Transocean Ltd. Board Nominates New Director

Transocean Ltd. / Transocean Ltd. Board Nominates New Director Processed and transmitted by Thomson Reuters. The issuer is solely responsible for the content of this announcement. ZUG, SWITZERLAND--(Marketwire - March 2, 2011) - Transocean Ltd. (NYSE:RIG) (SIX: RIGN) today announced that the Board of Directors is recommending that the company's shareholders approve at the 2011 Annual General Meeting the election of Steve Lucas as a Class III Director for a three-year term. Mr. Lucas is the retired Group Finance Director of National Grid plc and has previously served in a variety of finance roles with the Lattice Group plc., the BG Group plc and Royal Dutch/Shell. As previously announced, the Board of Directors is also recommending that the company's shareholders at the 2011 Annual General Meeting approve: -- The re-election of Ian C. Strachan and Martin B. McNamara as Class III Directors for three-year terms. -- The election of Jagjeet S. Bindra as a Class III Director for a three-year term. Mr. Bindra is the retired President of Chevron Global Manufacturing and has previously served in a variety of positions at Chevron group. -- The election of Tan Ek Kia as a Class I Director for a one-year term. Mr. Tan is the retired Vice President, Ventures and Developments, Asia Pacific and Middle East Region of Shell Chemicals, and has previously served in a variety of positions at Shell group. The 2011 Annual General Meeting, which will open to shareholders of record as of April 26, 2011, will be held at 4 p.m., CET, on May 13, 2011, in Cham, Switzerland. Additional details on the meeting will be provided to shareholders in the company's proxy statement. Forward-Looking Statements Statements in this news release regarding the proposed nominations, as well as any other statements that are not historical facts, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to regulatory approvals, shareholder approval and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC's website Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. About Transocean Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 138 mobile offshore drilling units as well as one ultra-deepwater newbuild drillship and a high-specification jackup under construction, Transocean's fleet is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. Transocean owns or operates a contract drilling fleet of 47 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 54 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide. For more information about Transocean, please visit our website Analyst Contact: Gregory S. Panagos +1 713-232-7551 Media Contact: Guy A. Cantwell +1 713-232-7647 --- End of Message --- Transocean Ltd. Chemin de Blandonnet 10 Vernier Switzerland ISIN: CH0048265513; This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Transocean Ltd. via Thomson Reuters ONE [HUG#1494062]