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Diamond Offshore Drilling Inc. to Host Conference Call and Webcast of Presentation at Loews Analyst Conference

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HOUSTON--(BUSINESS WIRE)--May 27, 2003--Diamond Offshore Drilling Inc. (NYSE:DO) announced today that it will host a webcast and conference call of its presentation at the June 2, 2003 Loews Analyst Conference in New York. The Company's presentation, which will provide an overview of the industry and discuss Diamond Offshore's strategic initiatives and financials, is scheduled to begin at approximately 11:00 a.m. EDT.

The 800 number to participate in this conference call is 800/289-0529. Those individuals calling in from international locations may participate by dialing 913/981-5523. We suggest that you call in approximately 10 minutes prior to the start of the call. There will be a digital replay of the conference call for 48 hours after the original call. The phone number for the digital replay is 888/203-1112 or internationally 719/457-0820, and the confirmation for entry is 736421.

Also, Diamond Offshore will provide an online, real-time simulcast and rebroadcast of its presentation at the Loews Analyst Conference. The live broadcast of our slide presentation will be available online at www.diamondoffshore.com on June 2, 2003, beginning at approximately 11:00 a.m. Eastern Daylight Time. The online replay will follow immediately and continue for 5 days after the original call. Please go to the Web site at least 15 minutes before the broadcast to register, download and install any necessary audio software. The entire Loews Analyst Conference, along with various presentation materials, may also be accessed beginning at 8:00 a.m. EDT through Loew's Web site, which can be found at www.loews.com.

Diamond Offshore is a leader in deep water drilling. The Company's fleet of 47 offshore drilling rigs consists of 32 semisubmersibles, 14 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents. Additional information on Diamond Offshore Drilling Inc. is available on the Internet at http://www.diamondoffshore.com.

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