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Marine Log

MSC MUSICA

March 29, 2007

Aker Yards to build fourth Musica Class for MSC Cruises

Aker Yards has signed a contract with MSC Cruises to build a fourth MSC Musica Class Cruise ship.

The MSC Magnifica will be built at Aker Yards, Saint-Nazaire, France and delivery is set for 2010.

The value of the contract is approximately EUR 410 million (about $547 million). The contract is subject to financing.

Like its three predecessors (MSC Musica, MSC Orchestra and MSC Poesia, this 89,600 GT cruise ship is 294 metres long and just over 32 metres wide, and complies with the Panama Canal Standard. MSC Magnifica will carry up to 4,000 people on board (including crew) and have 1,275 passenger cabins, 80 percent being outside cabins.

Mr. Yrjo Julin, President of Aker Yards, Cruise & Ferries comments: "We are very proud to be able to continue to contribute to the dynamic expansion of MSC's fleet. The already strong relationship between MSC and Aker Yards has been further strengthened by this contract and we look forward to continue our innovative cooperation with MSC targeting to offer unique cruise experiences to MSC passengers".

Aker Yards is presently completing the construction of MSC Orchestra, which will be delivered in May. The order book also includes the third sister ship, MSC Poesia (delivery: 2008) and two 1650 cabins cruise ships - MSC Fantasia (delivery: 2008) and MSC Serenate (delivery: 2009).

By 2009, MSC Cruises' fleet will include ten modern cruise ships, all built by Aker Yards.

Aker Yards' business area Cruise & Ferries now has 21 vessels on its orderbook, ten of which are cruise vessels. The next cruise ship delivery is scheduled for April and will be the Liberty of the Seas, the second in the series of three of the world's largest cruise vessels.

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