Seadrill Increases Number of Listed Shares

Reference is made to the earlier announcement regarding the approved prospectus for the listing of 134,000,000 shares in Seadrill Limited on the Oslo Stock Exchange. The new shares will be listed on Oslo Bors as from July 10th.

Seadrill Limited has as previously reported, increased its share capital by US $268,000,000 through the issuance of 134,000,000 new shares in three private placements in January, February and April 2006.

The new shares in Seadrill Limited have until now been registered in Verdipapirsentralen with an ISIN-number separate from the company's listed shares, pending completion of the prospectus by the company and approval of the prospectus by Oslo Bors. As a consequence of the approved prospectus, the new shares will as from the opening of trading on July 10, 2006 be listed on Oslo Bors and registered under the company's regular ISIN-number.