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Aker Develops New Division

Maritime Activity Reports, Inc.

February 24, 2000

Aker Maritime aims to provide cost effective solutions for deepwater drilling and production riser systems through its Riser Solutions Group. The group, which is headed by Jeff Mesamer, provides operators with beneficial solutions for production riser systems for various floating production systems, including semi-submersibles, Spars, TLPs and FPSOs - from initial development through delivery and installation. The group provides companies with many variations of free standing production riser systems, top tension risers and steel catenary risers. Project management is combined with the engineering services of Aker Engineering's Riser and Well Systems division, with Dr. Paul Stanton as vice president. When melded with Aker's expertise in pre-set moorings, operators and rig owners can utilize second and third generation drilling rigs in deepwater exploration and development drilling.

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