Ocean Rig Converts Mandatory Convertible Bonds

Ocean Rig announces that investors have converted a further 1,093 Mandatory Convertible Bonds with a nominal value of NOK 1,093,000 in the Mandatory Convertible Bond Issue 2002/2005 (ISIN NO 001015769.6) into 31,228 ordinary shares at NOK 35 per share.

This conversion has reduced the outstanding amount under the Mandatory Convertible Bond Issue from NOK 10,817,000 to NOK 9,724,000, and increased the number of ordinary shares outstanding in Ocean Rig ASA from 87,299,285 to 87,330,513.

Certificate of registration is sent to Oslo Stock Exchange. New share capital is NOK 873,305,130 and the capital is registered fully paid in the Register of Business Enterprises.