SOURCE: Seadrill Limited

June 11, 2008 03:00 ET

SDRL - Mandatory notification of trade

HAMILTON, BERMUDA--(Marketwire - June 11, 2008) -


Hemen Holdings Ltd, a company indirectly controlled by Seadrill's Chairman John Fredriksen, has settled a TRS agreements expiring June 10 and subsequent entered into a new TRS agreement with exposure to the same number of Seadrill underlying shares 200,000. New expiry date is December 11, 2008, and new TRS price is NOK163.54.

Hemen Holding`s and John Fredriksen's ownership in Seadrill is following this transaction unchanged 132,747,583 shares, constituting 33.26 percent of the issued share capital. Hemen Holding controls after this in addition TRS agreements with exposure to totally 3,850,000 shares in Seadrill Limited and options for further 350,000 shares. These numbers remain unchanged after the transaction.

Drew Investment Ltd, a company controlled by Seadrill Director Tor Olav Trøim, has settled a TRS agreements expiring June 10 and subsequent entered into a new TRS agreement with exposure to the same number of underlying shares 200,000. New expiry date is December 11, 2008, and new TRS price is NOK 163.54. Trøim`s direct and indirect holding in Seadrill Limited following this transaction is 250,000 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.


Seadrill Limited
Hamilton, Bermuda
June 11, 2008

Analyst contact
Jim Daatland
VP Investor Relations
Seadrill Management AS
+47 51 30 99 19





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