Archer

Board/Management Information • Nov 2, 2010

SEAW: Seawell Limited reports changes in the Board of Directors

Hamilton, Bermuda (November 2, 2010)

Mr. Alf C. Thorkildsen, CEO of Seadrill Management AS, has, effective yesterday,

resigned from the board of Seawell Limited. The board has, as his substitute,

appointed Mr. Fredrik Halvorsen to the board. Mr. Halvorsen's election will be

put to Seawell Limited's shareholders in the next general meeting of the company

for confirmation.

Mr. Halvorsen has previously worked for Tandberg ASA and McKinsey & Co. in

Southeast Asia. Mr. Halvorsen is currently employed by Frontline Corporate

Services Ltd.

Alf C. Thorkildsen will continue to be available to the Company in a function as

an alternate director. Mr. Thorkildsen is the CEO of Seadrill Management AS.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1457952]