Aker American Shipping Establishes New Name: American Shipping Company ASA (29.07.08)

As communicated to the market on the 25 June 2008, Aker American Shipping ASA has changed its name to American Shipping Company ASA.

The name change is a result of Aker ASA reducing its majority ownership position in the company. Approval for the name change was decided upon at the Extraordinary General Meeting held on the 25 June 2008 and it was officially registered with the Norwegian Registry of Business Enterprises (NRBE) on the 21 July 2008.

After being renamed American Shipping Company ASA, the company also initiated a revision of its trading ticker symbol on Oslo Børs (the Oslo Stock Exchange). The new ticker is “AMSC” and beginning the 31 July 2008 the company will trade under this new ticker.

In conjunction with the name change, the company has also launched a new website. For more information on American Shipping Company ASA, visit www.americanshippingco.com.

American Shipping Company ASA (AMSC) owns and leases world-class, environmentally friendly U.S. flag merchant vessels for operation between domestic U.S. ports. When the current series of twelve tankers is completed in 2011, AMSC will own the most modern product tanker fleet in the United States; and it will be the first company in the United States to own shuttle tankers for use in the U.S. Gulf of Mexico.

American Shipping Company ASA.