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Notice Of Annual General Meeting

Ocean Rig (Other OTC: OCNRF.PK) Stavanger, Norway

Notice is hereby given that the Annual General Meeting of Ocean Rig ASA will be held on Monday, June 30, 2008, at 11:00 a.m. (CET) in Ocean Rig's offices in Vestre Svanholmen 6, 4313 Sandnes, Norway.

The complete notice including notice of attendance and proxy form is attached and can also be downloaded from www.ocean-rig.com.

Ocean Rig owns and operates two of the world's largest and most modern drilling rigs, built for ultra deep waters and extreme weather conditions. The units are currently operating in the US Gulf of Mexico and offshore Ireland.

NOTE: This press release contains forward-looking statements (within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended) which reflect the Company's current views with respect to certain future events and financial performance. Actual events or results may differ materially from those projected or implied in such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or otherwise. The following important factors, among other, could cause actual results to differ materially from those projected or implied in any forward-looking statements: (i) our results of operation and financial conditions in the future; (ii) the performance of our rigs, including the sufficiency of their design and their ability to prevent discharges of hazardous materials and pollutants; (iii) our ability to generate sufficient cash-flow to meet our debt service requirements; (iv) our ability to retain existing contracts and secure future drilling contracts for our rigs at attractive day rates; (v) our ability to perform our operations in accordance with our plans; (vi) the impact of changed conditions in the oil and gas industry; (vii) the occurrence of any accidents involving the Company or its assets; (viii) changes in governmental regulations, particularly with respect to environmental matters; (ix) increased competition or the entry of new competitors into the Company's markets; and (x) unforeseen occurrences in any of the areas in which the Company may conduct its operations, such as war, expropriation, nationalization, renegotiation or nullification of existing licenses or treaties, taxation and resource development policies, foreign exchange restrictions, changing political conditions and other risks relating to foreign governmental sovereignty over certain areas in which the Company will conduct operations. Due to such uncertainties and risks, investors are cautioned not to place undue reliance upon such forward-looking statements.

For further information, please contact Finance Manager Andreas Lian Kvam, tel (+47) 51 96 90 00

Stavanger, June 11, 2008 Ocean Rig ASA

LINK: http://hugin.info/207/R/1227149/259939.pdf

LINK: http://hugin.info/207/R/1227149/259941.pdf

Ocean Rig

http://www.ocean-rig.com

ISIN: NO0003066300

Stock Identifier: XOSL.OCR

US: Other OTC: OCNRF.PK

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