Reidar Lund, Chairman of Prosafe Production Public Limited, has been appointed to act as proxy without specific voting instructions for a total of 45,646,247 shares, or 17.89 % of the share capital at the annual general meeting to be held 11 May 2010.

The proxies are valid for this annual general meeting only.

Reidar Lund and related parties also hold 190,000 shares, bringing the total number of voting rights for Mr. Lund to 45,836,247 shares, or 17.96 % of the share capital.

The flagging limit exceeded is 15%.

In addition to the proxies without specific voting instructions, corresponding to17.89% of the share capital, Reidar Lund, Chairman of Prosafe Production Public Limited, has been appointed to act as proxy with specific voting instructions for a total of 26.65% of the share capital. This means that he has been appointed to act as proxy for a total of 44.54% of the share capital.

Limassol, 11 May 2010

Prosafe Production Public Limited