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

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced the schedule for the second installment of its dividend of approximately U.S. $1 billion to be paid out of additional paid in capital. The second 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 second 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.

Second Installment Schedule

--  August 24, 2011 - Ex-dividend date


--  August 26, 2011 - Record date


--  September 21, 2011 - Installment payment date

Currency Election Period

For shareholders who choose to receive the second dividend installment in Swiss francs, the dividend payment will be converted into Swiss francs as transacted by BNY Mellon on or about September 14, 2011. The period to elect to receive payment of the second dividend installment in Swiss francs starts on August 29, 2011, 5 p.m. EDT, 11 p.m. CEST, and ends on September 2, 2011, 5 p.m. EDT, 11 p.m. CEST. Holders of shares registered in our share register who would like to receive the second dividend installment in Swiss francs must make their election in writing to the following address during the election period:

About Transocean

Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 134 mobile offshore drilling units as well as 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 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 51 Standard Jackups and one swamp barge utilized in the support of offshore drilling activities. www.deepwater.com.