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Transocean Inc. Shareholders Approval All Proposals at Annual General Meeting

May 10, 2007
HOUSTON, May 10, 2007 (BUSINESS WIRE) -- At the company's Annual General Meeting held today, shareholdersof Transocean Inc. (NYSE:RIG) re-elected Robert L. Long, Martin B.McNamara, Robert M. Sprague and J. Michael Talbert as Class IIdirectors to serve three-year terms expiring in 2010. Mr. Long isChief Executive Officer of Transocean Inc., Mr. McNamara is a partnerof the law firm of Gibson, Dunn & Crutcher, Mr. Sprague is the retiredRegional Business Director of Shell EP International BV and Mr.Talbert is our non-executive Chairman of our board of directors andpreviously served as our executive Chairman from October 2002 toOctober 2004 and our Chief Executive Officer from August 1994 untilOctober 2002.

Also, shareholders approved the appointment of Ernst & Young LLPas the company's independent registered public accounting firm for2007.

Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 82 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), 20Other Floaters, 25 Jackups and other assets utilized in the support ofoffshore drilling activities worldwide. With a current equity marketcapitalization in excess of $25 billion, Transocean Inc.'s ordinaryshares are traded on the New York Stock Exchange under the symbol\"RIG.\"

SOURCE: Transocean Inc.

Transocean Inc., Houston
Analyst Contact:
John Briscoe, 713-232-7551
Media Contact:
Guy A. Cantwell, 713-232-7647