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Diamond Offshore Drilling Inc. Declares Cash Dividend

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HOUSTON--(BUSINESS WIRE)--Oct. 15, 2004--Diamond Offshore Drilling Inc. (NYSE:DO) today announced that its Board of Directors has declared a cash dividend of $0.0625 per common share, payable on Dec. 1, 2004 to stockholders of record on Nov. 1, 2004.

Diamond Offshore is a leader in deep water drilling. The Company's fleet of 45 offshore drilling rigs consists of 30 semisubmersibles, 14 jack-ups and one drillship. The fleet is located in the waters of six of the world's seven continents.

CONTACT: Diamond Offshore Drilling Inc., Houston
Les Van Dyke, 281-492-5370

SOURCE: Diamond Offshore Drilling Inc.