Diamond Offshore Drilling Reports Pricing of $500MM of Senior Notes

Diamond Offshore Drilling has reported the pricing of $500 million principal amount of the Company's 5.875% senior unsecured notes due May 1, 2019. The notes were offered at 99.851% of the principal amount. Closing of the transaction is scheduled for May 4, 2009, subject to customary closing conditions. The Company intends to use the net proceeds from the sale of the notes for general corporate purposes.

This notice does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum. The notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.