Aker Philadelphia Shipyard ASA Commences Open Market Partial Tender Offer for Up to 650.000 shares

Philadelphia, August 7, 2014 - Aker Philadelphia Shipyard ASA (Oslo Børs: AKPS)
today commences an open market partial tender offer ("Offer") for up to 650.000
AKPS common shares. The Offer is part of the buy-back programme announced by
AKPS on July 17, 2014.

The Offer is being carried out through a bookbuilding process. AKPS has retained
Pareto Securities as bookrunner to advise on and effect the Offer.

The bookbuilding commences immediately and will close no later than 17:00 CET
August 8, 2014. Pricing and allocation will follow before 09:00 CET August
11, 2014. The trade date will be August 11, 2014 and settlement will take place
on August 14, 2014. AKPS reserves the right to amend its order and decide the
final price and size of the Offer.

The Offer is being conducted in accordance with the AKPS buy-back programme
announced on July 17, 2014.

AKPS holds a total of 18,746 own shares before today's market order,
constituting approximately 0.15% of the Company's shares and votes.

Shareholders who potentially wish to sell their shares should call Pareto
Securities broker desk on +47 22 87 87 50.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


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