Aker: Preparations for finalizing the transaction in France

Aker Yards and Alstom announced on 4 January 2006 their intention to join forces in shipbuilding and create one of the world leaders in the industry, focused on high value added ships, including world class cruise ships. The transaction is expected to be final on May 31 2006.
A new company has been established to which Chantiers de l’Atlantique will transfer its employees, assets and cruise ships contracts. The legal name of the new company in France will be Aker Yards SA, and the names Aker Yards, France, Aker Yards, St. Nazaire and Aker Yards, Lorient will be used for branding, and communication purposes.