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Transocean: Investor Relations And Corporate Communications Analyst Contacts: Bradley Alexander News Release

The following excerpt is from the company's SEC filing.

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Diane Vento

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Media Contact

Pam Easton

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Transocean Ltd. Shareholders Elect Jeremy D. Thigpen as Director

and Approve All Other Proposals at Extraordinary General Meeting

ZUG, SWITZERLAND-October 29, 2015-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that at today’s Extraordinary General Meeting shareholders elected Jeremy D. Thigpen, the company's President and Chief Executive Officer, as a member of the Board of Directors for a term extending until completion of the company’s 2016 Annual General Meeting.

Shareholders also approved all other proposals of the Board of Directors as follows:

The cancellation of the third and fourth installments of the dividend approved on May 15, 2015 at the company's annual general meeting;

A reduction of the par value of each share of the company to CHF 0.10 from currently CHF 15; and

The cancellation of all shares repurchased to date under the company's share repurchase program approved in 2009.

The Board of Directors thanks shareholders for participating in this process and for their support of its proposals.

Forward-Looking Statements

The statements described in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements contain words such as "possible," "intend," "will," "if," "expect," or other similar...