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LOI WITH RCCL CONVERTED TO FIRM CONTRACT FOR BUILDING OF CRUISE SHIP
1.4.2005

With reference to a letter of intent announced on 7 March 2005, Aker Yards has received a confirmation in the form of a firm contract for building of a third ship in the Freedom class - the world's largest cruise ship, to be delivered spring 2008. The contract value is at the same level as the second vessel in this class, ordered last fall. The buyer credit guarantee offer made by Finnvera and the interest equalisation offer made by Finnvera's subsidiary Finnish Export Credit played a role in the deal. Finnvera and FEC have made similar offers also for the two previous vessels of the Freedom class.

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The release made on 7 March 2005 can be found at www.akeryards.com or www.newsweb.no
 
 
 
For further information, please contact:
 
Aker Yards
Tore Langballe,
SVP Communications and IR, tel.              +47 90 777 841
 
Aker Finnyards
Yrjö Julin,
President, tel.                                            +358 40 751 7940                                                                               
Sinikka Railo,
Communications Manager, tel.                  +358 40 5120253
 
 
Aker Yards is an international shipbuilding group focusing on sophisticated vessels and is Europe's largest and one of the world's five largest shipbuilders. The group has a strong position both in terms of innovation, product range, technology, experience and capacity. The product range includes cruise vessels and ferries, merchant vessels, offshore vessels and other complex vessels. Aker Yards, with a turnover of NOK 16 bn. in 2003, comprises 13 yards in Norway, Finland, Germany, Romania and Brazil and has approximately 14,500 employees.  
 

 
   
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