NYSE: RIG 5.42 0.26 4.58% 4:01 P.M. ET
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Transocean Inc. Announces Management Change and Promotions

October 14, 2002
HOUSTON, Oct 14, 2002 (BUSINESS WIRE) -- Transocean Inc. (NYSE:RIG) today announced that Donald R. Ray has been named Executive Vice President, Quality, Health, Safety and Environment, effective immediately. In his new role, Mr. Ray will report directly to Robert L. Long, President and Chief Executive Officer, of Transocean. Mr. Ray previously held the position of Executive Vice President, Technical Services. He joined the company in 1972 as a Research Engineer and has served in a number of engineering, research and development positions over his 30-year career. Mr. Ray is a graduate of Texas A&M University in College Station, Texas, where he earned bachelor's and master's degrees in civil engineering, and he is a member of the Society of Petroleum Engineers, a director of the International Association of Drilling Contractors and a member of the National Offshore Safety Advisory Committee of the U.S. Coast Guard.

The company also announced the following promotions, which are effective immediately:

Robert J. Scott has been named Senior Vice President, Operations. Mr. Scott previously held the position of Vice President, Operations Support. He joined the company in 1969 and has held a variety of operating management roles over his 33-years of service.

John W. Rouse has been named Vice President, Engineering and Construction. Mr. Rouse previously held the title of Director of Engineering and Construction. He joined the company in 1975 and has served in various engineering roles since that time. Mr. Rouse graduated from the University of Houston in 1973 with a Bachelor of Science degree in structural/civil engineering. He has completed several project-management and other courses, including one on business negotiation at Harvard Business School and the University of Pennsylvania's Wharton School project and business management program. A registered professional engineer, he is a member of the American Society of Civil Engineers and is a past recipient of the International Association of Drilling Contractors' Special Service Award. Mr. Rouse also served as technical advisor for the U.S. Delegation to the International Maritime Organization and is the current Chairman of the DNV Rig Owner's Committee.

Mrsrs. Scott and Rouse report to Jean P. Cahuzac, Executive Vice President and Chief Operating Officer.

Phillip M. Hall has been named Vice President, Operations Technical Support, reporting to Mr. Scott. Mr. Hall previously held the title of Director of Corporate Planning. Since joining the company in 1978, he has served in various operations and engineering positions. A member of the International Association of Drilling Contractors and the Society of Petroleum Engineers, Mr. Hall graduated from Georgia Tech in 1975 with a bachelor of civil engineering degree and he completed Harvard University's executive management program in 1997.

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, 27 other semisubmersibles and one drillship, and 52 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 $6 billion, the company's ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

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