NYSE: RIG 9.45 0.06 0.63% 4:02 P.M. ET
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Transocean Inc. Shareholders Approve All Proposals At Annual General Meeting

May 16, 2008

HOUSTON, May 16, 2008 (PRIME NEWSWIRE) -- At the company's Annual General Meeting held today, shareholders of Transocean Inc. (NYSE:RIG) elected Jon A. Marshall, Martin B. McNamara, Robert E. Rose and Ian C. Strachan as Class III directors to serve three-year terms expiring in 2011. Mr. Marshall is the former President and Chief Operating Officer of Transocean Inc.; Mr. McNamara is a partner of the law firm of Gibson, Dunn & Crutcher; Mr. Rose is the non-executive Chairman of the Board of Directors of Transocean Inc. and previously served as the non-executive Chairman of the Board of Directors of GlobalSantaFe Corporation; and Mr. Strachan is a member of the Board of Directors of several public companies.

Also, shareholders approved the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2008.

Transocean Inc. is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 138 mobile offshore drilling units plus nine announced ultra-deepwater newbuild units, the company's fleet is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. The company owns or operates a contract drilling fleet of 39 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 29 Midwater Floaters, 10 High-Specification Jackups, 56 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide.

The Transocean Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2252

CONTACT: Transocean Inc.
Analyst Contact:
Gregory S. Panagos
713-232-7551
Media Contact:
Guy A. Cantwell
713-232-7647