MSV Regalia option exercised

BP Norge AS has exercised the six-month option with commencement January 2011

for the continued use of the MSV Regalia accommodation support rig at the

Valhall offshore facility in the Norwegian sector of the North Sea. The value of

the exercised option period is USD 43.9 million.

In addition, Prosafe has granted a four-month option, commencing July 2011 if

exercised, and an additional two-month option.

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 February 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#1381565]

AI Terminal