Hamilton, Bermuda (September 24, 2012)

Archer Limited (the “Company”) advises that the 2012 Annual General Meeting of the Company was held on September 21, 2012 at 10:10 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG06, Bermuda.  The following resolutions were passed:

1)   To re-elect Saad Bargach as a Director of the Company.

2)   To re-elect Fredrik Halvorsen as a Director of the Company.

3)   To re-elect Tor Olav Trøim as a Director of the Company.

4)   To re-elect Kate Blankenship as a Director of the Company.

5)   To re-elect Cecilie Fredriksen as a Director of the Company.

6)   To re-elect Alejandro P. Bulgheroni as a Director of the Company.

7)   To re-elect Giovanni Dell’Orto as a Director of the Company.

8)   To re-elect John Reynolds as a Director of the Company.

9)   To re-appoint PricewaterhouseCoopers AS as auditor and to authorise the Directors to determine their remuneration

10) That the remuneration payable to the Company’s Board of Directors of a total amount of fees not to exceed US$500,000.00 be approved for the year ended December 31, 2012.

In addition, the audited consolidated financial statements for Archer Limited for the year ended December 31, 2011 were presented to the Meeting.

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