HOUSTON–(BUSINESS WIRE)–Feb. 13, 2001

Pursuant to the merger agreement, Transocean Sedco Forex will issue 106 million ordinary shares to R&B Falcon shareholders at the exchange ratio of 0.5 shares of Transocean Sedco Forex for each share of R&B Falcon. Following the exchange, the company’s ordinary shares outstanding will total approximately 317 million. The shares will continue to be listed on the New York Stock Exchange under the trading symbol “RIG.”

Eric B. Brown has been named Senior Vice President, General Counsel and Corporate Secretary. Mr. Brown joined the company in 1995 as Vice President, General Counsel. He graduated summa cum laude from Hope College in Holland, Michigan, and received his J.D. magna cum laude from Indiana University in Bloomington, Indiana, where he was a member of the Order of the Coif.

Jeffrey L. Chastain has been named Vice President, Investor Relations and Communications. Mr. Chastain joined the company in 1994 as Director of Investor Relations. He is a graduate of the University of North Texas in Denton, Texas, where he received a B.B.A. and M.B.A. in finance. He is a member of the National Investor Relations Institute (NIRI) and the Petroleum Investor Relations Association (PIRA).

The company also announced that Victor E. Grijalva will continue to serve as the Chairman of the Board of Directors of Transocean Sedco Forex, while the members of the company’s executive management team will continue to consist of the following individuals:

-- J. Michael Talbert, President, Chief Executive Officer
	
-- W. Dennis Heagney, Chief Operating Officer
	
-- Jean P. Cahuzac, Executive Vice President, Operations
	
-- Jon C. Cole, Executive Vice President, Marketing
	
-- Robert L. Long, Executive Vice President and Chief Financial Officer
	
-- Donald R. Ray, Senior Vice President, Technical Services
	
-- Eric B. Brown, Vice President, General Counsel and Corporate Secretary
	
-- Barbara S. Koucouthakis, Chief Information Officer
	
-- David J. Mullen, Vice President, Human Resources

Robert J. Scott has been named Vice President, Operations Support. Mr. Scott joined the company in 1969 and has held a variety of operating management roles over the past 32 years. Prior to his current appointment, Mr. Scott served as General Manager, Operations.

In addition, the company announced the following promotions:

Michael I. Unsworth has been named Vice President, Marketing. Mr. Unsworth joined the company in 1981 and held a number of staff engineering and management positions through 1990. In 1991, he was named North Sea Marketing Manager and in 1995, was appointed Division Manager in Indonesia. Prior to his current appointment, Mr. Unsworth served as Regional Manager of Asia and Australia. He holds a bachelor’s degree in civil engineering from the University of Strathclyde in Glasgow, Scotland, and is a member of the Society of Petroleum Engineers.

Transocean Sedco Forex Inc. (NYSE:RIG) today announced the close of its merger with R&B Falcon Corporation, creating an offshore drilling contractor with unprecedented fleet size and enhanced geographic diversity, technical expertise, financial strength and equity market trading liquidity.

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