Ocean Rig Investors Convert More Mandatory Convertible Bonds

Ocean Rig announces that investors have converted a further 1,685 Mandatory Convertible Bonds with a nominal value of NOK 1,685,000 in the Mandatory Convertible Bond Issue 2002/2005 (ISIN NO 001015769.6) into 48,142 ordinary shares at NOK 35 per share. Investors have also converted 1,900 7% Convertible Bonds with a nominal value of NOK 1,900,000 in the 7% Convertible Bond Issue 2004/2007 (ISIN NO 0010229537) into 100,000 ordinary shares at NOK 19 per share.

These conversions have reduced the outstanding amount under the Mandatory Convertible Bond Issue from NOK 9,724,000 to NOK 8,039,000 and the 7% Convertible Bond Issue from NOK 34,200,000 to NOK 32,300,000, and increased the number of ordinary shares outstanding in Ocean Rig ASA from 87,330,513 to 87,478,655.

Certificate of registration is sent to Oslo Stock Exchange. New share capital is NOK 874,786,550 and the capital is registered fully paid in the Register of Business Enterprises.

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