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Transocean Inc. to Host Analyst Meeting

May 22, 2003

HOUSTON--(BUSINESS WIRE)--May 22, 2003--Transocean Inc. (NYSE:RIG)today announced that members of its senior management will host ananalyst meeting in New York City, on the afternoon of Wednesday, May28, 2003. The meeting will be held in the Boardroom of the New YorkStock Exchange beginning at 1:00 pm ET and is expected to conclude by3:00 pm.

A live, listen-only webcast of the event will be offered. Thewebcast will be publicly accessible through the company's website atwww.deepwater.com. Go to the Investor Relations section and locate thelink entitled \"Business Review - May 28, 2003.\" A listen-onlyTelephone option is also available and can be accessed by dialing706-679-0023 and entering password 108328. It is recommended thatparticipants utilizing the webcast or the telephonic option shouldplan to access the call 10 minutes prior to the scheduled start.

Transocean Inc. is the world's largest offshore drillingcontractor with more than 170 full or partially owned and managedmobile offshore drilling units, inland drilling barges and otherassets utilized in the support of offshore drilling activitiesworldwide. The company's mobile offshore drilling fleet is consideredone of the most modern and versatile in the world with 13fifth-generation semisubmersibles and drillships, 15 other deepwatersemisubmersibles and drillships, 32 mid-water semisubmersibles anddrillships and 55 jackup drilling rigs. Transocean Inc. specializes intechnically demanding segments of the offshore drilling business,including industry-leading positions in deepwater and harshenvironment drilling services. With a current equity marketcapitalization in excess of $7 billion, the company's ordinary sharesare traded on the New York Stock Exchange under the symbol \"RIG.\"

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

SOURCE: Transocean Inc.