Operational update for Q4 2009

Rig utilisation in the fourth quarter of 2009 was 84 per cent. The rig

utilisation for the year 2009 was 86 per cent.

Safe Scandinavia completed its operation in the UK North Sea at the start of

October. Thereafter, the rig was mobilised to Invergordon, Scotland. Safe

Scandinavia has a firm contract with Statoil, six months commencing early May

2010 and six months commencing early April 2011.

Safe Concordia completed its assignment in Mexico early October and the rig is

currently being marketed for new employment.

All other vessels have been fully utilised in the fourth quarter.

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

accommodation/service rigs. Operating profit reached USD 232.2 million in 2008.

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, 8 January 2010

Prosafe SE

For further information, please contact:

Arne Austreid, President and CEO

Phone: +357 2462 1746 / +357 992 75 030

Karl Ronny Klungtvedt, EVP Strategy and Corporate Planning

Phone: +47 51 64 25 81/+47 908 81 657

Cecilie Helland Ouff, Finance Manager

Phone: +47 51 64 25 20/ +47 991 09 467

[HUG#1371578]

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