NYSE: RIG 1.33 0.03 2.21% 4:00 P.M. ET
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Transocean Inc. Shareholders Approve All Proposals at Annual General Meeting

May 11, 2006

HOUSTON--(BUSINESS WIRE)--May 11, 2006--At the company's AnnualGeneral Meeting held today, shareholders of Transocean Inc. (NYSE:RIG)reelected Victor E. Grijalva, Arthur Lindenauer and Kristian Siem asClass I directors to serve three-year terms. Mr. Grijalva is a retiredVice Chairman of Schlumberger Limited, Mr. Lindenauer is a retiredExecutive Vice President of Finance and Chief Financial Officer ofSchlumberger Limited and Mr. Siem is Chairman and Chief ExecutiveOfficer of Siem Industries, Inc.

Also, shareholders approved the appointment of Ernst & Young LLPas the company's independent registered public accounting firm for2006.

Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 88 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 33High-Specification Floaters (semisubmersibles and drillships), 21Other Floaters, 25 Jackups and other assets utilized in the support ofoffshore drilling activities worldwide. With a current equity marketcapitalization in excess of $28 billion, Transocean Inc.'s ordinaryshares are 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.