As part of further strengthening its position within processing and raw material in Norway, Aker Seafoods entered into an agreement today to purchase 50 percent of the shares in Norwegian Fish Company Export AS (NFC). The transaction gives Aker Seafoods ownership of several processing plants and landing facilities in North Norway and thereby increases the company's access to raw material and finished products. Through its subsidiary companies, NFC currently operates within receiving, processing, and trading of fish and seafood products from its two processing plants and landing facilities in Finnmark, with its main activities located in Sørvær and Berlevåg. Over an extended period of time, Aker Seafoods and NFC have developed increased trade with one another, and the transaction is part of formalizing a closer co-operation. In 2006, the NFC-group had operating revenues of NOK 159 million and achieved earnings before interest, tax, depreciation and amortization (EBITDA) of NOK 4.3 million. - NFC has processing plants and landing facilities strategically placed in North Norway, and through this agreement, Aker Seafoods will have increased access to fresh and frozen filet, king crab, salted fillets/fish, raw material for filet industry, and by-products, says CEO Yngve Myhre, Aker Seafoods. NFC will achieve some priority rights for delivery obligations of its trawler fish to Berlevåg, and the companies will work to exchange other fish with one another as well. - The plants and facilities at Særvær and Berlevåg fit well into the plant structure of Aker Seafoods, and are thereby supplementary to our existing activities. With a background in our product optimimization strategy, where we seek optimal raw material access to all of the group's plants, we see opportunities for synergies with NFC for the future, Myhre adds. The transaction The transaction is completed by the transfer of 50 percent of the shares to Aker Seafoods from NFC. One of the current owners, NFC Holding AS, will own 50 percent of the remaining shares. Aker Seafoods ASA purchases the shares for NOK 9.25 million, and together with a net interest debt of NOK 12 million, this equalizes an enterprise value of NOK 30.5 million. The settlement takes place partly by a cash payment and partly with a transfer of shares in Aker Seafoods, of which the value is based on the average stock market value throughout the last 14 days. Aker Seafoods ASA and NFC Holding AS share a common ambition to further develop NFC, and prepare for the exchange of raw material and finished goods. This includes that NFC will participate in Aker Seafoods' platform of communication and systems for flows of goods. - As part of the agreement, Steinar Ludvigsen continues as the general manager of NFC, and will co-operate with the board of directors, chaired by Terje Kjølsøy, Aker Seafoods, to actively work to further develop the company and realize the synergies between NFC and Aker Seafoods, says Yngve Myhre. The transaction is dependent on final approval from the board of directors and approval from the Norwegian competition authority. About Aker Seafoods Aker Seafoods is the largest fish harvesting and processing company in Scandinavia, operating 14 ocean-going trawlers with a total estimated catch of 50 000 tons of whitefish and shrimp in 2007. Furthermore, it operates six processing plants in Norway, five plants in Denmark, and one plant in Sweden, processing a total volume of approximately 90 000 tons of seafood. Annual turnover is EUR 280 million and the company has close to 1 200 employees. The company is listed on the Oslo Stock Exchange with Aker ASA as the largest shareholder holding 65 percent of the shares. For further details, please contact: Yngve Myhre - CEO, Aker Seafoods ASA. Tel: +47 24130160 Gunnar Aasbø - CFO, Aker Seafoods ASA. Tel: +47 24130160 www.akerseafoods.com