Transocean Shareholders Approve All Proposals at AGM

At the company's Annual General Meeting held today, shareholders of Transocean Inc. (NYSE: RIG) reelected Roberto L. Monti and Ian C. Strachan as Class III directors. Shareholders also elected Judy J. Kelly as a newly appointed Class III director. Ms. Kelly is a retired executive of ExxonMobil Corporation. She most recently held the position of Vice President-Americas of ExxonMobil Gas Marketing Company. Ms. Kelly joined a predecessor of ExxonMobil in its financial organization and served in a variety of positions during her 31 years at the company. The Class III 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 & Young LLP as independent registered public accounting firm for 2005.