Disclosure of large shareholdings

On the 6th of September 2010, Mason Capital
Management LLC sold [1,424,967] shares in Aker
Philadelphia Shipyard ASA, after which it owns
[0.00%] of the total share capital and voting rights
in Aker Philadelphia Shipyard ASA.

For further information, please contact John
Grizzetti at Mason Capital Management LLC at +1 (212)
771-1232.