Conditional pre-acceptance

Reference is made to the announcement by BW Offshore Limited ("BWO") today,

whereby BWO has adjusted the consideration offered under its voluntary exchange

offer for the shares of Prosafe Production Public Limited ("Prosafe Production"

or "PROD") to 1.2 BWO shares and NOK 3.00 per PROD share.

Prosafe SE and Prosafe Holdings Ltd have given conditional pre-acceptances to

tender all their 25,375,142 shares in Prosafe Production, representing approx

9.94% of the outstanding shares and votes, into the offer. Subject to and

following completion of the offer, Prosafe SE and Prosafe Holdings Ltd will not

hold any shares of Prosafe Production.

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, 16 September 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

[HUG#1444745]

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