Prosafe Production Public Limited will publish its results for the fourth quarter of 2009 on 16 February. In connection with the release, management will hold a teleconference/webcast the same day at CET 1400 hours. To listen to the presentation there are two options available:

1.     Webcast

Please refer to link www.prosafeproduction.com to follow the webcast.

2.     Teleconference

Please call in at one of the following numbers:

Norway Toll Free           800 19640

International call            +44 20 7806 1951

UK Toll Free                  0800 028 1243

USA Toll Free                1888 935 4575

The participants will be asked for their name, company and conference ID code. The Prosafe Production conference ID code is: 2046791

There will be a Q&A session after the presentation.

In order to view the presentation held while listening to the conference, please download the presentation material from www.prosafeproduction.com.

The conference will be available for replay at www.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. The company has a good operational uptime track record and possesses a range of proprietary FPSO-related technologies. 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. Please refer to www.prosafeproduction.com for more details.

For further information please contact:

Bjørn Henriksen, President and CEO

Phone: +31 6105 32543

E-mail: bjorn.henriksen@prosafeproduction.com

Sven Børre Larsen, Executive VP and CFO

Phone: +65 9657 2590

E-mail: sven.larsen@prosafeproduction.com