Rowan to Ring the Closing Bell Marking 35 Years on New York Stock Exchange

HOUSTON, Dec. 13, 2010 /PRNewswire/ -- Rowan Companies, Inc. (“Rowan” or the “Company”) (NYSE: RDC) a leading provider of high-specification offshore jack-up drilling rigs, today announced that its management team and board of directors will commemorate the Company’s 35^th anniversary as a public company on the New York Stock Exchange (“NYSE”) by ringing The Closing Bell at 4:00p.m. ET on Monday, December 13, 2010. 

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“We are very pleased to have reached this milestone and celebrate this special moment with the NYSE”, said Matt Ralls, President and CEO of Rowan.  “Our company and employees are committed to being recognized by our customers as the most efficient and capable provider of demanding drilling services.  We look forward to continuing this commitment to our customers and our relationship with the NYSE.”

Rowan Companies, Inc. is a worldwide provider of contract drilling services utilizing a fleet of 26 offshore jack-up rigs and 28 actively marketed 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.

SOURCE Rowan Companies, Inc.