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2014-04-14

Prosafe SE: Safe Bristolia work program increased and contract extension for Safe Astoria

Reference is made to press release dated 21January 2013. Prosafe and BG Group
have agreed a change to the Safe Bristolia accommodation support vessel work
programme in 2014 to allow inclusion of a contract award from ConocoPhillips
Petroleum Company U.K. Limited for the provision of the vessel at the Judy
platform in the U.K. sector of the North Sea.

Operations at Judy are planned to commence in May for a firm period of 4
months. Thereafter, from September 2014, the Safe Bristolia will relocate to
BG Group's Everest platform for a firm period of approximately 3 months. As a
result, the overall work programme for the vessel increases by 24 days and
has a value of approximately USD 8.3 million.

Reference is made to the press release dated 19 December 2013, in which
Prosafe announced the award of a 60-day contract by Swiber for Safe Astoria.
The contract has been extended by a firm period of 43 days at the same
dayrate. The contract value of the extension is USD 4.7 million.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service rigs. Operating profit reached USD 245.1 million in
2013 and net profit was USD 199.1 million. The company operates globally,
employs 595 people and is headquartered in Larnaca, Cyprus. Prosafe is listed
on the Oslo Stock Exchange with ticker code PRS. For more information, please
refer to www.prosafe.com.

Larnaca, 14 April 2014
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 30

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20/ +47 99 10 94 67

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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