HOUSTON, July 15 /PRNewswire-FirstCall/ -- Rowan Companies, Inc. (NYSE: RDC) today announced that it intends to offer, subject to market and other conditions, $375 million of senior unsecured notes through a registered public offering. The notes will bear interest at a fixed rate and will mature in 2019. (Logo: http://www.newscom.com/cgi-bin/prnh/20081031/DA43093LOGO) The notes offering and sale will be made under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on July 15, 2009. The proceeds from the notes offering will be used for general corporate purposes. In connection with the notes offering, Barclays Capital Inc., Goldman, Sachs & Co., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities will be made only by means of a prospectus and related prospectus supplement. Copies of the prospectus and preliminary prospectus supplement in respect of any of these securities may be obtained from Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-888-603-5847 or by e-mailing ; Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, NY 10004, Telephone: 1-866-471-2526, Facsimile: 212-902-9316, or by emailing ; Citigroup Global Markets Inc., Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Telephone: 1-877-858-5407 by e-mailing ; Deutsche Bank Securities Inc., 100 Plaza One, Second Floor, Jersey City, NJ 07311, Telephone: 1-800-503-4611; and Wells Fargo Securities, LLC, Attn: Syndicate Operations, 1525 West W.T. Harris Boulevard, Charlotte, North Carolina 28262-0675, Telephone: 1-800-326-5897 or by e-mailing . Rowan Companies, Inc. is a worldwide provider of contract drilling services utilizing a fleet of 22 high-spec offshore jack-up rigs and 32 deep-well land drilling rigs. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries. The press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are subject to a number of risks, uncertainties and assumptions, including the factors described in Rowan Companies, Inc.'s most recent periodic reports and other documents filed with the Securities and Exchange Commission, which are available free of charge at the SEC's Web site at http://www.sec.gov/. Rowan Companies, Inc. cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements. There can be no assurance that the transactions contemplated in this press release will be completed. Rowan Companies, Inc. assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made. http://www.newscom.com/cgi-bin/prnh/20081031/DA43093LOGO http://photoarchive.ap.org/ DATASOURCE: Rowan Companies, Inc. CONTACT: Suzanne M. McLeod, Director of Investor Relations of Rowan Companies, Inc., +1-713-960-7517,

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