Aker Yards to Build PSV for Portosalvo

Maritime Activity Reports, Inc.

July 26, 2007

Aker Yards has entered into a contract with Portosalvo Ltd.for building of one Platform Supply Vessel based of the design Aker PSV 09 CD. The value of the contract is approximately $53.2m. Delivery is scheduled in 4Q 2010. Portosalvo Ltd. also has an option for one more identical vessel.

The vessel will be equipped with dynamic positioning, diesel electric propulsion and will have the class notation Clean Design. The vessels are designed for good sea keeping performance, low fuel consumption and environmental friendly operations. The hull for the vessel will be built at Aker Yards in Romania and outfitted at Aker Yards in Norway.

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