SDRL – Mandatory notification of trade

Drew Investment Ltd, a company controlled by Seadrill Director Tor Olav Trøim, has settled a Total Return Swap (TRS) agreement underlying 400,000 shares expiring January 7, 2010 and subsequent entered into a new TRS agreement with exposure to the same number of underlying shares 400,000. New expiry date is April 7, 2010, and new TRS price is NOK148.9639. Trøim?s direct and indirect holding in Seadrill Limited following this transaction is 350,000 shares and 275,000 options. Trøim controls after this in addition TRS agreements with exposure to totally 400,000 shares in Seadrill Limited. These numbers remain unchanged after the transaction. January 7, 2010 This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1371533]