The board of directors (the “Board”) of Prosafe Production Public Limited (the “Company”) has been notified that BW Offshore Limited intends to put forward a voluntary offer for all outstanding shares of the Company.

In response to the intended offer, the Board has appointed Pareto Securities AS ("Pareto") and First 
Securities ASA (“First”) as its financial advisors (the “Advisors”). With assistance from its Advisors, the Board 
will evaluate the Company’s strategic and financial options in order to maximize value for all shareholders 
of the Company.

Contacts:

Bjørn Henriksen, President and CEO
Phone: +31 6105 32543
E-mail: bjorn.henriksen@prosafeproduction.com

Sven Børre Larsen, Executive VP and CFO
Phone: +31 6515 65186
E-mail: sven.larsen@prosafeproduction.com


About Prosafe Production

Prosafe Production is a leading owner and operator of Floating Production, Storage and Offloading 
vessels (FPSOs). Prosafe Production has 25 years of operational experience from several of the world's 
largest oil and gas provinces. Prosafe Production operates globally and employs approximately 
1,000 employees from more than 40 countries. Headquartered in Limassol, Cyprus, Prosafe Production 
is listed on the Oslo Stock Exchange with ticker code PROD.

Limassol, 22 June 2010