Safe Astoria option exercised

Shell Philippines Exploration B.V. has exercised the 30-day option with

commencement early May 2010 for the continued use of theSafe Astoria

accommodation support rig at the Malampaya Shallow Water Platform offshore

Palawan, Philippines. The value of the exercised option period is USD 3.6

million.

In addition, Prosafe has granted an additional 30-day option commencing June

2010 if exercised.

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, 14 January 2010

Prosafe SE

For further information, please contact:

Arne Austreid, President and CEO

Phone: +357 992 75 030

Karl Ronny Klungtvedt, EVP Strategy and Corporate Planning

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

[HUG#1373400]

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