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2014-04-09

Aker Philadelphia Shipyard : New Managing Director

Reference is made to the stock exchange notice of Aker Philadelphia Shipyard
ASA (Oslo: AKPS) (the "Company") dated 19 March 2014 regarding the
appointment of the Company's new Managing Director.

The Company's Board of Directors has today formally appointed Steinar Nerbøvik
as Managing Director. Mr. Nerbøvik was formerly Senior Vice President of
Operations of Aker Philadelphia Shipyard, Inc., the Company's wholly-owned
subsidiary ("APSI"), and assumes the position of Managing Director of both
the Company and APSI.

Steinar Nerbøvik (b. 1961) was appointed SVP of Operations in 2013. Prior to
this, Mr. Nerbøvik served as SVP Yard Director for Norwegian Shipyard VARD
Langsten (former Aker Yards and STX OSV Langsten), a leading provider of
sophisticated offshore support vessels. Mr. Nerbøvik first joined Aker
Philadelphia Shipyard in 2003 as Vice President Projects. Mr. Nerbøvik has
held other management positions as combined Design Manager and Project
Manager at Aker Langsten from 1991- 2003. Mr. Nerbøvik holds a Master of
Science in Ship Naval Engineering from the Norwegian Institute of Technology
(NTNU) in Trondheim. Mr. Nerbøvik lives in Philadelphia, PA, USA. Mr.
Nerbøvik is a Norwegian citizen. As of 1 February 2014, Mr. Nerbøvik holds
1,000 shares in the company and has no stock options.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aker Philadelphia Shipyard via Globenewswire

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