Prosafe SE - Capital/Financing Update 2015

Prosafe SE: Prosafe bond buy-back

Reference is made to our announcement 26 February 2015 regarding a contemplated

buy-back of up to NOK 500 million nominal outstanding amount of PRS07 (ISIN:

NO0010600299) senior unsecured bonds maturing 25 February 2016.

The "reverse Dutch auction" closed 16:00 CET 5 March 2015. Prosafe SE has

decided to accept all offers up to and including a price of 101.9% of par value

plus accrued unpaid interest ("the Buy-Back Price"). Prosafe SE hereby confirms

to buy back a nominal amount of NOK 240.5 million in PRS07 by paying the Buy-

Back Price.

Post cash settlement on 10 March 2015, Prosafe SE holds NOK 240.5 million

nominal of the total NOK 500 million nominal outstanding amount in PRS07.

Prosafe SE will not cancel or discharge the bonds bought back.

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

accommodation vessels. Operating profit reached USD 248.3 million in 2014 and

net profit was USD 178.8 million. The company operates globally, employs 650

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, 6 March 2015

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Sven Børre Larsen, Chief Financial Officer

Prosafe Management AS

Phone: 47 51 64 25 30 / +47 909 43 673

Cecilie Helland Ouff, Senior Manager - Finance and Investor Relations

Prosafe AS

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

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1900016]

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