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COLOR LINE AND AKER YARDS SIGN LOI FOR SECOND CRUISE SHIP
8.3.2005

Color Line AS and Aker Yards have signed a letter of intent (LOI) for the order of a second ship, a sister vessel to M/S Color Fantasy, the world's largest cruise ship with car decks delivered from Aker Finnyards the 3rd of December 2004. The contract value is at the same level as for M/S Color Fantasy, approximately EUR 300 million. The agreement is subject to certain conditions, including Color Line and Aker Yards board approval. The contract is anticipated to be made effective within the second quarter of 2005.

"We are extremely pleased to continue our strong relationship  with Color Line by building this sister vessel to M/S Color Fantasy." says Yrjö Julin, President of Aker Finnyards.
 
"This LOI was signed as a result of the positive cooperation with the yard when building M/S Color Fantasy. The contract was fulfilled according to our expectations both with regards to cost and timing, said President of Color Line AS, Mr. Trond Kleivdal.
 
M/S Color Fantasy has set a new standard with focus on the onboard cruise experience.
The ship has expanded the market in general and has higher than expected booking rates. "In particular we are very pleased to experience an increase of more than 50 percent bookings from the German market compared to 2004", said Mr. Kleivdal.
 
The new ship is scheduled to be delivered last quarter of 2007.
 
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For further information, please contact:
 
Color Line AS
Helge Otto Mathisen,  Information director,                                      +47 99 22 33 30
 
Aker Yards ASA
Tore Langballe, SVP Communications and Investor Relations,        +47 90 777 841
 
Aker Finnyards
Yrjö Julin, President,                                                                        +358 40 751 7940       
Sinikka Railo, Communications Manager,                                          +358 40 5120253
 
 
 
Color Line AS  is a Norwegian based, leading European player in the world of travel, adventure and transport with more than 3,200 employees in four countries. Annually revenues are approx. NOK 4 bn. The company has a fleet of 11 ships operating 7 international routes between 10 harbors in Norway, Germany, Sweden and Denmark. Annually more than 4,2 million passengers, 800,000 vehicles and 160,000 trucks are transported with Color Line. Color Hotel Skagen AS in Denmark is an integrated part of the cruiseferry business. The main office is located in Oslo.. www.colorline.no
 
 
Aker Yards is an international shipbuilding group focusing on sophisticated vessels and is 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 and specialized vessels. Aker Yards, with a turnover of NOK 12.5 bn. in 2004, comprises 13 yards in Norway, Finland, Germany, Romania and Brazil and has approximately 13,000 employees. www.akeryards.com
 
 

 
   
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