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2016-03-14

Prosafe SE: Safe Scandinavia TSV has commenced mobilisation

Safe Scandinavia has successfully completed onshore acceptance testing and is
now mobilising to the Oseberg Øst installation to commence drilling support
operations for Statoil.

Prosafe is responsible for the provision of mud services to the Oseberg Øst
installation together with all marine operations of the tender support vessel
(TSV). The Safe Scandinavia will continue to perform accommodation duties to
support the installation via a telescopic gangway, affording the maximum
flexibility to Statoil.

The contract will commence upon completion of mobilisation, which is expected
towards the end of March.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. Operating profit reached USD 167 million in 2015 and
net profit was USD 85.6 million. The company operates globally, employs 850
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, 14 March 2016
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

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

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