.

This will be the third vessel of this type to be delivered in the first six months of 2005 for Aker Brevik AS. The company has delivered 15 Platform Supply Vessels of approximately the same type over the last 6 - 7 years. In addition they have delivered six AHTS during the last two years. The seventh will be delivered in December this year.

Aker Yards has in total built 53 various versions of the UT 755 design and has another 9 in order.

The hull will be built at Aker Brevik's subsidiary in Romania, Aker Braila. Delivery of the vessel is scheduled for late June 2005.

BÝthun & Dokmo AS, Sandvika, Norway has been in charge of the organization and establishment of Olympic Master KS.

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