Fourth quarter 2007 - Reduced fishing in Norway, strong market and new acquisitions

The development in Aker Seafoods' results confirms the main trends within the
European whitefish industry; the market is strong and further driven by the
increasing demand for first class products. On the flip side access to raw
material and at times big variations in harvesting have had their effect and
influence Aker Seafoods' results in the fourth quarter. 

- In this situation, Aker Seafoods has looked to strengthen its position
further by, among other things, making acquisitions in all parts of its value
chain, says Aker Seafoods CEO Yngve Myhre. In December 2007, Aker Seafoods
entered into an agreement to acquire processing and distribution capacity
located in France. In the fourth quarter, the company increased its involvement
in sea ranching and farming of cod, and previously in 2007, the group also
purchased quotas both in Norway and Spain. 

Through this expansion, Aker Seafoods will continue to increase its operating
revenues from today's level to about NOK 3 billion in 2008, which represents a
growth of close to 30 per cent. Simultaneously, operational improvement efforts
continue as planned and the fleet is being optimized to harvest as much of its
quotas as possible. The drive towards specialization of the production plants
will also continue. 

The increased demand for fish products is reflected in increased prices; a
development that is expected to continue. The access to raw material in 2008
will be affected by Iceland's reduced quotas and reduced volumes of illegal
fishing, as a result of the Norwegian and European Governments' campaign
against the illegal fishing. The industry has increased its awareness of
delivery assurance, and among other things, the industry is actively pursuing
the documentation of sustainable fisheries. 

- All of the factors mentioned above, strengthens Aker Seafoods' position as a
leading actor in the European white fish industry. With the completed
investments, we have achieved an even stronger platform for further growth,
says Myhre. 

As mentioned above, the market for seafood is strong, but as announced in
December, Aker Seafoods - along with the rest of the Norwegian fishing industry
- has experienced a decline in both landings and harvesting compared to normal
levels for the fourth quarter. This is due to reduced landings by the coastal
fishing fleet and the closure of large and important fishing grounds during the
period because of the high proportion of small fish. For the fourth quarter of
2007, Aker Seafoods achieved earnings before interest, tax, depreciation and
amortisation (EBITDA) of only NOK 13 million compared with NOK 56 million for
the fourth quarter 2006. EBITDA for the full year came to NOK 189 million,
which is at the same level as in 2006. 

The loss in profit before tax in the quarter came to NOK 54 million, compared
to a profit of NOK 67 million for the same quarter the previous year. The
result in the fourth quarter is charged with NOK 26 million in one-off costs
and depriciations. For the full year, profit before tax came to NOK 28 million
compared to NOK 104 million in 2006. 

The Board of Directors proposes a dividend from the company of NOK 0.75 per
share. This implies a total dividend payment of NOK 36.4 million. 

For further information, please contact:
Yngve Myhre, CEO Aker Seafoods ASA. Telephone 24 13 01 60
Gunnar Aasbø, CFO Aker Seafoods ASA. Telephone 24 13 01 60