NYSE: RIG 1.43 0.04 2.72% 4:00 P.M. ET
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Transocean Inc. Shareholders Approve All Proposals at Annual General Meeting

May 12, 2005

HOUSTON--(BUSINESS WIRE)--May 12, 2005--At the company's AnnualGeneral Meeting held today, shareholders of Transocean Inc. (NYSE:RIG)reelected Roberto L. Monti and Ian C. Strachan as Class III directors.Shareholders also elected Judy J. Kelly as a newly appointed Class IIIdirector. Ms. Kelly is a retired executive of ExxonMobil Corporation.She most recently held the position of Vice President-Americas ofExxonMobil Gas Marketing Company. Ms. Kelly joined a predecessor ofExxonMobil in its financial organization and served in a variety ofpositions during her 31 years at the company. The Class III directorswill serve three-year terms.

In addition, shareholders approved the company's proposedamendment to its Long-Term Incentive Plan and the appointment of Ernst& Young LLP as independent registered public accounting firm for 2005.

Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 93 mobile offshore drilling units. 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), 24Other Floaters, 26 Jackup Rigs and other assets utilized in thesupport of offshore drilling activities worldwide. With a currentequity market capitalization in excess of $15 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.