Aker Yards to build four PSV’s

Nordcapital Holding GmbH & Cie. KG in Hamburg, Germany and Aker Yards announced that it has signed an agreement to build four Platform Supply Vessels (PSV's) of the type UT 755 LN at Aker Yards in Norway. The value of the contract is approximately $89.8m. Nordcapital has an option for an additional four vessels that will have to be declared by the middle of May 2006. The four vessels are scheduled for delivery from the fourth quarter in 2007 to the second quarter 2008, and will be built at a combination of company’s yards in Norway