Subsea 7 S.A. Change of Control Notification US$300m 2.80% Convertible Notes due 2011

Luxembourg - January 11, 2011 - Subsea 7 S.A.
(the "Company") (NASDAQ-GS: SUBC; Oslo Børs: SUBC)
announces that pursuant to Condition 6(g) of the
US$300m 2.80% Convertible Notes Due 2011 the Company
has issued a Change of Control Notice.

The Change of Control Notice is herewith attached.

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Subsea 7 S.A. is a seabed-to-surface engineering,
construction and services contractor to the offshore
energy industry worldwide. We provide integrated
services, and we plan, design and deliver complex
projects in harsh and challenging environments.
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Contact:
Karen Menzel
Subsea 7 S.A.
+44 (0)20 8210 5568
karen.menzel@subsea7.com
www.subsea7.com

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