Increased Revenues, Net Income in Q1 for Diamond Offshore Drilling

Diamond Offshore Drilling, Inc. reported net income for the first quarter of 2008 of $290.6 million, or $2.09 per share on a diluted basis, compared with net income of $224.1 million, or $1.64 per share on a diluted basis, in the same period a year earlier.

Revenues in the first quarter of 2008 were $786.1 million, compared with revenues of $608.2 million for the first quarter of 2007.

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