Transocean Sedco Forex Inc. Announces Fourth Quarter 2001 Earnings Release Date and Conference Call Information

January 16, 2002

HOUSTON, Jan 16, 2002 (BUSINESS WIRE) -- Transocean Sedco Forex Inc. (NYSE:RIG) today said it plans to report earnings for the three months ended December 31, 2001 on the morning of Tuesday, February 5, 2002. 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 (EST) on February 5. Individuals who wish to participate in the teleconference call may dial 719/457-2657 and refer to confirmation code 678175. It is recommended that participants dial in 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 on to 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. EST on February 5 and can be accessed by dialing 719/457-0820 and referring to the passcode 678175. 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 Sedco Forex Inc. is the world's largest offshore drilling contractor with more than 160 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, 30 other semisubmersibles and drillships and 54 jackup drilling rigs. Transocean Sedco Forex 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 in excess of $9 billion, the Company's ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

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