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POSITIVE CLARIFICATION OF COVENANT ISSUE
14.3.2008

At 3 March 2008, in Aker Yards' presentation of the 4Q and preliminary annual financial results for 2007, the company also communicated that there may be a breach of a covenant for bonds and bank loans on a corporate level. In the presentation, Aker Yards stated that it would, in order to be cautious, initiate a dialogue with the banks and representatives of the bond holders with the aim of concluding the issue.

This dialogue with banks and bond holders' representatives has now concluded that Aker Yards was not in breach with the covenant, and that the issue is resolved.
 
 
For further information, please contact:
 
Torbjørn Andersen
SVP Corporate Communication and IR
Tel: +47 92 88 55 42
 
 
Elise Heidenreich
Investor Relations Manager
Tel: +47 95 14 11 47
 
 
Aker Yards ASA (www.akeryards.com) is an international shipbuilding group focusing on sophisticated vessels. The group has a strong position both in terms of innovation, product range, technology, experience and capacity. The product range includes cruise vessels & ferries, merchant vessels and offshore & specialized vessels. Aker Yards comprises 18 yards in Brazil, Finland, France, Germany, Norway, Romania, Ukraine and Vietnam. Aker Yards has approximately 21,000 employees.

 
   
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