Safe Astoria option exercised

Shell Philippines Exploration B.V. has exercised the 30-day option with
commencement early May 2010 for the continued use of theSafe Astoria
accommodation support rig at the Malampaya Shallow Water Platform offshore
Palawan, Philippines. The value of the exercised option period is USD 3.6
million.

In addition, Prosafe has granted an additional 30-day option commencing June
2010 if exercised.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service rigs. Operating profit reached USD 232.2 million in 2008.
The company operates globally, employs approx. 400 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 January 2010
Prosafe SE


For further information, please contact:

Arne Austreid, President and CEO
Phone: +357 992 75 030

Karl Ronny Klungtvedt, EVP Strategy and Corporate Planning
Phone: +47 51 64 25 81 / +47 908 81 657


[HUG#1373400]