Pride International COO Retires

Pride International reports that John R. Blocker, Jr., its Executive Vice President and Chief Operating Officer, has elected to retire from the Company and has resigned as Chief Operating Officer effective immediately, although he will remain an employee pending the completion of Pride's previously disclosed investigation to assist Pride with the investigation and other matters. Further details of his retirement agreement with the Company are included in a Form 8-K filed today.

The Company said that the former duties of the Chief Operating Officer have been reorganized among the Company's Vice President -- Eastern Hemisphere Operations, Vice President -- Western Hemisphere Operations and Vice President -- Engineering and Technical Support, all of whom will report directly to Louis A. Raspino, President and Chief Executive Officer.

Raspino commented, "We appreciate Johnny's contributions over his thirteen year career with Pride, and we wish him well in his future endeavors. We have no plans to replace the Chief Operating Officer position. The announced change in operating management structure reflects the Company's internal depth of operating leadership and the continuing transformation of the Company."

Pride International, Inc., headquartered in Houston, Texas, is one of the world's largest drilling contractors. The Company provides onshore and offshore drilling and related services in more than 25 countries, operating a diverse fleet of 279 rigs, including two ultra-deepwater drillships, 12 semisubmersible rigs, 28 jackup rigs, and 18 tender-assisted, barge and platform rigs, as well as 219 land rigs.