Transocean Receives Shareholder Proposal for $4.00/Share Dividend from Icahn Affiliated Funds

Transocean Ltd.

today announced that certain Funds affiliated with Carl Icahn submitted to the company for vote at its 2013 Annual General Meeting of Shareholders ("AGM") a dividend proposal of $4.00 per share. Additionally, the Funds provided a notice of nomination of 3 director candidates for election to Transocean's Board of Directors at its 2013 AGM and a proposal to repeal the company's staggered board. The Transocean Board of Directors will evaluate the proposals in due course.FOR FURTHER INFORMATION PLEASE CONTACT: Guy Cantwell713-232-7647