SBM OFFSHORE STATEMENT ON RECENT MEDIA REPORTS February 7, 2014

SBM OFFSHORE STATEMENT ON RECENT MEDIA REPORTS February 7, 2014  SCHIEDAM, Netherlands, Feb. 7, 2014 (GLOBE NEWSWIRE) -- The publication shows great similarity to an e-mail attachment the Company received from a former employee shortly before the publication was posted online. The former employee concerned left the Company in June 2012 on the basis of a mutually agreed upon termination initiated by himself.  Following his departure, the  Company had no contact  with the employee  until  March 2013. At that time, the  employee attempted extortion by threatening  to  make disclosures  based on  his  interpretation of  certain materials  he  had  illegally obtained or  retained. A  representative of  the employee  indicated  that he would be prepared not to do  so if the Company would make payments  in  the amount of some €3 million.  SBM Offshore refused  to entertain  the former employee's  threat. Upon  being  notified of the Company's decision,  the publication was posted on  Wikipedia.  The Company will be taking steps against the former employee.  The allegations  now  made  by  the  former  employee  relate  to  an  ongoing  investigation into potentially improper sales practices. The investigation  is  being conducted by  outside counsel  and forensic accountants  which has  been  publicly disclosed and of which  the competent authorities and investors  have  been informed by the Company for over eighteen months.The Company remains  in  active dialogue with  these authorities. As  mentioned by the  Company in  its  comments to  yesterday's  2013  earnings release,  the  investigation  centers  around potentially improper sales practices in two countries in Africa, and in one other  country outside  of Africa.  As previously  stated, it  is not  yet  possible to  provide  further information  or  an estimate  of  the  potential  outcome, financial or otherwise.  The document published  on the internet  is not a  Company produced  document.  Since the investigation is still ongoing,  SBM Offshore cannot comment on  its  contents, however it is safe to note that it is partial, taken out of  context  and to  the  extent  factually  correct,  is outdated.  As  such,  it  is  not  representative  of  the  facts  as  the  Company  understood  them  then,   or  understands them now. The Company denies any allegations of containment.  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, February 7, 2014  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/1760034/595508.pdf  HUG#1760034