Aker Asa

The organizational modifications are being implemented to make Aker a more clearly defined - and an even more demanding - owner of its independent, operational companies. The purpose is to reinforce Aker ASA's role as a strategic and financial driver of its business enterprises.
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Among the responsibilities awaiting talented managers, Mr. Eriksen points out, are the many promising companies in Aker ASA's current portfolio along with the new opportunities emerging as a result of today's turbulent financial markets.
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- Staffing the newly created Investment Manager positions has been our priority thus far, Eriksen notes. - An experienced manager will return to Aker to help run our Portfolio Investments.

Ghana National Petroleum Corporation (GNPC) and governmental authorities selected Aker as the operator of the offshore exploration area South Deepwater Tano in competition with international oil companies. The award has been sanctioned by the Ghanaian Parliament.
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Ownership interests for the exploration phase at South Deepwater Tano are to be allocated as follows: Aker, 85 percent; GNPC and the Ghanaian government together will own 10 percent; and Aker's local partner Chemu Power Ltd. will hold a 5 percent stake.
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Aker will be in the driver's seat regarding exploration and development of South Deepwater Tano. Initially, Aker will invest USD 25-30 million in seismic survey and data interpretation; the program is scheduled to begin in the first quarter of 2009. Drilling the first South Deepwater Tano exploration well is planned for 2011. Aker will consider inviting other industry participants to join as license partners.

"We believe that Aker will prove a solid partner for Ghana's authorities, who have a clear vision for making the country's oil and gas resources advance the nation's welfare. Aker has played a key role since the opening chapter of Norway's modern history as an oil producer.

As communicated to the market on the 25 June 2008, Aker American Shipping ASA has changed its name to American Shipping Company ASA. Read more
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Aker ASA's ownership interest in Aker American Shipping ASA is reduced from 53.2% to 19.9%. Aker's involvement is changing, from being an active industrial owner to becoming a financial investor in the shipowning company. Read more

Aker ASA's CFO Bengt A. Rem has decided to seek new challenges outside Aker.
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Mr Rem has worked in Aker since 1995 and starts as a managing director in Arctic Partners.

We are achieving optimal freedom of action and flexibility for the Group," says Aker ASA's President and CEO Leif-Arne Langøy.

Enclosed please find recommendations from Aker ASA's Nomination committee in connection with the company's Extraordinary General Meeting on 19 December 2008, re. notice of Annual General Meeting.

Aker recommended for carbon capture at Mongstad (12.12.2008) Aker has been recommended as a technology supplier for the European CO2-capture Test Center at Mongstad, Norway. Read more
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As communicated to the market on the 25 June 2008, Aker American Shipping ASA has changed its name to American Shipping Company ASA. Read more

CO2-capture: Aker participates in UK competition (01.07.2008) Aker Clean Carbon, which delivers CO2-capture technology and together with Aker Solutions plans to build and install carbon capture facilities at coal and gas power plants and other CO2 emission sites around the world, has signed its first international contract. Read more

Aker reduces ownership in Aker American Shipping (06.06.2008) 06.06.08

Aker ASA's ownership interest in Aker American Shipping ASA is reduced from 53.2% to 19.9%. Aker's involvement is changing, from being an active industrial owner to becoming a financial investor in the shipowning company. Read more

Aker reduces its holding in Aker American Shipping (06.06.2008) Aker ASA's ownership interest in Aker American Shipping ASA is reduced from 53.2% to 19.9%. Aker's involvement is changing, from being an active industrial owner to becoming a financial investor in the shipowning company.
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Enclosed please find recommendations from Aker ASA's Nomination committee in connection with the company's Annual General Meeting on 3 April 2008, re. notice of Annual General Meeting. Read more
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Aker has decided to build what is likely to become the world's first and largest CO2 capture facility of its kind.

Aker ASA's ownership interest in Aker American Shipping ASA is reduced from 53.2% to 19.9%. Aker's involvement is changing, from being an active industrial owner to becoming a financial investor in the shipowning company.
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Prior to the transaction, Aker owned 14,675,950 shares in Aker American Shipping through Aker American Shipping Holding. After the sale, Aker owns [5,493,430] shares in Aker American Shipping, corresponding to 19.9% of the issued share capital in Aker American Shipping.

Aker's financial exposure to Aker American Shipping is unchanged, but Aker's ownership interest and rights is reduced from 53.2% to 19.9% as a result of the transaction.

In November 2007, Aker announced that it planned to reduce its ownership interest in Aker American Shipping. The sale of shares is related to US Jones Act restrictions which would limit Aker's further ambitions for developing maritime businesses outside the United States.

As a result of Aker's reduced ownership interest, Gary Mandel, Chairman of the Board of Aker American Shipping, has informed the nomination committee that he will step down as Chairman, but still be represented on the Board. Ørjan Svanevik will withdraw from the Board, leaving Aker with representation on the Board consistent with its reduced ownership interest.

Aker American Shipping has informed that they intend to summon for an extraordinary general meeting shortly, in order to attend to this board membership matter and other corporate changes that should be considered by the shareholders as a result of Aker American Shipping no longer being part of Aker, including an adjustment to the name of the company.

Mr. Langøy will continue to work for Aker and will serve on the boards of several Group companies.
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Since I have not fully recovered, I choose to step down as Aker's Board Chairman and CEO out of concern for my personal health and the best interests of Aker, says Mr. Langøy.