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Transocean Inc. Announces Fourth Quarter 2002 Earnings Release Date and Conference Call Information

January 9, 2003

HOUSTON--(BUSINESS WIRE)--Jan. 9, 2003--Transocean Inc. (NYSE:RIG) today said it plans to report earnings for the three months ended December 31, 2002 on the morning of Thursday, January 30, 2003. Following the earnings report, expected to be released prior to the commencement of trading in the United States, the company will conduct a teleconference call at 10:00 a.m. Eastern time on January 30. Individuals who wish to participate in the teleconference call should dial 212/329-1454 approximately five to 10 minutes prior to the scheduled start time of the call.

In addition, the conference call will be simulcast through a listen-only broadcast over the Internet and can be accessed by logging onto the company's Worldwide Web address at www.deepwater.com and selecting "Investor Relations." It may also be accessed via the Worldwide Web at www.CompanyBoardroom.com by typing in the company's NYSE trading symbol, "RIG."

A telephonic replay of the conference call should be available after 1:00 p.m. Eastern time on January 30 and can be accessed by dialing 303/590-3000 and referring to the passcode 519997. Also, a replay will be available through the Internet and can be accessed by visiting either of the above-referenced Worldwide Web addresses. Both replay options will be available for approximately 30 days.

Transocean Inc. is the world's largest offshore drilling contractor with more than 150 full or partially owned and managed mobile offshore drilling units, inland drilling barges and other assets utilized in the support of offshore drilling activities worldwide. The company's mobile offshore drilling fleet is considered one of the most modern and versatile in the world with 31 high-specification semisubmersibles and drillships, 27 other semisubmersibles and two drillships, and 53 jackup drilling rigs. Transocean Inc. specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. With a current equity market capitalization of approximately $7 billion, the company's ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

CONTACT:
Transocean Inc., Houston
Analyst Contact:
Jeffrey L. Chastain, 713/232-7551
or
Media Contact:
Guy A. Cantwell, 713/232-7647