ROWAN COMPANIES, INC. OFFSHORE RIG FLEET AND CONTRACT STATUS As of May 20, 2010

OFFSHORE RIGS

						Contract Status
	LeTourneau	Depth (feet)		Year in				Day Rate	Estimated
Name	Class	Water	Drilling	Service	Location	Customer		(in thousands)	Duration	Comments ($ in thousands)
Cantilever Jack-up Rigs:
Rowan EXL IV	S116-E	350	35,000	2012	TBD	TBD		TBD	TBD	Rig currently under construction with delivery expected in Q1 2012.
Joe Douglas	240-C	400	35,000	2011	TBD	TBD		TBD	TBD	Rig currently under construction with delivery expected in Q3 2011.
Rowan EXL III	S116-E	350	35,000	2011	TBD	TBD		TBD	TBD	Rig currently under construction with delivery expected in Q1 2011.
Rowan EXL II	S116-E	350	35,000	2010	TBD	TBD		TBD	TBD	Rig currently under construction with delivery expected in Q3 2010.
Rowan EXL I	S116-E	350	35,000	2010	Gulf of Mexico	McMoRan		Mid 70s	August 2010	Rig expected to commence operations in late May 2010.
								Low 140s	July 2011
Ralph Coffman	240-C	400	35,000	2009	Gulf of Mexico	McMoRan		Low 180s	October 2010
J.P. Bussell	225-C	300	35,000	2008	Egypt	Shell		Low 180s	May 2011
Rowan-Mississippi	240-C	375	35,000	2008	Gulf of Mexico	McMoRan		Low 180s	November 2010
Hank Boswell	225-C	300	35,000	2006	Middle East	Saudi Aramco		Low 190s	March 2011
Bob Keller	225-C	300	35,000	2005	Middle East	Saudi Aramco		Low 180s	May 2011
Scooter Yeargain	225-C	300	35,000	2004	Middle East	Saudi Aramco		Low 190s	March 2011
Bob Palmer	224-C	550	35,000	2003	Gulf of Mexico	El Paso		Low 100s	May 2010
						Apache		Low 110s	September 2010
Rowan Gorilla VII	219-C	400	35,000	2002	West Africa	Cabinda		Mid 310s	July 2010
					North Sea	Apache		Low 180s	February 2012	Rig is expected to mobilize to the North Sea during early Q3 2010 and commence operations end of Q3 2010.
Rowan Gorilla VI	219-C	400	35,000	2000	North Sea	BG		High 390s	July 2010	Day rate includes amortization of contract mobilization/modification revenues.
							Low 300s (NOR)		July 2011	BG extended the contract for another 12 months and has the option of operating the rig in Norway at a day rate in the low $300s or in the UK at a day rate in the mid $210s.
							Mid 210s (UK)
Rowan Gorilla V	219-C	400	35,000	1998	North Sea	Total		Low 150s	May 2010	Rig is currently in shipyard for modifications and was idle for 3 days during the month of April 2010.
								Low 160s	May 2011	Day rate includes estimated amortization of lump-sum fee for modifications.
								Low 180s	May 2012
Rowan Gorilla IV	200-C	450	35,000	1986	Mexico	PEMEX		Low 130s	July 2011	The day rate reprices every three months based on an index of jack-up rates.  The day rate reflects rig's repricing at the end of April 2010.
Rowan Gorilla III	200-C	450	30,000	1984	Eastern Canada	EnCana		Mid 280s	September 2010
Rowan Gorilla II	200-C	450	30,000	1984	Gulf of Mexico	undisclosed		Low 190s	August 2010
Rowan-California	116-C	300	30,000	1983	Middle East	Wintershall		Mid 70s	June 2011	Rig is contracted for two wells expected to commence in early June 2010.  Rig was in the shipyard during the month of April 2010 and is currently undergoing upgrades for Wintershall work.
Cecil Provine	116-C	300	30,000	1982	Gulf of Mexico	Apache		Low 60s	July 2010
Gilbert Rowe	116-C	350	30,000	1981	Middle East	Maersk		Mid 70s	March 2011
Arch Rowan	116-C	350	30,000	1981	Middle East	Available				Rig is currently in the shipyard for general maintenance and upgrades and was in the shipyard during the month of April 2010.
Charles Rowan	116-C	350	30,000	1981	Middle East	Available				Rig is currently in the shipyard for general maintenance and upgrades and was in the shipyard during the month of April 2010.
Rowan-Paris	116-C	350	30,000	1980	Middle East	Maersk		Mid 70s	March 2011
Rowan-Middletown	116-C	350	30,000	1980	Middle East	Available				Rig is currently in the shipyard for general maintenance and upgrades and was in the shipyard during the month of April 2010.
Conventional Jack-up Rigs:
Rowan-Juneau	116	250	30,000	1977	Gulf of Mexico	Available				Rig was idle during the month of April 2010.
Rowan-Alaska	84	350	30,000	1975	Gulf of Mexico	undisclosed		Low 190s	May 2010
Rowan-Louisiana	84	350	30,000	1975	Gulf of Mexico	Helix		Mid 50s	June 2010	Rig was idle for 13 days during the month of April 2010.
						McMoRan		Mid 50s	December 2010

Rig Class denotes LeTourneau, Inc. hull number. 200-C is a Gorilla class unit designed for extreme hostile environment capability. 219-C is a Super Gorilla class unit, an enhanced version of the Gorilla class, and 224-C is a Super Gorilla XL design. 225-C is a Tarzan Class unit.  240-C is LeTourneau's latest jack-up design.  Rowan EXL is an enhanced version of the Super 116E class.  Unless otherwise indicated, all day rates include estimated amortization of contract mobilization/modification revenues. Estimated contract durations reflect either stated drilling periods or expected time required for the contracted well or wells.
   
ROWAN HEREBY ADVISES THAT THE TABLE SET FORTH ABOVE MAY CONTAIN INACCURATE, INCOMPLETE AND/OR INCORRECT INFORMATION AND IS SUBJECT TO CHANGE AT ANY TIME. THE INFORMATION SHOULD NOT BE RELIED UPON FOR ANY PURPOSE, AND ROWAN HEREBY DISCLAIMS ANY LIABILITY RELATING TO THE USE OF THE INFORMATION SET FORTH ABOVE.
    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. Relevant factors have been disclosed in the Company's filings with the U. S. Securities and Exchange Commission.

Revisions to Fleet Status Report Noted in Bold