Contract extension for Jasminia

Prosafe and Interpetroleum Services Limited have agreed to extend the bareboat

contract for use of the semi-submersible accommodation rig Jasminia in the

Cantarell field for Pemex in Mexico with 159 days.

This is the first of a series of mutually agreeable extensions with a duration

of up to six months each. If all extensions are agreed, the contract will run

until mid-February 2013.

The contract runs now until 8 June 2011. The value of the extension of the

bareboat contract is about USD 7.2 million.

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, 30 September 2010

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, EVP Strategy and Corporate Planning

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

Robin Laird, President Offshore Support Services

Phone: +65 6559 1980 / +65 8127 2101

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1447819]

AI Terminal