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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) today announced that Gregory L. Cauthen has been promoted to Senior Vice President, Chief Financial Officer and Treasurer, effective immediately. Prior to his most recent promotion, Mr. Cauthen had served the company as Vice President, Chief Financial Officer and Treasurer since December 2001. He joined the company in March 2001 as Vice President, Finance, and Treasurer.

Transocean Inc. is the world's largest offshore drilling contractor with more than 150 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, 28 other semisubmersibles and one drillship, and 53 jackup drilling rigs. Transocean 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 $8 billion, the company's ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

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