Offshore staff

(Norway) - Aker Yards has entered into a contract with AP. Moller - Maersk AS for the building of eight anchor handling tug supply vessels (AHTS).

The contract also includes an optional agreement for another two sister vessels.

The value of the contract is approximately $498.6 million.

The series of AHTS vessels is of Vik & Sandvik-design, VS 472.

The vessels are of approx. 73.2 m. length, 20.0 m. breadth and 9.1 m. depth moulded.

Deliveries are scheduled for 2008 and 2009, from Aker Yards in Norway.

03/27/06