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July 15, 2005

Insiders buy Aker American shares

In an Oslo Stock Exchange notice, Aker ASA says it has completed the secondary sale of shares in Aker American Shipping. The maximum offering of 350,000 shares were sold at a price of NOK 65.

In addition Aker sold 74,050 shares to employees in Aker American Shipping, Aker, Aker Yards and Kvaerner. After these transactions Aker holds 53.2 percent of the shares in Aker American Shipping.

The secondary sale was offered to enable other investors to buy shares in the company at the same price as the investors who took part in the recent private placement.

In addition to the 350,000 shares sold in the secondary sale, 74 050 shares have been sold to employees in Aker American Shipping, Aker, Aker Yards and Kvaerner.

After these transaction Aker ASA holds 14 675 950 shares in Aker American Shipping.

The following primary insiders in Aker American Shipping ASA, have on July 14, 2005 bought shares at a price of NOK 65 in the company:

Leif-Arne Langoey (Chairman AKASA and CEO Aker ASA), 23,000 new shares. New holding is 23,000 shares.

Martinus Brandal (EVP, Aker ASA), 6,150 new shares. New holding is 6.150 shares.

Karl Erik Kjelstad (CEO, Aker Yards and Member of Board), 5,000 new shares. New holding is 5 000 shares.

Dave Meehan (CEO, AKASA), 5,000 new shares. New holding is 5,000 shares.

Jan Ivar Nielsen (CFO, AKASA), 5,000 new shares. New holding is 5,000 shares.

Lars Staerk (President, Aker Brevik), 5,000 new shares. New holding is 5,000 shares.

Oerjan Svanevik (Board Director, AKASA), 3,000 new shares. New holding is 3,000 shares.

Steinar Naerboevik (VP, AKASA), 2,500 new shares. New holding is 2 500 shares.

Ole Heggheim (EVP, Aker Yards), 2,000 new shares. New holding is 2,000 shares.

Oddvar Slettevold (EVP, Aker Yards), 1,600 new shares. New holding is 1,600 shares.

Juergen Kennemann (EVP, Aker Yards), 1, 000 new shares. New holding is 1,000 shares.

Tore Langballe (SVP, Aker Yards), 1, 000 new shares. New holding is 1,000 shares.

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