Aker Yards ASA

STX Europe ASA (OSL:AKY) 6 November 2008: STX Europe and the French Republic have agreed that the French state becomes a 33.34 percent shareholder in STX France and its shipyards in Saint-Nazaire and Lorient. The combined ownership of STX and the French Republic will expand the strategic opportunities for one of the few sophisticated large capacity shipyards in Europe.

STX Europe ASA (OSL:AKY) STX Europe has refinanced its revolving credit facility. The new facility is a 3 year financing of NOK 600 million provided by Nordea. Woori Bank of Korea is participating with 50 percent.

STX Europe ASA (OSL:AKY) The world's leading builder of cruise and offshore vessels, Aker Yards, changes name to STX Europe. The name change reflects the entry of the South Korean-based STX Business Group as principal shareholder in the company during summer 2008. Effective 3 November, the international shipbuilding group Aker Yards, with head office in Oslo, Norway, and all its subsidiaries, will share the common brand STX Europe.

Aker Yards ASA (OSL:AKY) STX Europe ASA reported an EBITDA result of NOK 45 million for the third quarter of 2008 for the continuing operations, down from NOK 138 million in the same period last year. While the revenues grew with 14.2 percent and new order intake amounted to NOK 7 344 million, an ongoing project within Offshore & Specialized Vessels for A.P. Moller - Maersk AS continued to negatively influence the EBITDA result also in the third quarter. The transaction with FLC West was completed at the end of July. This resulted in a profit from discontinued operations of NOK 791 million and increased the equity ratio to 22 percent.

Aker Yards ASA (OSL:AKY) STX Europe ASA (Aker Yards ASA) has taken up a short term loan of NOK 50,000,000 from STX Norway AS. The loan is for general corporate financing purposes and carries an interest rate of NIBOR +2.5 percent.

Aker Yards ASA (OSL:AKY) The offshore service vessel ISLAND WELLSERVER, owned by the Norwegian company Island Offshore and built by Aker Yards Langsten, was today declared Ship of the Year 2008 at the SMM 2008 Exhibition in Hamburg by the Norwegian State Secretary Rikke Lind. ISLAND WELLSERVER is a subsea riserless oil and gas well intervention vessel, and represents new technology in the offshore market. The ship also introduces new standards for working environment, safety and comfort.

Aker Yards ASA (OSL:AKY) The change of name from Aker Yards ASA to STX Europe ASA has now been registered in the Norwegian Register of Business Enterprises (Foretaksregisteret). An updated certificate of registration in Norwegian (firmaattest) is enclosed.

Aker Yards ASA (OSL:AKY) Aker Yards ASA has appointed Mr. Sang-Ho Shin as Chief Operating Officer (COO).

Aker Yards ASA (OSL:AKY) Aker Yards ASA has today on 3 September 2008 held an Extraordinary General Meeting (EGM).

Aker Yards ASA (OSL:AKY) Enclosed please find the recommendations from Aker Yards ASA's nomination committee in connection with the company's extraordinary general meeting to be held Wednesday 3 September 2008.