EXHIBIT 99.1


FOR IMMEDIATE RELEASE                                     CONTACT:  LES VAN DYKE
                                                    DIRECTOR, INVESTOR RELATIONS
                                                                  (281) 492-5370


                    DIAMOND OFFSHORE DRILLING, INC. ANNOUNCES
                     PRICING OF $250 MILLION OF SENIOR NOTES

Houston, Texas, June 9, 2005 -- Diamond Offshore Drilling, Inc. (NYSE:DO) today
reported the pricing of $250 million principal amount of the Company's 4.875%
senior unsecured notes due July 1, 2015. The notes were offered at 99.785%% of
the principal amount. Closing of the transaction is scheduled for June 14, 2005,
subject to customary closing conditions. The Company intends to use the net
proceeds from the sale of the notes for general corporate purposes.

This notice does not constitute an offer to sell or the solicitation of an offer
to buy securities. Any offers of the securities will be made only by means of a
private offering memorandum. The notes have not been registered under the
Securities Act of 1933, as amended, or the securities laws of any other
jurisdiction and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.

Diamond Offshore provides contract drilling services to the energy industry
around the globe and is a leader in deepwater drilling. The Company's fleet of
45 offshore drilling rigs consists of 30 semisubmersibles, 14 jack-ups and one
drillship.

Statements in this press release may contain "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and are
inherently subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those anticipated or projected. A
discussion of the risk factors that could impact these areas and the Company's
overall business and financial performance can be found in the Company's reports
and other filings with the Securities and Exchange Commission. These factors
include, among others, general economic and business conditions, casualty
losses, industry fleet capacity, changes in foreign and domestic oil and gas
exploration and production activity, competition, changes in foreign, political,
social and economic conditions, regulatory initiatives and compliance with
governmental regulations, customer preferences and various other matters, many
of which are beyond the Company's control. Given these concerns, investors and
analysts should not place undue reliance on forward-looking statements. Each
forward-looking statement speaks only as of the date of this press release. The
Company expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statement to reflect any change
in the Company's expectations with regard thereto or any change in events,
conditions or circumstances on which any forward-looking statement is based.


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