Prosafe SE : Prosafe SE raises NOK 590 million in private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN,
OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Prosafe SE ("Prosafe" or the "Company") today announces that the Company has
raised NOK 590 million in gross proceeds through a private placement of
23,597,300 new shares, each with a par value of EUR 0.25 at a subscription price
of NOK 25 per share, representing a premium of 4.6% to the closing price 3
December 2015 (the "Private Placement").

The Private Placement took place through a Bookbuilding process managed by ABG
Sundal Collier ASA, Nordea Markets, Pareto Securities AS, Danske Bank and DNB
Markets as Joint Bookrunners. The Private Placement, which represents
approximately 9.99% of the current outstanding shares, was over-subscribed at
the subscription price and supported by existing and new institutional
investors.

The proceeds from the Private Placement will be used to strengthen the Company's
balance sheet and liquidity position as well as for general corporate purposes.
The proceeds will further strengthen the Company's ability to work proactively
with all stakeholders, and allow the Company to be in a better position to
execute on preferred initiatives in the near term challenging market.

The new shares will be issued pursuant to an authorisation granted by the annual
general meeting of the Company on 13 May 2015.

Notification of allotment and payment instructions for the Private Placement has
been sent to the applicants today through a notification issued by the Joint
Bookrunners. The allocated shares in the Private Placement will be tradable on
the Oslo Stock Exchange on or about 7 December 2015. The shares are expected to
be delivered to investors on 8 December 2015, subject to timely payment.

Larnaca, 4 December 2015
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 00

Stig Harry Christiansen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 00 / +47 478 07 813

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20 / +47 991 09 467

About Prosafe:
Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. Operating profit reached USD 248 million in 2014 and net
profit was USD 179 million. The company operates globally, employs 800 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

***

IMPORTANT INFORMATION
This press release is for information purposes only and shall not constitute or
be construed as an offer to buy, sell, issue, or subscribe for, or the
solicitation of an offer to buy, sell, issue, or subscribe for any securities,
nor shall there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. Copies of this
announcement are not being made and may not be distributed or sent into the
Australia, Canada, Hong Kong, Japan, the United States or any other jurisdiction
in which such distribution would be unlawful or would require registration or
other measures.

The shares referred to herein have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws, and will be sold within the United States only to
qualified institutional buyers ("QIB"), as defined in Rule 144A under the U.S.
Securities Act ("Rule 144A"), through affiliates of the managers, in reliance
upon the exemption from the registration requirements provided by section 4(2)
of the U.S. Securities Act Rule 144A, and to certain non-U.S. persons in
offshore transactions in reliance on Regulation S under the U.S. Securities Act.
The shares to be offered will be subject to certain restrictions on transfer.

Certain statements contained herein that are not statements of historical fact,
may constitute forward-looking statements. Forward -looking statements involve
known and unknown risks, uncertainties and other factors that could cause the
actual results or events concerning the Company to be materially different from
the historical results or from any future results expressed or implied by such
forward-looking statements. None of the Company, the managers or any of their
affiliates or advisors provide any assurance that the assumptions underlying
such forward-looking statements are free from errors nor do any of them accept
any responsibility for the future accuracy of the opinions expressed in this
press release or the actual occurrence of the forecasted developments. Except as
may be required by applicable law or stock exchange regulation, neither the
Company nor the managers, or any of their affiliates or advisors, assume any
obligation to update any forward-looking statements or to confirm these forward-
looking statements to actual results.


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


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