STX Europe ASA (OSL:AKY) NCL And STX Europe Reach Agreement On F3 Project

STX Europe ASA (OSL:AKY) F3 to debut in late May 2010

MIAMI & ST. NAZAIRE - 18 December 2008 - Norwegian Cruise Line (NCL) and STX France Cruise SA, STX Europe's French shipyard, announced today that they have reached an agreement and are moving forward with the construction of the F3 cruise ship project.

NCL and STX Europe have agreed to revise the original F3 order. STX France Cruise is now building one F3 ship at 150,000-tons with a total of 4,200 passenger berths, representing the largest ship in NCL's fleet. This will mean a continuation of the original hull which is currently in the early phases of construction, with delivery set for late May 2010, as originally scheduled. The planned second vessel, currently only in the preparatory stages, will not be built. Further terms of the agreement were not disclosed.

"With this agreement, we can all focus on completing the new vessel successfully," said Kevin Sheehan, NCL's president and CEO. "We are looking forward to the arrival of our much-anticipated F3 ship as it represents a major step forward for NCL in terms of ship size, design and innovation."

"We are pleased that the ongoing construction of the ship for NCL will continue. We, along with our subcontractors, will now make the necessary adjustments to our plans for this project," said Jacques Hardelay, president of STX France Cruise SA.

To date, information has only been revealed regarding F3's staterooms and nightlife. NCL plans to unveil the full F3 story in the near future. Further information can be found online at www.f3.ncl.com.

Norwegian Cruise Line (NCL) is the innovator in cruise travel with a 42-year history of breaking the boundaries of traditional cruising, most notably with the introduction of Freestyle Cruising which has revolutionized the industry by allowing guests more freedom and flexibility.

Today, NCL has the youngest fleet in the industry with 11 purpose-built Freestyle Cruising ships, providing guests the opportunity to enjoy a relaxed cruise vacation on the newest, most contemporary ships at sea. NCL is presently building a new third generation Freestyle Cruising project known as F3, for delivery in 2010.

STX Europe ASA (former Aker Yards ASA) is an international shipbuilding group with a leading position for deliveries of cruise ships and offshore vessels. The group has a strong position in terms of developing state-of-the-art concepts, technology, processes and products for customers around the world.

STX Europe ASA comprises 15 shipyards in Finland, France, Norway, Romania, Brazil and Vietnam, and is also a part owner of three yards in Germany and Ukraine. STX Europe has approximately 16 000 employees. Formerly known as Aker Yards ASA, the group changed its name to STX Europe in November 2008.

High resolution, downloadable images are available at www.ncl.com/pressroom. For further information on NCL, visit www.ncl.com or contact NCL in the U.S. and Canada at (866) 234-0292.

For further information, please contact:

STX Europe ASA:

Torbjørn Andersen SVP Corporate Communications Tel: +47 92 88 55 42

Elise Heidenreich VP Investor Relations Tel.: +47 95 14 11 47

STX Cruise France SA:

Anthony Ruf Communications manager Telf: + 33 2 51 10 90 57

NCL Corporation:

Anne Marie Mathews: +1 305.436.4799 Courtney Recht: + 1 305.436.4714 Email: PublicRelations@ncl.com

STX Europe ASA (former Aker Yards ASA) is an international shipbuilding group which aims to be the leading builder of cruise and offshore vessels. The group has a strong position in terms of developing state-of-the-art concepts, technology, processes and products for customers around the world. STX Europe ASA comprises 15 shipyards in Finland, France, Norway, Romania, Brazil and Vietnam, and is also a part owner of three yards in Germany and Ukraine. STX Europe has approx. 16 000 employees. Formerly known as Aker Yards ASA, the group changed its name to STX Europe in November 2008.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

STX Europe ASA

www.stxeurope.com

ISIN: NO0010222995

Stock Identifier: XOSL.STXEUR