Investment in Company

29 June 2009

             ROLLS-ROYCE ANNOUNCES INVESTMENT IN ODIM ASA ("ODIM")             

Rolls-Royce, the global power systems company, today announced that it has
agreed to purchase a 33 per cent holding in the ordinary shares of ODIM, a
leading provider of specialist marine handling systems to the offshore oil and
gas industry.

The acquisition is of 15,545,634 ordinary shares and will be purchased for
investment purposes from Aker Solutions ASA ("Aker Solutions") for a cash
consideration of NOK 45 per share and a total consideration of NOK 700m 
(circa £66m). The agreement is conditional on the approval of the investment 
by the Norwegian competition authority. Rolls-Royce does not currently hold 
any shares or have any rights over shares in ODIM.

Rolls-Royce has a strong and growing presence in the offshore oil and gas
sector. This investment creates the opportunity for Rolls-Royce and ODIM to
work more closely together to provide customers with a broader product and
service offering, including ODIM's automated handling systems for seismic and
subsea applications.

Rolls-Royce has agreed to make an additional payment to Aker Solutions if,
within nine months of completion of the agreement, it acquires any further
shares in ODIM or makes an offer for further ODIM shares at an offer price of
more than NOK 45 per share.

John Paterson, President Rolls-Royce Marine, said: "ODIM has a strong market
position and a good product and service portfolio with significant long-term
prospects. The offshore sector is core to our marine strategy and our
investment in ODIM will facilitate further cooperation between our two
companies."

Notes to Editors:

 1. Rolls-Royce, a world-leading provider of power systems and services for use
    on land, at sea and in the air, has established a strong position in global
    markets - civil aerospace, defence aerospace, marine and energy. In each of
    these sectors, Rolls-Royce offers value-added long-term service agreements
    for customers and operators.
   
 2. The company has a broad customer base including more than 600 airlines,
    4,000 corporate and utility aircraft and helicopter operators, 160 armed
    forces, more than 2,000 marine customers, including 70 navies, and energy
    customers in nearly 120 countries.
   
 3. With facilities in 50 countries, Rolls-Royce employs 39,000 people
    worldwide and has businesses headquartered in the UK, United States,
    Canada, Germany, Scandinavia and China. This global presence allows the
    Group to access long-term international growth opportunities with its
    technology, presence, partnerships and people.
   
 4. Annual revenues were £9.1 billion in 2008, of which 52 per cent came from
    services, generating underlying profit before taxes of £880m. The firm and
    announced order book stood at £55.5 billion, providing visibility of future
    activity levels.
   
 5. The Rolls-Royce Marine business employs over 8,000 people in 34 countries
    with its main manufacturing centres located in Scandinavia, the UK, the
    United States and increasingly Asia.
   
 6. Rolls-Royce is a significant employer in Norway, with over 2,700 people in
    seventeen facilities, including the headquarters of its offshore and
    merchant marine businesses. Since the acquisition of Vickers in 1999, it
    has continued to invest in the business and intends to develop it further.
   
 7. Rolls-Royce is a world leader in marine solutions, providing products,
    service and expertise to more than 30,000 commercial and naval vessels in
    the offshore, merchant, naval and submarines markets. Rolls-Royce products
    include a wide range of deck machinery such as winches and offshore vessel
    systems. The full range of Rolls-Royce marine capabilities comprises ship
    design, propulsion systems featuring diesel engines and gas turbines,
    propellers, thrusters and water jets, and a wide range of other marine
    control systems, equipment and machinery
   
ODIM ASA:

 1. ODIM ASA is a Norwegian technology company which develops and sells
    advanced automated handling solutions, primarily cable handling systems and
    winches for use on offshore and naval vessels. (www.odim.com)
   
 2. In the year to 31 December 2008, ODIM reported revenues of NOK 2,136 million
   (£200 million) and profit before tax of NOK350 million (£33 million).
   
For further information, please contact:

Mark Alflatt
Director of Financial Communications
Rolls-Royce plc
Tel: [phone]
[e-mail]

Amanda Price
Investor Relations Manager
Rolls-Royce plc
Tel: [phone]
[e-mail]