GlobalSantaFe Announces Executive Management Changes; Matt Ralls Named Chief Operating Officer; Mike Dawson Promoted to CFO

HOUSTON, June 7 /PRNewswire-FirstCall/ -- Worldwide oil and gas drilling contractor GlobalSantaFe Corporation today announced the appointment of W. Matt Ralls as Executive Vice President and Chief Operating Officer and the promotions of Michael R. Dawson to Senior Vice President and Chief Financial Officer and Robert L. Herrin, Jr. to Vice President and Controller.

Ralls most recently served as Senior Vice President and CFO of GlobalSantaFe. He joined Global Marine, Inc., in 1997 as Vice President and Treasurer and was Senior Vice President, Chief Financial Officer and Treasurer of Global Marine prior to the November 2001 merger that created GlobalSantaFe. Ralls previously held executive positions at two publicly traded oil and gas companies and various management positions in commercial banking.

Dawson has served as Vice President and Controller of GlobalSantaFe since July of 2003. Previously, he served in the positions of Treasurer and Vice President of Investor Relations and Corporate Communications. Prior to joining the company, he held financial and investor relations management positions with Union Texas Petroleum and Shell Oil.

Herrin joined the company's internal audit staff in 1989 and held positions of increasing responsibility before his promotion to Vice President of Audit in 2002. He previously spent nine years at Tenneco Oil Company in both accounting and audit.

About GlobalSantaFe

GlobalSantaFe is a leading worldwide offshore oil and gas drilling contractor offering a full range of equipment and drilling management services. The company's diverse and technologically advanced fleet of 59 offshore rigs includes premium and heavy-duty, harsh-environment jackups, semisubmersibles, and dynamically positioned ultra-deepwater drillships. The company also operates two semisubmersibles owned by others. GlobalSantaFe is the world's leading provider of turnkey drilling and drilling management services. More information can be found at http://www.globalsantafe.com/ .

Contact Information Investors: Media: Richard Hoffman Julie Tushingham Tel: 281-925-6441 Tel: 281-925-6443 Cell: 713-417-4763