BP Exercises Fifth Option for Leiv Eiriksson

Ocean Rig announces that BP Exploration (Angola) Limited has exercised the 5th option well under the present contract in Angola for Leiv Eiriksson on Block 31, which is in ultra deep water. This well, which will last for an estimated 60 days, will be drilled in a sequence with the previously announced 4th option under the contract, together estimated to employ the rig into 2004.