Seadrill to Trade Ex-Dividend of Cash Dividend Sept. 22

Reference is made to the sale and leaseback transaction released September 16, 2008. Seadrill Limited will be trading ex-dividend of a cash dividend of US $0.30 per share on September 22, 2008. The record date is September 24, 2008, and the dividend will be paid on or about September 29, 2008.

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