Reference is made to the stock exchange notice regarding the completed private
placement in Archer Limited (the "Company"). Kistefos AS og Kistefos Investment
AS (together "Kistefos") have today been allocated 858,974 shares and 314,000
shares in the private placement of the Company. Kistefos will after the private
placement own 3,708,974 shares which is 5.71% of the total outstanding shares in
the Company, prior to the issuance of the shares in Tranche 1 and Tranche 2.
Kistefos' ownership will decrease to 4.73% after the issuance of the Tranche 1
Shares and the ownership will further decrease to 4.15% after the issuance of
the Tranche 2 Shares, subject to approval by the Special General Meeting. All of
the shares will be set in forward contracts
This announcement is published in accordance with section 4-2 of the Norwegian
Securities Trading Act