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

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

ZUG, SWITZERLAND-August 12, 2014-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today
announced the schedule for the payment of the second installment of its U.S.
dollar-denominated dividend. The installment of $0.75 per share, or
approximately $272 million, is based upon the number of currently outstanding
shares. The installment represents the second of four quarterly installments
totaling $3.00 per share, or approximately $1.1 billion in the aggregate, from
additional paid-in capital ("APIC") approved by shareholders at the company's
2014 Annual General Meeting held on May 16, 2014.

2014 Dividend Schedule - Second Installment

  oAugust 20, 2014 - Ex-Dividend Date
  oAugust 22, 2014 - Record Date
  oSeptember 17, 2014 - Installment Payment Date

Currency Election Period

For shareholders who elect to receive the second dividend installment in Swiss
francs ("CHF"), on or about September 15, 2014, the dividend payment will be
converted into CHF by Computershare. The equivalent CHF per share will be
posted to the company's website at www.deepwater.com. Shareholders who wish
to receive the payment in CHF must make their election between 5 p.m. EDT (11
p.m. CEST) on August 25, 2014 and 8 p.m. EDT on August 29, 2014 (2 a.m. CEST
August 30, 2014).

NO ACTION IS REQUIRED IF YOU WISH TO RECEIVE YOUR DIVIDEND IN U.S. DOLLARS.

Holders of shares registered in the share register who would like to receive
this installment in CHF must send their election during the election period,
in writing, to the following address:

  oComputershare Attn: Steven Myers, 480 Washington Boulevard, 29^th Floor,
    Jersey City, NJ 07310 USA
  oEmail: steven.myers@computershare.com
  oPhone: +1 201-680-5333


If you hold your shares in the name of a bank, broker or nominee, you must
contact them directly to make the election arrangements.

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. Forward-looking statements which could be made include, but are not
limited to, the dividend and timing of dividend payments. These include but
are not limited to operating hazards and delays, risks associated with
international operations, actions by customers and other third parties, the
future prices of oil and gas and other factors, including those discussed in
the company's most recent Form 10-K for the year ended December 31, 2013 and
in the company's other filings with the SEC, which are available free of
charge on the SEC's website at www.sec.gov. Should one or more of these risks
or uncertainties materialize (or the other consequences of such a development
worsen), or should underlying assumptions prove incorrect, actual results may
vary materially from those indicated or expressed or implied by such
forward-looking statements. All subsequent written and oral forward-looking
statements attributable to the company or to persons acting on our behalf are
expressly qualified in their entirety by reference to these risks and
uncertainties. You should not place undue reliance on forward-looking
statements. Each forward-looking statement speaks only as of the date of the
particular statement, and we undertake no obligation to publicly update or
revise any forward-looking statements. All non-GAAP financial measure
reconciliations to the most comparative GAAP measure are displayed in
quantitative schedules on the company's website at www.deepwater.com.

This press release does not constitute an offer to sell, or a solicitation of
an offer to buy, any securities, and it does not constitute an offering
prospectus within the meaning of article 652a or article 1156 of the Swiss
Code of Obligations or a listing prospectus within the meaning of the listing
rules of the SIX Swiss Exchange. Investors must rely on their own evaluation
of Transocean Ltd. and its securities, including the merits and risks
involved. Nothing contained herein is, or shall be relied on as, a promise or
representation as to the future performance of Transocean Ltd.

About Transocean

Transocean is a leading international provider of offshore contract drilling
services for oil and gas wells. The company specializes in technically
demanding sectors of the global offshore drilling business with a particular
focus on deepwater and harsh environment drilling services, and believes that
it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership interests in, and operates a fleet
of, 78 mobile offshore drilling units consisting of 47 high-specification
floaters (ultra-deepwater, deepwater and harsh-environment drilling rigs), 21
midwater floaters and 10 high-specification jackups. In addition, the company
has eight ultra-deepwater drillships and five high-specification jackups under
construction.

For more information about Transocean, please visit the website
www.deepwater.com.

Analyst Contacts:
Thad Vayda
+1 713-232-7551


Diane Vento
+1 713-232-8015

Media Contact:
Chris Kettmann
+1 713-232-7647

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Transocean Ltd via Globenewswire
HUG#1848419
 
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