Prosafe Production Public Limited (OSL:PROD) PROD: Q3 2008 Results And Webcast On 5 November 2008

Prosafe Production Public Limited (OSL:PROD) Prosafe Production Public Limited informs that the results for the third quarter of 2008 will be published on 5 November 2008 at approx. 8:00 a.m. CET. Bjørn Henriksen, President & CEO and Sven Børre Larsen, Executive VP & CFO will the same day at 02:00 p.m. CET give a presentation of the result at the Hotel Continental, Stortingsgt. 24/26 in Oslo.

The presentation can be followed live via web streaming at http://www.prosafeproduction.com. It will also be possible to ask questions via e-mail during the presentation. You will find a link to the web cast on the main page of Prosafe Production's web site.

Prosafe Production is a major owner and operator of floating production and storage vessels. Operating profit before depreciation reached USD 71.6 million in first half 2008. The company operates globally and employs approx. 1,200 people, and is headquartered in Limassol, Cyprus. Prosafe Production Public Limited is listed on the Oslo Stock Exchange with ticker code PROD.

For more information, please refer to www.prosafeproduction.com

Limassol, 16 October 2008 Prosafe Production Public Limited

For further information please contact:

Bjørn Henriksen, President and CEO Phone: +65 9751 8460

Sven Børre Larsen, Executive VP and CFO Phone: +65 9657 2590

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Prosafe Production Public Limited
http://www.prosafeproduction.com

ISIN: CY0100610910

Stock Identifier: XOSL.PROD