SBM OFFSHORE UPDATE ON SALE OF DSCV SBM INSTALLER

SBM OFFSHORE UPDATE ON SALE OF DSCV SBM INSTALLER

SCHIEDAM, Netherlands, Dec. 16, 2013 (GLOBE NEWSWIRE) --

December 16, 2013

SBM Offshore ("the Company") refers to its press release of November 11,  2013 
and to Daya  Materials Berhad's  ("DMB") announcement  earlier this  afternoon 
concerning the sale of the DSCV SBM Installer to Daya Vessels Limited ("DVL").

The memorandum of agreement ("MOA") entered  into between the Company and  DVL 
was subject to DVL securing  transaction financing. Although the Company  over 
the past month granted  DVL a series  of extensions of time  to permit DVL  to 
fulfil its obligations  under the  terms of the  MOA in  relation to  securing 
financing and the provision  of security, DVL has  continually failed to  meet 
its pertinent  obligations  in breach  of  the MOA.  It  is clear  from  DMB's 
announcementof earlier  today that  DMB has  no intention  to permit  DVL  to 
honour the MOA, leaving the Company no alternative but to seek legal recourse.

Meanwhile, the Company has reopened the sale of the DSCV SBM Installer with  a 
view to securing a new purchaser shortly.

Corporate Profile

SBM Offshore  N.V.  is a  listed  holding  company that  is  headquartered  in 
Schiedam. It  holds direct  and  indirect interests  in other  companies  that 
collectively with  SBM  Offshore  N.V.  form  the  SBM  Offshore  Group  ("the 
Company").

SBM Offshore provides  floating production  solutions to  the offshore  energy 
industry, over the full product life-cycle.  The Company is market leading  in 
leased floating production systems with multiple units currently in operation,
and has unrivalled operational  experience in this  field. The Company's  main 
activities are  the  design,  supply, installation,  operation  and  the  life 
extension of Floating Production, Storage and Offloading (FPSO) vessels. These
are either owned and  operated by SBM  Offshore and leased  to its clients  or 
supplied on a turnkey sale basis.

Group companies employ over 9,600 people  worldwide, who are spread over  five 
execution centres, eleven operational shore bases, several construction  yards 
and  the   offshore  fleet   of   vessels.  Please   visit  our   website   at 
www.sbmoffshore.com.

The companies  in  which  SBM  Offshore  N.V.  directly  and  indirectly  owns 
investments are separate  entities. In  this communication  "SBM Offshore"  is 
sometimes used for convenience where references are made to SBM Offshore  N.V. 
and its  subsidiaries in  general, or  where no  useful purpose  is served  by 
identifying the particular company or companies.

The Management Board

Schiedam, December 16, 2013

For further information, please contact:

Investor Relations
Nicolas D. Robert
Head of Investor Relations

Telephone: +377 92 05 18 98
Mobile:    +33 (0) 6 40 62 44 79
E-mail:    nicolas.robert@sbmoffshore.com
Website:   www.sbmoffshore.com

Media Relations
Anne Guerin-Moens
Group Communications Director

Telephone: +377 92 05 30 83
Mobile:    +33 (0) 6 80 86 36 91
E-mail:    anne.guerin-moens@sbmoffshore.com
Website:   www.sbmoffshore.com

Disclaimer

Some of the statements contained in this release that are not historical facts
are statements  of future  expectations and  other forward-looking  statements 
based on  management's current  views and  assumptions and  involve known  and 
unknown risks and uncertainties that could cause actual results,  performance, 
or  events  to  differ  materially   from  those  in  such  statements.   Such 
forward-looking statements  are subject  to various  risks and  uncertainties, 
which may cause actual  results and performance of  the Company's business  to 
differ materially and adversely  from the forward-looking statements.  Certain 
such  forward-looking   statements   can  be   identified   by  the   use   of 
forward-looking terminology  such  as  "believes",  "may",  "will",  "should", 
"would be", "expects" or "anticipates" or similar expressions, or the negative
thereof, or  other  variations  thereof,  or  comparable  terminology,  or  by 
discussions of strategy,  plans, or intentions.  Should one or  more of  these 
risks or  uncertainties materialize,  or should  underlying assumptions  prove 
incorrect, actual results  may vary  materially from those  described in  this 
release as  anticipated,  believed, or  expected.  SBM Offshore  NV  does  not 
intend, and does not assume any obligation, to update any industry information
or forward-looking statements set forth in this release to reflect  subsequent 
events or circumstances.

To see the complete version  of this press release,  please click on the  link 
below

SBM Offshore Press Release http://hugin.info/130754/R/1750244/589716.pdf

HUG#1750244
 
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