After a potential completion of both transactions, Aker’s ownership in Det norske increases to 32.6 per cent. If the shareholders in Aker Exploration and Det norske approve of the proposed merger between the two companies, Aker will hold 40.5 per cent of the combined company.

The first transaction for one million shares will be carried out immediately. Aker’s ownership in Det norske post this transaction will be 24.9 per cent.

The second transaction is conditional upon approval from the relevant competition authorities. This transaction will be completed only if and when such approval is in place. Agreed price for all the shares is NOK 49.90 per share. Aker’s total investment from these transactions will be approximately NOK 300 million.

This will potentially bring Aker’s total investment in Det norske up to approximately NOK 1.1 billion. The first shares were bought in May 2009 following Aker’s strategy to increase its activity within exploration and production of hydrocarbons on the Norwegian Continental Shelf.

– We take into account DNO International’s decision to reduce their ownership in Det norske, but will at the same time emphasize our desire that DNO international continues as a major shareholder, including representation on the Board of Directors, says Øyvind Eriksen, CEO of Aker ASA.

Before the completion of the first part of the agreement with DNO International, Aker ASA holds 15 177 752 shares in Det norske oljeselskap ASA, corresponding to 23.4 per cent of the shares and the votes in the company. New shareholding after the first transaction will be 16 177 752 shares, corresponding to 24.9 per cent of the shares and votes in the company.

After a potential completion of the remaining five million shares, new shareholding for Aker ASA will be 21 177 752 shares, corresponding to 32.6 per cent of the shares and votes in the company.

For further information:

Geir Arne Drangeid, EVP, Communication and IR. Tel.: +47 24 13 00 65