Aker Solutions ASA (OSL:AKVER) Subsea Umbilical Frame Agreement To Aker Solutions

Aker Solutions ASA (OSL:AKVER) 30 December 2008 - Aker Solutions has signed a frame agreement with Shell Norway and Shell U.K. Limited for the supply of subsea umbilicals. The contract is awarded for one year with an option to extend it an additional 12 months.

The award means that Aker Solutions will be the preferred supplier of steel tube umbilicals for projects in the North Sea that are managed by Shell's Norwegian and UK operations. Aker Solutions has held similar frame agreements with Shell UK since 2001.

"We are very pleased to continue our relationship with Shell. Entering another frame agreement like this underlines Shell's confidence in both our technology and execution capabilities," says Svein Haug, senior vice president for Umbilicals, Aker Solutions.

"We have delivered several well-functioning umbilical systems to Shell aready. We are therefore in a position where we can look at re-using previous solutions. This can both reduce risk and speed up delivery time, which will be an advantage for both Shell and ourselves," adds Haug.

Aker Solutions is the global market leader for supply of steel tube umbilicals for subsea developments. The steel tube umbilicals for Shell's projects will be manufactured at Aker Solutions' purpose-built facility in Moss, Norway. Engineering and project management will be run from Oslo, Norway.

Contract party is Aker Subsea AS. ENDS

For further information, please contact: Media: Endre Johansen, communications manager, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com

Investor relations: Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194

Suppliers: For further information about sourcing and potential subcontracts for this project, please contact [BA Global Sourcing Champion, telephone number found here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.

Career opportunities: Visit http://www.akersolutions.com/Internet/CareerCentre

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 26 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.

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

Aker Solutions ASA
http://www.akersolutions.com/

ISIN: NO0010215684

Stock Identifier: XOSL.AKSO