Update on Merger with Prosafe - competition process

The Norwegian Competition Authority (“NCA”) has today issued a Statement of rejection to Floatel and Prosafe regarding the proposed merger.

Floatel and Prosafe will study the decision in detail and expect to decide on whether to appeal shortly.

For further information, please contact:

Peter Jacobsson, CEO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 76 856 36 18

Tomas Hjelmstierna, CFO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 70 261 09 01