Pride International Names New Chief Operating Officer

Pride International has named Rodney W. Eads to the position of Executive Vice President and Chief Operating Officer, where he will assume responsibility for the Company's worldwide offshore operations and Eastern Hemisphere land assets.

Mr. Eads will join the Company immediately from Diamond Offshore Drilling, Inc. where, since 1997, he has been Senior Vice President, Worldwide Operations and responsible for Diamond's offshore drilling fleet. Mr. Eads previously was employed by Exxon Corporation from 1980 to 1997 where he held several executive and operations management positions, primarily in international assignments, including Drilling Manager, Exxon Company International. Prior to that, Mr. Eads was a Senior Drilling Engineer with Arabian American Oil Company (ARAMCO) and a Petroleum Engineer with Cities Service Company. He holds a Bachelor of Science degree in Chemical Engineering from the West Virginia Institute of Technology and a Master of Business Administration degree from Rice University.

Louis Raspino, President and Chief Executive Officer, commented, "We are happy to welcome Rodney to the Company and are excited to benefit from his broad offshore and executive management experience, including an extensive background in international and deepwater operations from both an Operator and Drilling Contractor perspective. Rodney brings to our organization a sharp focus on operational excellence and customer satisfaction, and he will play a major leadership role in the continuing transformation of Pride."

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