Sevan Drilling Ltd: Change to the Board of Directors

Hamilton, Bermuda, March 14, 2016 - Sevan Drilling Limited ("the Company") announces today that Kristian Johansen has decided to resign as Director of the Company due to his recent appointment as Chief Executive Officer in TGS-NOPEC Geophysical Company ASA. The Board of Sevan Drilling expresses their appreciation to Mr. Johansen for his contributions since joining the Board in 2012 and would like to congratulate him on his new position.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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