Disclosure of large shareholdings - Subsea 7 SA (formerly Acergy AS)

Capital Research and Management Company ("CRMC") is a
U.S.-based investment adviser that manages the
American Funds family of mutual funds. CRMC does not
own shares of Subsea 7 SA for its own account.
Rather, the shares reported are owned by several
mutual funds managed by CRMC.

Pursuant to the Norwegian Securities Trading Act
Section 3-2 and Regulations of 18 December 2002, we
hereby disclose the following information:

Please note that this Notifications is not being
filed due to disposition of shares, Instead, the
recent increase in issued share capital has caused
our relative shareholding to decrease below the next
reportable threshold. On 10 January 2011 shares
amounted to 3,8176%. Please see attached Schedule A
for the details.

See attachment on [http://www.newsweb.no]