Organisational changes

Prosafe is implementing two organisational changes to strengthen the corporate

management team.

Sven Børre Larsen has been appointed as Chief Financial Officer, and will join

the company on 1 January 2011.

Sven Børre Larsen (born 1976) was most recently CFO of Prosafe Production Pte

Ltd, and has prior to that been a financial analyst with First Securities,

Danske Markets and Fearnley Fonds. He holds a Master of Science in Business from

Bodø Graduate School of Business.

Martin Kolnes, presently Chief Financial Officer, will from 1 January 2011 take

the role as Director of Corporate Accounting and Tax.

Martin Kolnes (born 1969) joined Prosafe in 1998 and has held several positions

within Finance and Accounting. He graduated as a state authorised accountant

from the Norwegian School of Economics and Business Administration in Bergen,

Norway.

Prosafe is the world's leading owner and operator of semi-submersible

accommodation/service rigs. Operating profit reached USD 218.6 million in 2009.

The company operates globally, employs approx. 400 people and is headquartered

in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker

code PRS. For more information, please refer to www.prosafe.com.

Larnaca, 20 December 2010

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer

Phone: +357 9968 8169

Cecilie Ouff, Finance and IR Manager

Phone: +47 51 64 25 20 / +47 99 10 94 67

[HUG#1474036]

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