Atwood Oceanics Announces a Two-for-One Stock Split

The Board of Directors of Atwood Oceanics, Inc. (NYSE: ATW) has approved a two-for-one stock split of its common stock to be effected in the form of a 100% stock dividend payable April 7, 2006, on all shares of common stock outstanding as of the close of business on March 24, 2006. At the Company's annual shareholders meeting on February 9, 2006, the shareholders of the Company approved increasing the number of authorized shares of common stock of the Company from 20,000,000 shares to 50,000,000 shares thereby facilitating the ability of the Board of Directors to implement a two-for-one stock split in the form of a 100% stock dividend.