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Transocean Inc. Shareholders Approval All Proposals at Annual General Meeting

May 10, 2007
HOUSTON, May 10, 2007 (BUSINESS WIRE) -- At the company's Annual General Meeting held today, shareholders of Transocean Inc. (NYSE:RIG) re-elected Robert L. Long, Martin B. McNamara, Robert M. Sprague and J. Michael Talbert as Class II directors to serve three-year terms expiring in 2010. Mr. Long is Chief Executive Officer of Transocean Inc., Mr. McNamara is a partner of the law firm of Gibson, Dunn & Crutcher, Mr. Sprague is the retired Regional Business Director of Shell EP International BV and Mr. Talbert is our non-executive Chairman of our board of directors and previously served as our executive Chairman from October 2002 to October 2004 and our Chief Executive Officer from August 1994 until October 2002.

Also, shareholders approved the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2007.

Transocean Inc. is the world's largest offshore drilling contractor with a fleet of 82 mobile offshore drilling units. The company's mobile offshore drilling fleet, consisting of a large number of high-specification deepwater and harsh environment drilling units, 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's fleet consists of 33 High-Specification Floaters (semisubmersibles and drillships), 20 Other Floaters, 25 Jackups and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization in excess of $25 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

SOURCE: Transocean Inc.

Transocean Inc., Houston
Analyst Contact:
John Briscoe, 713-232-7551
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Media Contact:
Guy A. Cantwell, 713-232-7647