Noble CEO Resigns

The Board of Directors of Noble Corporation reports that Mark A. Jackson has resigned from the positions of Chairman of the Board, President and Chief Executive Officer, effective immediately. The Board has appointed William A. Sears, a director of the Company since January 1998, to serve as Chairman of the Board, President and Chief Executive Officer on an interim basis. Mr. Sears has over 40 years of experience in the oil and gas industry and retired from his position as Director of Operations for British Petroleum Exploration in 1997, after serving with them in various positions since 1983.

The Board of Directors has formed a search committee to review internal and external candidates to fill the President and Chief Executive Officer position on a permanent basis.

Noble Corporation is a leading provider of diversified services for the oil and gas industry. The Company performs contract drilling services with a fleet of 62 mobile offshore drilling units located in key markets worldwide, including the U.S. Gulf of Mexico, Middle East, Mexico, the North Sea, Brazil, West Africa and India. The fleet count includes five rigs under construction.

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