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Transocean Inc. Announces Gregory L. Cauthen Promoted to Senior Vice President, CFO and Treasurer

July 15, 2002
HOUSTON, Jul 15, 2002 (BUSINESS WIRE) -- Transocean Inc. (NYSE:RIG) todayannounced that Gregory L. Cauthen has been promoted to Senior Vice President,Chief Financial Officer and Treasurer, effective immediately. Prior to his mostrecent promotion, Mr. Cauthen had served the company as Vice President, ChiefFinancial Officer and Treasurer since December 2001. He joined the company inMarch 2001 as Vice President, Finance, and Treasurer.

Transocean Inc. is the world's largest offshore drilling contractor with morethan 150 full or partially owned and managed mobile offshore drilling units,inland drilling barges and other assets utilized in the support of offshoredrilling activities worldwide. The company's mobile offshore drilling fleet isconsidered one of the most modern and versatile in the world with 31high-specification semisubmersibles and drillships, 28 other semisubmersiblesand one drillship, and 53 jackup drilling rigs. Transocean Inc. specializes intechnically demanding segments of the offshore drilling business, includingindustry-leading positions in deepwater and harsh environment drilling services.With a current equity market capitalization in excess of $8 billion, thecompany's ordinary shares are traded on the New York Stock Exchange under thesymbol \"RIG.\"

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