Ocean Rig Responds to FGH Press Release

Ocean Rig ASA responded today to Friede Goldman Halter, Inc.'s recent announcement regarding continuing operational problems and financial losses experienced by Friede Goldman.

Friede Goldman stated in its press release, which was released yesterday, that Friede Goldman "does not intend to complete the rigs which, without an agreement, would require substantial additional loss reserves" and also that if Friede Goldman does not complete the rigs "substantial losses could be incurred."

Ocean Rig's Bingo 9000-1 and Bingo 9000-2 semi-submersible rigs are currently being completed at Friede Goldman's Pascagoula, Mississippi yard. In light of Friede Goldman's statements yesterday, Ocean Rig is reviewing all options available to the Company to complete its rigs. In addition, Ocean Rig is trying to communicate with Friede Goldman in order to determine Friede Goldman's intentions with respect to complying with its obligations under the Completion Contracts, as amended. Ocean Rig intends to take all appropriate action in this regard to protect its interests.


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