Transocean Ltd. Announces Schedule for Third Dividend Installment and Currency Election Period

Transocean Ltd. / Transocean Ltd. Announces Schedule for Third Dividend Installment and Currency Election Period . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement. ZUG, SWITZERLAND--(Marketwire - November 10, 2011) - Transocean Ltd. (NYSE:RIG) (SIX: RIGN) today announced the schedule for the third installment of its dividend of approximately U.S. $1 billion to be paid out of additional paid in capital. The third installment is $0.79 per outstanding share, or approximately $252.7 million in total, based on the current number of the company's outstanding shares. The dividend is denominated in U.S. dollars and represents the third of four installments totaling $3.16 per outstanding share. The dividend was approved by shareholders at the company's Annual General Meeting on May 13, 2011. Third Installment Schedule * November 22, 2011 - Ex-dividend date * November 25, 2011 - Record date * December 21, 2011 - Installment payment date Currency Election Period For shareholders who choose to receive the third dividend installment in Swiss francs, the dividend payment will be converted into Swiss francs as transacted by BNY Mellon on or about December 19, 2011. The period to elect to receive payment of the third dividend installment in Swiss francs starts on November 28, 2011, 5 p.m. EST, 11 p.m. CET, and ends on December 2, 2011, 5 p.m. EST, 11 p.m. CET. NOTE: NO ACTION IS REQUIRED IF YOU WISH TO RECEIVE YOUR DIVIDEND IN U.S. DOLLARS. Holders of shares registered in our share register who would like to receive the third dividend installment in Swiss francs must make their election in writing to the following address during the election period: BNY Mellon Shareowner Services Attn: Steven Myers 480 Washington Boulevard 29th Floor Jersey City, NJ 07310 USA Email: Fax: +1 201-680-4606 Phone: +1 201-680-5333 If you hold your shares in the name of a bank, broker or nominee, please contact your bank, broker or nominee to make the election arrangements. Forward-Looking Statements Statements regarding the dividend and timing of dividend payment dates, 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 the number of shares outstanding at the time of the payment of the dividend, exchange rates, actions by regulatory authorities, and other factors detailed in the company's most recent Form 10-K, Form 10-Q, and other filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC's website at 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 135 mobile offshore drilling units, excluding two Ultra-Deepwater Drillships and four High- Specification Jackups 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 50 High-Specification Floaters (Ultra- Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 50 Standard Jackups and one swamp barge. For more information about Transocean, please visit our website at Analyst Contacts: Thad Vayda +1 713-232-7551 Chris Kettmann +1 713-232-7420 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#1563103]