Atwood Announces Two-for-One Stock Split

Atwood Oceanics, Inc. announced today that its Board of Directors approved a two-for-one stock split of its common stock to be effected in the form of a 100% stock dividend payable July 11, 2008, on all shares of common stock outstanding as of the close of business on June 27, 2008.

At the Company's annual shareholders' meeting on February 14, 2008, the shareholders of the Company approved the proposal for the adoption of Amendment No. 1 to the Amended and Restated Certificate of Formation in order to increase the number of authorized shares of common stock from 50,000,000 to 90,000,000, 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. On February 14, 2008, the Company filed the Amendment with the Secretary of State of the State of Texas.