Prosafe SE

Board/Management Information • Sep 13, 2010

BWO - Extension of offer period

NOT FOR PUBLIC DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES OF AMERICA, SOUTH AFRICA, CANADA, AUSTRALIA OR JAPAN

Extension of offer period

13 September 2010 - Reference is made to the offer document dated 27 July 2010

from BW Offshore Limited ("BW Offshore") regarding the voluntary exchange offer

(the "Offer") for all of the issued and outstanding shares of Prosafe Production

Public Limited not currently owned, directly or indirectly, by BW Offshore. The

initial acceptance period in the Offer (the "Offer Period") was from and

including 29 July 2010 to and including 25 August 2010 at 17:30 (CET). In a

stock exchange notice of 16 August 2010 it was announced that the Offer Period

was extended to 8 September 2010 at 17:30 CET. In a stock exchange notice of 8

September 2010 it was announced that the Offer Period was further extended to

10 September 2010 at 17:30 CET.

BW Offshore has decided to further extend the Offer Period by three business

days. Following this extension, the Offer Period will expire on 15 September

2010 at 17:30 (CET).

For further information, please contact:

Carl K. Arnet, CEO BW Offshore, +65 9630 3290

Knut R. Sæthre, CFO BW Offshore, +47 9111 7876

About BW Offshore

BW Offshore is one of the world's leading FPSO contractors and a market leader

within advanced offshore loading and production systems to the oil and gas

industry. BW Offshore has more than 25 years' experience and has successfully

delivered 14 FPSO projects and 50 turrets and offshore terminals. BW Offshore's

technology division APL has delivered solutions for production vessels, storage

vessels and tankers in a wide range of field developments. Adapting through

competence, in-house technology, solid project execution and operational

excellence, BW Offshore ensures that customer needs are met through versatile

solutions for offshore oil and gas projects. BW Offshore has a global network

with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore

has 1,100 employees and is listed on the Oslo Stock Exchange. For more

information, please visit www.bwoffshore.com and www.apl.no.

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

This announcement is not an offer for sale of any securities in the United

States. Securities may not be offered or sold in the United States absent

registration or an exemption from registration under the U.S. Securities Act. BW

Offshore has not registered and does not intend to register any portion of any

offering of shares in the United States or to conduct a public offering of any

securities in the United States.

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

(Norwegian Securities Trading Act)

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