NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN

Reference is made to the stock exchange notice dated 28 November 2011, regarding a possible share capital increase in Aker BioMarine ASA. The Board of Directors has resolved to propose a NOK 250 million rights issue in order to, among other things, finance the ongoing upgrade of Antarctic Sea (formerly Thorshøvdi), repay the company‘s bridge loan from Aker ASA, and finance potential follow-up investments in Trygg Pharma and general corporate purposes.

As a result of the rights issue, the company’s share capital will be increased with NOK 217,391,304, by the issuance of 217,391,304 new shares, each with a par value of NOK 1. The subscription price is NOK 1.15 per share.

Existing shareholders will receive subscription rights which give a preferential right to subscribe for and be allocated new shares in the rights offering. Shareholders will be granted 0.227543 subscription rights for each share held in the company, and each subscription right will give the right to be allocated one new share. The subscription rights are freely transferable, and will lapse at the end of the subscription period. Oversubscription and subscription without subscription rights is permitted.

The subscription period is two weeks and is expected to commence on 14 March 2012, provided a prospectus for the rights offering has been approved. Payment for the shares shall be made on the 7th trading day following the end of the subscription period.

The rights issue is fully underwritten by Aker Seafoods Holding AS. Arctic Securities ASA is acting as manager for the rights issue.

The notice and proxy form to convene the extraordinary general meeting is attached to this stock exchange notice.

Preliminary rights issue schedule:


8 March 2012:
Last day of trading for Aker BioMarine shares including the right to receive subscription rights for the issue.

9 March 2012
First day of trading in Aker BioMarine shares excluding the right to receive subscription rights for the issue.

13 March 2012
Record date for allocation of subscription rights to shareholders registered in VPS in accordance with the shareholder register as per end of trading 8 March 2012.

On or about 14 March 2012
Subscription rights distributed to shareholders registered in VPS as per the record date.

On or about 14 March 2012
Prospectus is published

14 March 2012 to 28 March 2012 at 17:30h
Subscription period

14 March 2012 to 28 March 2012 at 17:30h
Trading in subscription rights on Oslo Stock Exchange

On or about 29 March 2012
Preliminary results of rights offering published

On or about 3 April 2012
Allocation of new shares and distribution of allocation letters

11 April 2012
Payment date

12 April 2012
First possible date for delivery, listing, and commencement of trading of, the new shares.

Any changes to this schedule will be announced via Oslo Stock Exchange‘s systems.

Information about the rights issue will be made available at www.akerbiomarine.com.

PROPOSAL TO THE GENERAL MEETING

For more information, please contact:
Hallvard Muri, CEO, Aker BioMarine, tel.: +47 24 13 00 00
Fredrik Nygaard, CFO and IR contact, Aker BioMarine, tel.: +47 24 13 00 00