Transocean Inc. Shareholders Approve All Proposals at Annual General Meeting
HOUSTON--(BUSINESS WIRE)--May 13, 2004--At the company's AnnualGeneral Meeting held today, shareholders of Transocean Inc. (NYSE:RIG)reelected Robert L. Long, Martin B. McNamara and J. Michael Talbert asClass II directors. Shareholders also elected Robert M. Sprague as aClass II director. Mr. Sprague is a retired executive of the RoyalDutch / Shell group of companies which he joined in 1967. He mostrecently held the position of Regional Business Director of Shell EPInternational BV until his retirement in June 2003. The Class IIdirectors will serve three-year terms.
In addition, shareholders approved the company's proposedamendment to its Long-Term Incentive Plan and the appointment of Ernstand Young LLP as independent auditors for 2004.
Transocean Inc. is the world's largest offshore drillingcontractor with full or partial ownership in 95 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), 25Other Floaters, 26 Jackup Rigs and other assets utilized in thesupport of offshore drilling activities worldwide. With a currentequity market capitalization in excess of $8 billion, TransoceanInc.'s ordinary shares are traded on the New York Stock Exchange underthe 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.