Prosafe subsidiaries change name

To enhance the Prosafe name within the international offshore community and to strengthen the corporate identity, Prosafe has decided to change the name of it's main subsidiaries.

With effect from 1 July 2001,
- Procon Drilling Services AS is named Prosafe Drilling Services AS
- Safe Service Ltd is named Prosafe Offshore Ltd
- Nortrans Offshore Ltd is named Prosafe Production Ltd

Prosafe is the world's leading owner and operator of semi-submersible service rigs, the largest platform drilling contractor in Norway and a major owner and operator of floating production vessels outside the North Sea. Operating revenues reached NOK 2.5 billion in 2000. The company employs approx. 1500 people. Prosafe operates in the North Sea, South East Asia, India, Egypt, West Africa, Azerbaijan and the Gulf of Mexico and is headquartered in Stavanger, Norway.

Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, check www.prosafecorp.com