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2014-05-15

Archer Limited : First Quarter 2014 Results

Hamilton, Bermuda (May 16, 2014)

First Quarter 2014 highlights

* First quarter revenue from continuing operations of $504.8 million.
* First quarter EBITDA from continuing operations at $39.5 million including
a $3.6 million charge for restructuring costs.
* Net loss for the quarter of $8.5 million.
* First quarter operational cash flow of $31.5 million.
* Net interest-bearing debt of $745.4 million at March 31, 2014

In connection with the earnings release, a conference call will be held at
7:00 Houston time, 13:00 London time, 14:00 Oslo time on Friday May 16, 2014.

For information on how to attend the webcast, detailed information is found on
our webpage;http://www.archerwell.com/page/48/webcast.htm

Questions should be directed to:
David King, Chief Executive Officer
Christoph Bausch, Chief Financial Officer
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

2014 1Q Results
http://hugin.info/143663/R/1786150/612744.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Archer Limited via Globenewswire

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