Prosafe Makes Organizational Changes

Stig Christiansen, Executive Vice President & Chief Financial Officer (CFO) in Prosafe ASA, has accepted an offer for the position as Senior Vice President Finance in Statoil ASA. He will continue in his present position in Prosafe ASA until June 2005.

Bjørn Henriksen, who today is President in Prosafe Production in Singapore and previously was CFO in Prosafe ASA and President in Prosafe Offshore, will assume the position of Executive Vice President & Chief Financial Officer in Prosafe ASA as from June 2005. In addition, Bjørn Henriksen will have the responsibility for the follow-up and further development of Prosafe's Floating Production division.

Martin Kolnes, who today is Corporate Controller, will become Vice President Finance and Accounting, and Karl Ronny Klungtvedt, who today is Corporate Treasurer, will become Vice President Finance and Treasury.

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