X0202 4 2005-02-04 0 0000085408 ROWAN COMPANIES INC RDC 0001183399 AYCOCK LYNDA A 2800 POST OAK BLVD. SUITE 5450 HOUSTON TX 77056-6127 0 1 0 0 Asst. Treas./Asst. Secretary Common Stock 2005-02-02 4 M 0 17000 0 A 26799 D Common Stock 2005-02-03 4 S 0 17000 29.29 D 9799 D Option (Right to Buy) 19.625 2005-02-02 4 M 0 2000 0 D 2001-04-25 2007-04-25 Common Stock 2000 0 D Option (Right to Buy) 19.75 2005-02-02 4 M 0 5000 0 D 2002-04-24 2008-04-24 Common Stock 5000 0 D Option (Right to Buy) 18.25 2005-02-02 4 M 0 10000 0 D 2004-04-27 2010-04-27 Common Stock 10000 0 D Reflects the Reporting Person's aggregated directly-owned shares and indirectly-owned shares (3,886), the latter being shares in the Rowan Common Stock Fund under the Company's 401(k) plan (a unitized plan) at December 31, 2004, such number of shares, which fluctuates, being calculated as equivalent values based upon the value of the total units divided by the corresponding closing price of the underlying Rowan Common Stock on that date. Reflects options granted April 25, 1997, April 24, 1998 and April 27, 2000 under the Rowan Companies, Inc. 1988 Nonqualified Stock Option Plan in a transaction exempt under Rule 16b-3. Each option, which became exercisable 25% for each year from the date of grant, has now been fully excercised. /s/ Lynda A. Aycock 2005-02-04