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Transocean Inc. Provides Update on Fleet Contract Status

March 29, 2004

HOUSTON, Mar 29, 2004 (BUSINESS WIRE) -- Transocean Inc.(NYSE:RIG) today announced that its report of drilling rig status andcontract information covering the company's offshore drilling fleethas been updated as of March 29, 2004.

Drilling rig status and contract information on Transocean Inc.'soffshore drilling fleet has been condensed into a report titled\"Monthly Fleet Update,\" which is available through the company'swebsite at www.deepwater.com. The report is located in the \"InvestorRelations/Financial Reports\" section of the website. By subscribing tothe Transocean Financial Report Alert, you will be immediatelynotified when new postings are made to this page by an automatede-mail that will provide a link directly to the page that has beenupdated. Shareholders and other interested parties are invited to signup for this service.

Statements regarding future opportunities and outlook for thecompany and the company's International and U.S. Floater ContractDrilling Services business segment and fleet categories, dayrates, rigutilization, drilling activity, as well as any other statements thatare not historical facts in this release, are forward-lookingstatements that involve certain risks, uncertainties and assumptions.These include but are not limited to operating hazards and delays,risks associated with international operations, results ofinvestigations regarding riser, actions by customers and other thirdparties, the future price of oil and gas and other factors detailed inthe company's most recent Form 10-K and other filings with theSecurities and Exchange Commission. Should one or more of these risksor uncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from those indicated.

Transocean Inc. is the world's largest offshore drillingcontractor with full or partial ownership in 96 mobile offshoredrilling units, excluding the 70-rig fleet of TODCO, a publicly-tradeddrilling company in which Transocean Inc. owns a majority interest.The company's mobile offshore drilling fleet is considered one of themost modern and versatile in the world due to its emphasis ontechnically demanding segments of the offshore drilling business,including industry-leading positions in high-specification deepwaterand harsh environment drilling units. The company's fleet consists of32 High-Specification Floaters (semisubmersibles and drillships), 26Other Floaters, 26 Jackup Rigs and other assets utilized in thesupport of offshore drilling activities worldwide. With a currentequity market capitalization in excess of $9 billion, TransoceanInc.'s ordinary shares are traded on the New York Stock Exchange underthe symbol \"RIG.\"

Transocean Inc., HoustonAnalyst Contact:Jeffrey L. Chastain, 713-232-7551orMedia Contact:Guy A. Cantwell, 713-232-7647