X0202 4 2005-04-22 0 0000085408 ROWAN COMPANIES INC RDC 0001183344 FOX WILLIAM T III 11 TOWER HILL ROAD BRIARCLIFF MANOR NY 10510 1 0 0 0 Restricted Stock Units 0 2005-04-22 2005-05-09 4 A 0 3000 0 A 2005-04-22 1988-08-08 Common Stock 3000 3000 D Restricted Stock Units 0 2005-04-22 2005-05-09 4 A 0 2700 0 A 2006-04-28 1988-08-08 Common Stock 2700 2700 D These "1-for-1" restricted stock units, which were approved by the Issuer?s Board of Directors on July 22, 2004 but were subject to shareholder approval of the 2005 Rowan Companies, Inc. Long-Term Incentive Plan on April 22, 2005 relate to the Reporting Person?s director annual service period that ended April 22, 2005 and became fully vested and nonforfeitable on April 22, 2005. The Reporting Person acknowledged and accepted such restricted stock units on May 9, 2005. These "1-for-1" restricted stock units, which were approved by the Issuer?s Board of Directors on April 22, 2005, relate to the Reporting Person?s director annual service period that began April 22, 2005 and become fully vested and nonforfeitable on April 28, 2006, which is the next regularly-scheduled annual stockholders? meeting of the Issuer. The Reporting Person acknowledged and accepted such restricted stock units on May 9, 2005. The payout from the Reporting Person?s restricted stock units account (in Issuer common stock or, at the discretion of the Issurer?s Compensation Committee, in cash) will occur upon the termination date of the Reporting Person?s service on the Board. ***See Power of Attorney attached /s/ Mark Hay*** 2005-05-10