Seadrill Reduces Stake in Aker Drilling

On December 29, 2006, Seadrill sold 9,809,400 shares in Aker Drilling ASA and simultaneously entered into a forward contact for the equivalent number of shares with due date on June 29, 2007. Following these transactions Seadrill's shareholding in Aker Drilling ASA, including the forward contract, totals 16,030,300 shares, corresponding to 17.2 percent of the total outstanding shares.

The total ownership percentage has been calculated based on an issued share capital in Aker Drilling ASA of 93,000,000 shares.

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