NADL - North Atlantic Drilling Ltd. files for initial public offering

Hamilton, Bermuda, November 11, 2013 - North Atlantic Drilling Ltd. (NADL, or the Company) announced today that it has filed its first amended registration statements with the United States Securities and Exchange Commission (SEC) in connection with its initial public offering and concurrent offer to exchange previously issued unregistered common shares, other than the common shares owned by affiliates of NADL, for common shares that have been registered under the Securities Act of 1933, as amended.  These filings follow NADL's announcement on October 11, 2013 that it would proceed with an independent listing of its shares on the New York Stock Exchange (NYSE). The initial public offering of NADL's common shares and concurrent exchange offer are expected to commence after the SEC completes its review process. The amended registration statements on Form F-1 (File No. 333-185394) and Form F-4 (File No. 333-185395) can be publicly accessed through the EDGAR system available at http://www.sec.gov. NADL has applied to list its common shares on the NYSE under the symbol "NADL".

Morgan Stanley will act as the Global Coordinator and Lead Bookrunner for the initial public offering. The offering of the common shares will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 will be made available when the SEC has completed its review process.

Registration statements relating to these securities have been filed with the SEC but have not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statements become effective. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statements, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About North Atlantic Drilling Ltd.
North Atlantic Drilling is a leading offshore harsh environment drilling company in which Seadrill Limited currently holds a 74 percent ownership interest. The Company has a fleet of seven harsh environment units in operation and two newbuilds under construction. North Atlantic Drilling is currently listed on the N-OTC list in Norway.

Forward-Looking Statements
This press release contains "forward-looking statements."  Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only NADL's belief regarding future results, many of which, by their nature are inherently uncertain and outside of NADL's control.  Actual results may differ, possibly materially, from those anticipated in these forward-looking statements.  For a discussion of some of the risks and important factors that could affect future results, see the discussion in NADL's registration statements, as amended, under the heading "Risk Factors."  NADL does not assume any obligation to update the information contained in this press release.

Contacts:
 
Rune Magnus Lundetræ
Chief Financial Officer
North Atlantic Management AS
+44 (0)20 8811 4778

Tore Byberg
VP Commercial Finance
North Atlantic Management AS
+47 51 30 95 42