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Transocean Inc. Reports Ruling on Patent Infringement Lawsuit

August 31, 2006

HOUSTON--(BUSINESS WIRE)--Aug. 31, 2006--Transocean Inc. (NYSE:RIG) today announced that a jury in its patent infringement action against GlobalSantaFe (NYSE:GSF) in the United States District Court in Houston, Texas, with respect to its dual activity patents has found in favor of Transocean and sustained the validity of Transocean's U.S. patents. The court had previously ruled in late 2005 that GlobalSantaFe's Development Driller I and Development Driller II semisubmersible rigs infringed certain of Transocean's U.S. patents.

Transocean Inc. is the world's largest offshore drilling contractor with a fleet of 83 mobile offshore drilling units. The company's mobile offshore drilling fleet, consisting of a large number of high-specification deepwater and harsh environment drilling units, is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. The company's fleet consists of 33 High-Specification Floaters (semisubmersibles and drillships), 20 Other Floaters, 25 Jackups and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization in excess of $21 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

    CONTACT: Transocean Inc., Houston
             Analyst Contact:
             Jeffrey L. Chastain, 713-232-7551
             Media Contact:
             Guy A. Cantwell, 713-232-7647

    SOURCE: Transocean Inc.