North Sea contract for Safe Caledonia

Prosafe has been awarded a contract by BG International (CNS) Limited for the
provision of the Safe Caledonia accommodation rig for the Gaupe and other
projects in the North Sea.

The firm period of the contract is 9 months with on site operations planned to
commence March 2011. In addition Prosafe has granted four additional two-week
options.

Total value of the contract for the firm term is about USD 56 million.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service rigs. Operating profit reached USD 218.6 million in 2009.
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
towww.prosafe.com.

Larnaca, 11 August 2010
Prosafe SE


For further information, please contact:

Arne Austreid, President and CEO
Phone: +357 2462 1746 / +357 992 75 030

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

Robin Laird, President Offshore Support Services
Phone: +65 6559 1980 / +65 8127 2101


[HUG#1437039]