HOUSTON, Feb 14, 2002 (BUSINESS WIRE) -- Transocean Sedco Forex Inc. (NYSE:RIG) today announced that its board of directors has declared a cash dividend of $0.03 per share for the company's ordinary shares. The dividend is payable on March 15, 2002 to shareholders of record on March 1, 2002.

Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor with more than 160 fully or partially owned or operated mobile offshore drilling units, inland drilling barges and other assets utilized in the support of offshore drilling activities worldwide. The company's mobile offshore drilling fleet is considered one of the most modern and versatile in the world with 31 high-specification semisubmersibles and drillships, 29 other semisubmersibles and one drillship (other floaters), and 54 jackup drilling rigs, of which 28 are located in the U.S. Gulf of Mexico. Transocean Sedco Forex specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. With a current equity market capitalization of approximately $9 billion, the company's ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

CONTACT:          Transocean Sedco Forex Inc., Houston
                  Analyst Contact: Jeffrey L. Chastain, 713/232-7551
                  or
                  Media Contact: Guy A. Cantwell, 713/232-7647

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