Subsea 7 S.A. Veripos dividend-in-kind effect on Convertible Loan Notes

8/8/2012 2:00 AM EST

Luxembourg - August 8, 2012 - Subsea 7 S.A. (Oslo 
Børs: SUBC) (the "Company") announced today the 
impact of the Veripos Inc dividend-in-kind (payment 
date July 26 2012) on the conversion price of it 
convertible loan notes.

In accordance with their respective terms and 
conditions, the new conversion price of the $500 
million 2.25% convertible notes due 2013 will be 
$21.54 in accordance with Condition 6 (b) (iii) and 
the new conversion price of the $275 million 3.5% 
convertible loan note due 2014 will be $16.25 in 
accordance with clause 14.3.

******************************************************

Subsea 7 S.A. is a seabed-to-surface engineering, 
construction and services contractor to the offshore 
energy industry worldwide. 
We provide integrated services, and we plan, design 
and deliver complex projects in harsh and challenging 
environments.

*****************************************************

For further information, please contact:
Paul Gooden
Subsea 7 S.A.
+44 (0)20 8210 5568
 
www.subsea7.com