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Oslo, 5. October 2004: Aker Yards, via its wholly owned subsidiary, Aker Brevik, has entered into a contract with Island Offshore in Ulsteinvik, Norway, to deliver a UT 755L platform supply vessel. The value of the contract is approximately NOK 130 million.

Lars Stärk, CEO of Aker Brevik is very pleased with this new contract.
"We have won yet another PSV contract. This indicates that we are competitive in a market that continues to develop positively", says Stärk
This is the twelfth contract to be entered into between the shipowner, Island Offshore, Ulsteinvik and Aker Yards.
The hull for the PSV vessel for the Island Offshore delivery will be built at Aker Brevik's subsidiary in Romania, Aker Braila. The hull will arrive in Brevik in the middle of December this year. Delivery of the vessel is scheduled for March 2005.
Brevik Construction AS has delivered 15 platform supply vessels of the same type since 1998. In addition a UT 755L will be delivered in late January 2005.
Brevik Construction AS' current order backlog comprises in addition to the the newbuilding contract with Island Offshore, two vessel newbuildings and four process modules.
The platform supply vessel for Island Offshore is designated newbuilding number 37 at Brevik Construction AS.
For further information, please contact:
Lars Stärk, Managing Director Aker Brevik, +47 918 50 560
Tore Langballe, SVP Corporate Communications and Investor Relations,
Aker Yards ASA, +47 24 13 01 30
Aker Yards is an international shipbuilding group focusing on complex and sophisticated vessels and is Europe's largest and one of the world's five largest shipbuilders. Aker Yards has a strong position in terms of capacity, product range, technology and experience. The Company's product range includes offshore vessels, cruise and ferry vessels, other complex vessels and merchant vessels. The Group has 13 yards in four countries in Europe and in Brazil. Aker Yards had a revenue of NOK 16 bn. in 2003, and has approximately 14.500 employees.
Aker Brevik is a wholly-owned subsidiary of Aker Yards and offers turn-key newbuilding projects from the shipyards Brevik Construction in Norway and Aker Braila in Romania. Aker Brevik has long-standing experience from the construction of specialized vessels, with a portfolio including Ro-Ro, fishing vessels and offshore supply vessels.

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