Rowan Houston Jackup Sinks During Hurricane Lili

Rowan has completed an aerial survey of its 22 rigs in the Gulf of Mexico. All rigs appear to be undamaged, with the exception of the Rowan-Houston, which apparently capsized and sank in approximately 105 feet of water in Ship Shoal Block 207, offshore Louisiana. The rig had been under contract to Anadarko.

All appropriate regulatory agencies have been notified. The Company is in the process of conducting a thorough investigation to determine the cause.