Hamilton, Bermuda (April 16, 2012)

In connection with Archer’s option program, 199,998 options have been exercised at a strike price of NOK 10.00 per share. After these transactions, the total number of options outstanding in Archer Limited is 13,931,907.

In connection with the exercised options, Archer Limited has issued 199,998 common shares. The authorized share capital of Archer Limited is USD 1,200,000,000 divided into 600,000,000 common shares of par value USD 2.00 each. Fully paid and outstanding share capital of Archer Limited following the share capital increase is USD 733,218,240 divided into 366,609,120 fully paid common shares of par value of USD 2.00 each.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)