Aker Explores Strategic Options in Light of New Ownership

Following the announcement on Tuesday October 23rd regarding the new ownership situation in Aker Yards ASA the Board of Directors has decided to actively explore the company's strategic options. The Board has engaged Arctic Securities ASA as financial advisors, and will further engage an international advisor. Wikborg Rein has been engaged as legal advisors in the process.

Aker Yards has been informed that STX believes its acquisition of shares in Aker Yards announced on 23 October 2007 must be notified to the European Commission pursuant to merger control regulations currently in force. Aker Yards is assisting with the preparation of the notification to the extent reasonably requested by STX and without sharing or disclosing confidential information. The formal filing is expected to be made within two to three weeks, whereafter the EU Commission must decide whether to investigate the transaction further or clear it within 25 working days. STX will enjoy full voting rights for its shares in Aker Yards from the time the transaction is cleared by the EU Commission."


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