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Transocean Ltd. Provides Supplement to Proxy Statement

April 25, 2011


Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that aSupplement to its Proxy Statement is available through the company'swebsite at http://www.deepwater.com/proxymaterials.cfm. TheSupplement provides updated information related to the conditionalAgenda Item 6 that would grant the Board of Directors the flexibilityto accelerate or otherwise change the timing of the company'sdividend payments in light of possible changes to Swiss tax law whichmay impact dividend payments. In addition, print copies are beingmailed to the company's shareholders of record in advance of thecompany'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 drillingcontractor and the leading provider of drilling management servicesworldwide. With a fleet of 137 mobile offshore drilling units as wellas one ultra-deepwater drillship and three high-specification jackupsunder construction, Transocean's fleet is considered one of the mostmodern and versatile in the world due to its emphasis on technicallydemanding segments of the offshore drilling business. Transocean ownsor operates a contract drilling fleet of 47 High-SpecificationFloaters (Ultra-Deepwater, Deepwater and Harsh-Environmentsemisubmersibles and drillships), 25 Midwater Floaters, nineHigh-Specification Jackups, 53 Standard Jackups and other assetsutilized in the support of offshore drilling activities worldwide.

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

SOURCE: Transocean Ltd.