SDRL - Mandatory notification of trade

Limasol, Cyprus, April 13, 2010 - 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 April 12, 2010. Hemen Holding Limited has in

connection with the private placement in Seadrill participated in the

subscription and been allocated 400.000 shares. This exposure has subsequently

been arranged as TRS agreement. In addition Hemen has acquired another new TRS

agreement with exposure to 3,500,000 shares. Expiry date for the total TRS with

exposure to 3,900,000 shares is July 12, 2010, and the TRS price is NOK153.258

per share. Hemen Holding Limited's and John Fredriksen's ownership in Seadrill

is following this transaction 133,097,583 shares, constituting 32.28 percent of

the issued share capital. In addition, Hemen indirectly and directly control TRS

agreements with total exposure to 3,900,000 shares in Seadrill Limited.

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

(Norwegian Securities Trading Act)

[HUG#1402913]

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