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Transocean Inc. Provides Update on Fleet Contract Status

November 29, 2004

HOUSTON, Nov 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 November 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 estimated contract duration, contractdayrates and future contract commencement dates and locations, as wellas any other statements that are not historical facts in the report,are forward-looking statements that involve certain risks,uncertainties and assumptions. These include but are not limited tooperating hazards and delays, risks associated with internationaloperations, results of investigations regarding riser, actions bycustomers and other third parties, the future price of oil and gas andother factors detailed in the company's most recent Form 10-K andother filings with the Securities and Exchange Commission. Should oneor more of these risks or uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those indicated.

Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 94 mobile offshore drilling units,excluding the 70-rig fleet of TODCO, a publicly traded drillingcompany in which Transocean Inc. has a majority voting interest. Thecompany's mobile offshore drilling fleet, consisting of a large numberof high-specification deepwater and harsh environment drilling units,is considered one of the most modern and versatile in the world due toits emphasis on technically demanding segments of the offshoredrilling business. The company's fleet consists of 32High-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 $13 billion, TransoceanInc.'s ordinary shares are traded on the New York Stock Exchange underthe symbol \"RIG.\"

SOURCE: Transocean Inc.

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