Operational update for Q1 2010

Rig utilisation in the first quarter of 2010 was 73 per cent.

Safe Esbjerg was in operation until mid-February, when the jack-up rig was

mobilised to Gdansk to undertake class renewal, steel work and refurbishment.

The rig is expected to recommence operation in mid-April.

Safe Bristolia was in operation in Mexico until late January before the rig was

mobilised to the North Sea. The rig has a contract in the UK North Sea from the

beginning of April 2010.

Safe Scandinavia was idle in the first quarter. Safe Scandinavia has a firm

contract with Statoil, six months commencing early May 2010 and six months from

early April 2011.

Safe Concordia was idle in the first quarter and the rig is currently being

marketed for new employment.

All the other eight rigs have been fully utilised in the first quarter.

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, 8 April 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#1401329]

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