PHLY Philadelphia Consolidated Corp (MM)

The information below has been updated to reflect the corrected record date of
24 February 2017.

Dividend amount: USD 0.25 per share

Declared currency: USD 

Last day including right: 22 February 2017

Ex-date: 23 February 2017

Record Date: 24 February 2017

Payment date: On or about 6 March 2017  

Approval date: 16 February 2017

Other information:  The dividend is classified for accounting purposes as payment from retained earnings.

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Philly Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market.  It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Philly Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Aker Capital AS, which in turn is owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope:  oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Aker BP, Aker BioMarine, Ocean Yield and Akastor.

This information is published in accordance with the requirements of the Continuing Obligations.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.