HAMILTON, Norway, March 31, 2006 (PRIMEZONE) -- Reference is made to the Mandatory offer document dated 2 March 2006 in which SeaDrill Limited ("SeaDrill") has offered to purchase all remaining shares in Smedvig ASA ("Smedvig") at a price of NOK 205 per Class A share and NOK 165 per Class B share.
The Mandatory offer period will expire today, 31 March 2006, at 22.00 CET.
Smedvig shareholders that want to accept the Mandatory offer, must fill out, sign and deliver the Acceptance Form enclosed in the Mandatory offer document.
The Acceptance Form must be received by Carnegie ASA before 22:00 CET at Carnegie ASA Stranden 1, P.O. Box 684 Sentrum, 0106 OSLO or by telefax: +47 22 00 99 60.
Settlement of Acceptances received will be made in NOK, and will be available on each accepting shareholders bank account on 7 April 2006 at the latest.
The Mandatory Offer is not open to residents of the United States. A separate offer ("the U.S. Offer"), dated 6 March 2006, is open only to residents of the United States. The U.S. Offer will expire on Monday, 3 April 2006, at 22.00 CET.
For Documentation and Acceptance Form for the U.S. Offer, please contact Georgeson Shareholder (the information agent) at telephone: (800) 414-4290 or (212) 440-9800. Acceptance Forms should be sent to Citibank, N.A. - Citibank Agency & Trust at Wall Street 15th Floor Zone 8, New York, NY 10005, by telefax: (212) 657-1020 or by telephone: (800) 422-2066.