Prosafe SE (OSL:PRS) Prosafe has been awarded a contract by Mærsk Olie og Gas AS for the provision of the Safe Esbjerg accommodation jack-up in the Danish sector of the North Sea. The firm duration of the contract commencing June 2009 is two years with a one-year option.

Total value of the contract excluding the option period is about EUR 46 million.

Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 222.2 million in 2007. The company operates globally, employs approx. 430 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, 28 October 2008 Prosafe SE

For further information, please contact:

Arne Austreid, President and CEO Phone no: +357 992 75 030

Karl Ronny Klungtvedt, Exec. Vice President and CFO Phone no: +357 996 88 169

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

Prosafe SE

http://www.prosafe.com

ISIN: CY0100470919

Stock Identifier: XOSL.PRS

US: PSFSF.PK

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