Theisen to Join Aker American Shipping as VP of Finance

May 23, 2007

Jan Ivar Nielsen, Aker American Shipping's Chief Financial Officer (CFO) and Head of Investor Relations has accepted a position with Aker Yards and will be leaving the group. Replacing Mr. Nielsen will be Mr. Jeffrey Theisen, who will join the company immediately as VP of Finance and assume the duties of CFO and Head of Investor Relations after a transition period to take place during the next few months. Theisen is a twenty year resident of the Philadelphia area and a graduate of Villanova University. Mr. Theisen comes to Aker American Shipping with 17 years experience in financial and strategic planning, organizational leadership, budgeting and cost management, including seven years with Arthur Andersen and most recently as Chief Financial Officer for The Regulus Group, a market leader in transaction and information processing services to financial institutions and commercial end-users.

Theisen to Join Aker American Shipping as VP of Finance

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