Disclosure of sale of large shareholding

1/17/2013 2:23 AM EST

Funds managed by Brigade Capital Management, LLC have 
on 16 January 2013 sold 2 000 000 shares in 
Prospector Offshore Drilling SA (PROS) (including 1 
943 505 out of Brigade Leveraged Capital Structures 
Fund Ltd.).  After the transaction, funds managed by 
Brigade Capital Management, LLC hold a total of 4 500 
872 shares in PROS, corresponding to 4.76 % of the 
shares and votes (including Brigade Leveraged Capital 
Structures Fund Ltd.'s position of 2 979 456 shares 
in PROS, corresponding to 3.15% of the shares and 
votes).  The percentage has been calculated based on 
94 497 958 issued shares in PROS.

The shares remaining are held by the following funds: 

Brigade Leveraged Capital Structures Fund Ltd. - 2 
979 456  shares
Brigade Credit Fund I Ltd. - 637 000 shares
Brigade Distressed Value Master Fund Ltd. - 884 416 
shares

Both Brigade Capital Management, LLC and Brigade 
Leveraged Capital Structures Fund Ltd. are now below 
5% of the shares and votes of PROS.