Transocean Shareholders Approve All Proposals at AGM

At the company's Annual General Meeting, shareholders of Transocean Inc. (NYSE:RIG) reelected Robert L. Long, Martin B. McNamara and J. Michael Talbert as Class II directors. Shareholders also elected Robert M. Sprague as a Class II director. Mr. Sprague is a retired executive of the Royal Dutch / Shell group of companies which he joined in 1967. He most recently held the position of Regional Business Director of Shell EP International BV until his retirement in June 2003. The Class II directors will serve three-year terms.

In addition, shareholders approved the company's proposed amendment to its Long-Term Incentive Plan and the appointment of Ernst and Young LLP as independent auditors for 2004.