Reference is made to the third quarter 2014 report. Premier Oil UK Limited has exercised the one month option for the provision of the Safe Scandinavia semi-submersible accommodation vessel at the Solan installation on the UK continental shelf.

The one month option extends on site operations through until end-February 2015 and has a total value of approximately USD 8.4 million.

Prosafe is the world`s leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 245.1 million in 2013 and net profit was USD 199.1 million. The company operates globally, employs 650 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.

Larnaca, 3 December 2014
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 70

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

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Prosafe SE via GlobeNewswire
HUG#1876461