Richard Kinder Resigns from Transocean's Board of Directors

Transocean Inc. announced that Richard D. Kinder has submitted his resignation as a member of the Company's Board of Directors to devote more attention to his duties at Kinder Morgan, Inc. and Kinder Morgan Energy Partners, L.P. Mr. Kinder's resignation is effective immediately.

"During his seven-year tenure on the Transocean Board, Rich Kinder provided strong leadership and counsel through a period of rapid growth at our Company," said J. Michael Talbert, Chief Executive Officer of Transocean Inc. "His exceptional business sense and knowledge of global energy markets will be missed. We wish him well in every endeavor."

Mr. Kinder is Chairman of the Board and Chief Executive Officer of both Kinder Morgan, Inc. and Kinder Morgan Energy Partners, L.P., which own and operate diversified energy assets. He served as a Transocean Inc. director since November 1994. Transocean Inc. does not intend to fill the vacancy created by Mr. Kinder's resignation and will operate with an 11-member Board of Directors.