Subsea 7 — M&A Activity 2010

Jun 21, 2010

Acergy and Subsea 7 Agree to Combine

June 21, 2010 - Acergy S.A. ("Acergy") (NASDAQ-GS:

ACGY; Oslo Stock Exchange: ACY) and Subsea 7 Inc.

("Subsea 7") (Oslo Stock Exchange: SUB) today

announced that their Boards of Directors have agreed

to combine the two companies.

For further information see attached Joint Press

Release and Presentation.

Contact:

Acergy:

Karen Menzel +44 (0)20 8210 5568 (Analysts and Media)

Or,

Subsea 7:

Barry Mahon +44 (0) 1224 526147 (Analysts)

Jackie Doyle +44 (0) 7880 700044 (Media)