Prosafe SE: Contract award for Safe Scandinavia

7/31/2012 2:41 AM EST

Prosafe has been awarded a contract by an undisclosed client for the provision
of the Safe Scandinavia accommodation support rig at a project in the British
sector of the North Sea. The firm period of the contract is 187 days with on-
site operations planned to commence April 2013.

Total value of the contract for the firm period is about USD 58.1 million.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service rigs. Operating profit reached USD 192.3 million in 2011.
The company operates globally, employs 550 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, 31 July 2012
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 81

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


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


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