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AKER YARDS TO BUILD TWO PSV'S FOR SIEM OFFSHORE
15.10.2004

Aker Langsten, a company in the Aker Yards Group, and Siem Offshore Inc have entered into a contract to build two platform supply vessels (PSV's). The value of the newbuilding contract is approximately NOK 250 million.

"We are very pleased to have Siem Offshore as a new partner in this project. Hopefully this fruitful relationship will be the start of a future cooperation between the two companies" says Roy Reite, responsible for the Offshore Service Vessels business area in Aker Yards.
 
Mr Reite continues: "This contract also confirms the strong relationship we have with Vik Sandvik. Aker Langsten is currently completing the new Avant vessel, which recently won the "Ship of The Year award". Together we have been able to develop unique, innovative solutions for our customers."
 
The vessel will be 73.4 meters long, and 16.6 meters wide, and will have a maximum cargo
capacity of 3 600 tonnes. The vessels are of Vik- Sandvik design VS 470 mk II, of which ten vessels have been built in the past. The hulls will be built in Romania. The contract includes a potential delivery of further vessels in the coming three years. Delivery is scheduled for the fourth quarter 2005.
 
For further information, please contact:
 
Roy Reite, Executive Vice President, Offshore Service Vessels, Aker Yards                   +47 70 21 06 00
 
Tore Langballe, SVP Corporate Communications and IR, Aker Yards ASA                       +47 24 13 01 30

Magne Kristiansen, CEO, Siem Offshore AS                       
                                                   +47 38 14 30 04         
                                                                                  
Aker Yards ASA 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. www.akeryards.com

 
   
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