Seadrill Limited (OSL:SDRL) Drew Investment Ltd, a company controlled by Seadrill Director Tor Olav Trøim, has through market purchases October 16, 2008 purchased 25,000 ordinary shares in Seadrill Limited at a price of NOK60.12 per share.

Trøim's direct and indirect holding in Seadrill Limited following this transaction is 350,000 shares and 275,000 options. Trøim controls in addition TRS agreements with exposure to totally 400,000 shares in Seadrill Limited.

Seadrill Limited Hamilton, Bermuda October 16, 2008

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Seadrill Limited

http://www.seadrill.bm

ISIN: BMG7945E1057

Stock Identifier: XOSL.SDRL

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