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2015-05-27

Prosafe SE: Management change

Sven Børre Larsen has decided to resign from his position as Chief Financial
Officer of Prosafe Management AS to take on the role as Chief Financial
Officer in TGS-NOPEC Geophysical Company in Asker, Norway. The last day of
employment is yet to be decided.

"I would like to thank Sven Børre Larsen for his efforts during his tenure at
Prosafe. Mr. Larsen has contributed greatly to the progress of the company,
and we wish him the best of luck in his new role," says Karl Ronny
Klungtvedt, CEO of Prosafe Management AS.

A process of finding Mr. Larsen's replacement has been initiated.

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 May 2015
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

Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 991 09 467

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

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