Rowan Schedules Release of Third Quarter Operating Results and Conference Call

Rowan Companies, Inc. (NYSE:RDC) will host a conference call on Tuesday, November 4, 2008 at 8:30 a.m. Central Time to discuss its operating results for the three months ended September 30, 2008, which will be released earlier that morning. Interested parties can listen to the conference call by telephone or over the Internet.

Individuals who wish to participate on the conference call by telephone should dial-in approximately 5 to 10 minutes prior to the scheduled start time, using one of the numbers provided. The access or confirmation code is 8224127.

877-718-5104 (U.S. and Canada)

719-325-4761 (International)

Alternatively, to access the online, real-time simulcast and rebroadcast of its third quarter 2008 operating results conference call, please visit Rowan’s website at www.rowancompanies.com. You should connect to our website at least 15 minutes prior to the conference call to register, download and install any necessary software.

About Rowan

Rowan Companies, Inc. is a major provider of international and domestic contract drilling services, with a significant presence in the Middle East. The Company also owns and operates a manufacturing division (LTI) that produces equipment for the drilling, mining and timber industries.

This report contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs and future expected financial performance of the Company that are based on current expectations and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected by the Company. Among the factors that could cause actual results to differ materially include oil and natural gas prices, the level of offshore expenditures by energy companies, energy demand, the general economy, including inflation, weather conditions in the Company’s principal operating areas and environmental and other laws and regulations. Other relevant factors have been disclosed in the Company’s filings with the U. S. Securities and Exchange Commission.