Seadrill Limited — Director's Dealing 2010

Nov 16, 2010

SDRL - Mandatory notification of trade

Limassol, Cyprus, November 16, 2010 - Farahead Investments Inc., a company

indirectly controlled by trusts affiliated with John Fredriksen and his family,

has borrowed 3,700,000 shares in Seadrill Limited ("Seadrill") from Hemen

Holding Limited, another company indirectly controlled by trusts affiliated with

Mr. Fredriksen and his family.

The loan is made for a fixed period of 12 months with a right of renewal.

The overall ownership interest of the trusts affiliated with Mr. Fredriksen and

his family in Seadrill is not influenced by the transaction.

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

(Norwegian Securities Trading Act)

[HUG#1462989]