Sale of BWO shares

Prosafe SE has sold 6,716,396 shares in BWO and Prosafe Holding Ltd has sold

23,733,764 shares in BWO for a price of NOK 12.65 per share.

After this sale, Prosafe SE and Prosafe Holding Ltd do not hold any shares in

BWO.

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, 26 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 Ouff, Finance Manager

Phone: +47 51 64 25 20 / +47 99 10 94 67

[HUG#1455207]

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