Prosafe SE

Regulatory Filings • Jul 13, 2010

Operational update for Q2 2010

Rig utilisation in the second quarter of 2010 was 87 per cent.

Safe Scandinavia commenced operations for Statoil end-April.

Safe Esbjerg recommenced operations for Maersk mid-April, after completing a

successful yard-stay related to the planned Special Periodic Survey.

Safe Caledonia was in operation for Total until mid-June, when an incident

during relocation lead to minor damages to the starboard column/pontoon. As a

precautionary measure, the vessel was taken to sheltered waters for necessary

repairs, resulting in 8 days with loss of dayrate and an estimated additional

cost of around USD 2 million (including crew-, mobilisation- and yard cost).

Safe Caledonia recommenced operations for Total end-June.

Safe Astoria was in operation for Shell until end-June.

Safe Concordia was idle in the second quarter.

All other rigs have been fully utilised in the second 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, 13 July 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: +47 908 81 657

[HUG#1431208]