SDR - Mandatory notification of trade

Hemen Holdings Ltd, a company indirectly controlled by trusts affiliated with

Seadrill's Chairman John Fredriksen and his family, has settled a Total Return

Swap agreement (TRS) underlying 3,500,000 shares in Seadrill Limited expiring

January 12, 2010. Hemen Holding Limited has subsequently entered into a new TRS

agreement with exposure to the same number of underlying shares 3,500,000. New

expiry date is April 12, 2010, and the new TRS price is NOK144.527 per share.

Hemen Holding Limited's affiliated ownership in Seadrill is following this

transaction unchanged 132,747,583 shares, constituting 33.26 percent of the

issued share capital. After this transaction, Hemen and John Fredriksen

indirectly and directly control further TRS agreements with total exposure to

3,500,000 shares in Seadrill Limited and options for further 350,000 shares.

January 13, 2010

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

(Norwegian Securities Trading Act)

[HUG#1372949]

AI assistant