Ocean Rig Increases Capital

Ocean Rig announces that investors have converted a further 34,727 Mandatory Convertible Bonds with a nominal value of NOK 34,727,000 in the Mandatory Convertible Bond Issue 2002/2005 (ISIN NO 001015769.6) into 992,200 ordinary shares at 35 per share. This conversion has reduced the outstanding amount under the Mandatory Convertible Bond Issue from NOK 514,042,000 to NOK 479,315,000 and increased the number of ordinary shares outstanding in Ocean Rig ASA from 66,162,518 to 67,154,718.

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