Seadrill Limited — Director's Dealing 2011

Jan 7, 2011

SDRL - Mandatory notification of trade

Hamilton, Bermuda, January 7, 2011 - Drew Investment Ltd, a company controlled

by Seadrill Director Tor Olav Trøim, has settled a Total Return Swap (TRS)

agreement underlying 400,000 shares in Seadrill Limited expiring January

6th, 2011 and subsequently entered into a new TRS agreement with exposure to the

same number of underlying shares 400,000. New expiry date is April 6, 2011, and

new TRS price is NOK202,1628. Trøim's direct and indirect holding in Seadrill

Limited following this transaction is 635,000 shares. Trøim controls after this

in addition TRS agreements with exposure to totally 400,000 shares in Seadrill

Limited. These numbers remain unchanged after the transaction.

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

(Norwegian Securities Trading Act)

[HUG#1477875]