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2016-01-27

Prosafe SE: Delivery of Safe Zephyrus

Prosafe has taken delivery of Safe Zephyrus today. The final delivery
instalment of the Safe Zephyrus has been reduced by USD 30 million. This
represents a seller's credit from Jurong Shipyard Pte Ltd., to be repaid in a
single payment on or before 15 June 2017.

Safe Zephyrus is scheduled to commence a contract in Norway early Q3 2016.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. Operating profit reached USD 248.3 million in 2014 and
net profit was USD 178.8 million. The company operates globally, employs 800
people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo
Stock Exchange with ticker code PRS. For more information, please refer
towww.prosafe.com

Larnaca, 27 January 2016
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 00

Stig Harry Christiansen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 17

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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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: Prosafe SE via Globenewswire

HUG#1981561

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