Operational update for Q1 2011

Rig utilisation in the first quarter of 2011 was 61 per cent. Safe Esbjerg, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe Regency have been fully utilised in the first quarter. MSV Regalia operated for BP at Valhall on the Norwegian Continental Shelf from mid March. Safe Scandinavia operated for BP at Valhall on the Norwegian Continental Shelf until mid March. Safe Caledonia commenced operation for BG on the UK Continental Shelf in the beginning of March. Safe Astoria and Safe Bristolia were idle in the first quarter. MSV Regalia, Safe Scandinavia and Safe Caledonia have carried out parts of their annual maintenance work in the first quarter. Safe Bristolia has undertaken a five year Special Periodic Survey (SPS) during the first quarter. In the first quarter, Safe Concordia was mobilizing to Brazil and arrived in Rio de Janeiro on 10 April. The rig will go through the necessary approval process and is expected to commence on contract with Petrobras in the near future. Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 221.1 million in 2010. The company operates globally, employs 500 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, 15 April 2011 Prosafe SE For further information, please contact: Karl Ronny Klungtvedt, Chief Executive Officer Prosafe Management AS Phone: +47 51 64 25 81 / +47 908 81 657 Sven Børre Larsen, Chief Financial Officer Prosafe Management AS Phone: +47 909 43 673 Cecilie Ouff, Finance and IR Manager Prosafe AS Phone: +47 51 64 25 20 / +47 991 09 467 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Prosafe SE via Thomson Reuters ONE [HUG#1506884]