- Interim report first half of 2008 and presentation - Aker Seafoods strengthens its position for fresh fish

The seafood company Aker Seafoods further strengthens its position in the
European market for fresh fish. Increased oil prices, a strong Norwegian krone
and unrest in financial markets affected the group's level of activity and
profit margins. 

Acquiring French seafood company Viviers de France the group is part of Aker
Seafoods' strategically focus on consumer packed fish for South Europe. With
Aker Seafoods France, the group has strengthened its position in the European
market. 

- With the acquisition in France, we have increased sales of consumer packed
fish in the first half of 2008. With a base in France, we are able to reach
large markets in Europe with an increasing demand for seafood. The largest
increase for consumer packed fish is seen in France, Denmark and Sweden, says
Aker Seafoods CEO Yngve Myhre. 

During the second quarter, operating revenues came to NOK 711 million and
EBITDA to NOK 61 million. The corresponding figures for the same period of 2007
were NOK 689 million and NOK 54 million. The group achieved operating revenues
of NOK 1 502 million and an EBITDA of NOK 134 million in the first half. That
compares with NOK 1 443 million and NOK 149 million respectively in the same
period of 2007. 

At the end of the six month period, the group has built up a larger inventory
of frozen products and salted fish than in the first half. Negative trends in
the foreign exchange and financial markets meant that a number of customers
delayed their fish purchases in the first half. The group expects to sell out
its stocks in line with exciting contracts during the third quarter. 

The processing Denmark and Sweden business area had operating revenues of NOK
316 million for the first half, down from NOK 343 million in the same period of
2007. EBITDA was NOK 16 million, compared with NOK 15 million the year before.
The EBITDA margin was five per cent as against 4.3 per cent in 2007. 

Aker Seafoods Denmark had a decline in its operating revenues for the second
quarter due to lower raw material supplies. However, sales of fresh fish packed
by the modified atmosphere process (MAP) increased and showed good results
during the quarter. Aker Seafoods expects an even further future increase
within this segment. In Sweden, sales increased compared with the second
quarter of 2007 and EBITDA for the period was marginally positive. 

Aker Seafoods France had operating revenues of NOK 121 million in the second
quarter of 2008 and an EBITDA of NOK 6 million. The acquisition of Viviers de
France represented a continuation of the group's strategic commitment to
consumer-packed fish in southern Europe. 

High oil prices will mean a steep rise in fuel costs for the group's trawler
fleet over the full year. The strength of the Norwegian krone against the US
dollar, the pound sterling and the Icelandic krona affects the price achieved
by Aker Seafoods for its products in the market. 

Norwegian saithe was environmentally certified by the Marine Stewardship
Council (MSC) in June. This is the first fish species to receive such
certification in the Barents Sea, and Aker Seafoods has been a prime mover in
efforts to ensure sustainable harvesting and environmental certification of
whitefish from Norway. 

- During the same month as Norwegian saithe was certified by MSC, our
processing plant in Stamsund, Norway, Aker Seafoods J.M. Johansen, was approved
for producing Norwegian MCS certified saithe and we can thereby offer our
customers saithe that is environmentally certified. The environmental
certification makes it possible to achieve a better product mix and thereby
higher market prices. In the next six months, we expect to have several of our
plants MSC certified, says Myhre. 

Aker Seafoods has 48 per cent of its quotas left to harvest in the second half,
up five percentage points from 2007. The group also purchased raw material in
the second quarter for processing in the last half, when supplies of fish from
the coastal fleet are normally smaller and raw material prices are higher than
in the first six months. This gives the group a better raw material base for
July-December than in the same period of last year. 

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
www.akersea.com