Operational update for Q3 2010

Rig utilisation in the third quarter of 2010 was 80 per cent.

Safe Lancia was in operation in Mexico until 6 August and commenced a new

contract in Mexico on 19 August.

Safe Caledonia was in operation until mid-September.

Safe Concordia and Safe Astoria were idle in the third quarter.

All other eight rigs have been fully utilised in the third 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 October 2010

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer

Phone: +357 2462 1982 / +357 9968 8169

Martin Kolnes, Vice President and Chief Financial Officer

Phone: +357 2462 5490 / +357 9968 8991

Cecilie Helland Ouff, Finance Manager

Phone: +47 51 64 25 20 / +47 991 09 467

[HUG#1450112]

AI Terminal