Prosafe SE: Prosafe appoints new Chief Financial Officer

Prosafe is pleased to announce the appointment of Stig H. Christiansen as new Chief Financial Officer for Prosafe Management AS. The effective date of Mr. Christiansen's employment is yet to be determined.

Mr. Christiansen brings with him more than 20 years of experience from management and finance positions in the oil and gas industry. Since 2009 he has been Chief Executive Officer of the international oil service provider Add Energy Group AS and before that he was Senior Vice President - Group Finance in the E&P company Statoil ASA. Mr. Christiansen was employed by Prosafe in the period from 1997 to 2005, the last five years of which as Chief Financial Officer for the Group.

Mr. Christiansen holds an MBA in International Business Economics from the University of Aalborg, Denmark, and is a Bachelor of Commerce from the University of Birmingham, UK.

"We are delighted to see Stig back in Prosafe. Not only does he know the company and the industry well from his years here, but he has also accumulated a wealth of knowledge and experience from other parts of the oil and gas value chain. His contribution has been important in past successes of Prosafe and we are looking forward to working together with him in developing the company further and continuing creating shareholder value," says Karl Ronny Klungtvedt, Chief Executive Officer, Prosafe Management AS.

The current Chief Financial Officer, Sven Børre Larsen resigned in late May (ref. announcement on 27 May 2015) to assume a similar position in TGS-NOPEC Geophysical Company.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 248.3 million in 2014 and net profit was USD 178.8 million. The company operates globally, employs 800 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, 3 July 2015
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: +47 51 64 25 00

Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.