Seadrill Limited — Director's Dealing 2010

Sep 27, 2010

SDRL - Mandatory notification of trade

Hamilton, Bermuda, September 27, 2010 - In connection with the Company's

Employee Share Ownership Plan (ESOP), eligible option holders have exercised

options to acquire 134,400 common shares at strike price ranging from NOK65.09

to NOK104.64 per share. To meet its obligation, Seadrill has reduced its holding

of treasury shares from 721,233 shares to 586,833 shares.

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

(Norwegian Securities Trading Act)

[HUG#1446939]