PROD - Prosafe Production Public Limited to evaluate strategic alternatives

The board of directors (the "Board") of Prosafe Production Public Limited
(the "Company") has been notified that BW Offshore Limited intends to
put forward a voluntary offer for all outstanding shares of the Company.
In response to the intended offer, the Board has appointed Pareto
Securities AS ("Pareto") and First Securities ASA ("First") as its financial
advisors (the "Advisors"). With assistance from its Advisors, the Board
will evaluate the Company's strategic and financial options in order to
maximize value for all shareholders of the Company.


Contacts:

Bjørn Henriksen, President and CEO
Phone: +31 6105 32543
E-mail: bjorn.henriksen@prosafeproduction.com

Sven Børre Larsen, Executive VP and CFO
Phone: +31 6515 65186
E-mail: sven.larsen@prosafeproduction.com



About Prosafe Production

Prosafe Production is a leading owner and operator of Floating Production,
Storage and Offloading vessels (FPSOs). Prosafe Production has 25 years
of operational experience from several of the world's largest oil and gas
provinces. Prosafe Production operates globally and employs
approximately 1,000 employees from more than 40 countries.
Headquartered in Limassol, Cyprus, Prosafe Production is listed on the
Oslo Stock Exchange with ticker code PROD.

Limassol, 22 June 2010


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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