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Transocean Ltd. Provides Supplement to Proxy Statement

April 25, 2011


Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that a Supplement to its Proxy Statement is available through the company's website at http://www.deepwater.com/proxymaterials.cfm. The Supplement provides updated information related to the conditional Agenda Item 6 that would grant the Board of Directors the flexibility to accelerate or otherwise change the timing of the company's dividend payments in light of possible changes to Swiss tax law which may impact dividend payments. In addition, print copies are being mailed to the company's shareholders of record in advance of the company's 2011 Annual General Meeting, which will be held at 4 p.m., CEST, on May 13, 2011, in Cham, Switzerland.

About Transocean Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 137 mobile offshore drilling units as well as one ultra-deepwater drillship and three high-specification jackups under construction, Transocean'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. Transocean owns or operates a contract drilling fleet of 47 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 53 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide.

For more information about Transocean, please visit our website at www.deepwater.com.

SOURCE: Transocean Ltd.