8 October 2010 - Reference is made to the stock exchange notice of today regarding new share capital in BW Offshore Limited ("BW Offshore").
Prior to BW Offshore's voluntary exchange offer (the "Offer") for all of the issued and outstanding shares of Prosafe Production Public Limited ("Prosafe Production") not currently owned, directly or indirectly, by BW Offshore, BW Group Limited ("BW Group") owned 305,436,227 shares in BW Offshore. Following the delivery of 18,398,736 shares in BW Offshore to BW Group's wholly-owned subsidiary BW Euroholdings Limited, pursuant to the terms of the Offer, BW Group will own, directly or indirectly, 323 834 963 shares in BW Offshore.
The new number of issued and outstanding shares in BW Offshore following the issuance of shares to Prosafe Production shareholders that accepted the Offer is 672,897,795, and, accordingly, the direct and indirect shareholding of BW Group corresponds to approximately 48.1% of the total number of issued shares in BW Offshore.
This information is subject to the disclosure requirements pursuant to Sections 4-1 and 4-2 of the Norwegian Securities Trading Act.