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Diamond Offshore Drilling Inc. Declares Cash Dividend

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HOUSTON--(BUSINESS WIRE)--Jan. 25, 2005--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 March 1, 2005 to stockholders of record on Feb. 1, 2005.

Diamond Offshore provides contract drilling services to the energy industry around the globe and 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. Additional information on Diamond Offshore Drilling Inc. and access to the Company's SEC filings is available on the Internet at www.diamondoffshore.com.

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

SOURCE: Diamond Offshore Drilling Inc.