Diamond Offshore Drilling, Inc. to Present at Loews Investor Meeting

Diamond Offshore Drilling, Inc. announced that it will provide an overview of the offshore drilling industry and discuss the Company’s strategic initiatives at the Loews Corporation Investor Meeting in New York on Wednesday, November 5, 2008. Presentations by Loews’ senior management and the senior management of its subsidiary companies will commence at 8:30 a.m. Eastern Time and conclude by approximately 12:00 p.m.

Diamond Offshore will provide an online, real-time simulcast of its presentation at the Loews Corporation Investor Meeting, which, along with visual presentation materials, will be available online at www.diamondoffshore.com. A replay of the presentation will be archived on the Company’s website shortly after the presentation is concluded. Please go to the Diamond Offshore web site at least 10 minutes before the broadcast to register, download and install any necessary audio software. The entire conference, along with various presentation materials, may also be accessed through Loews’ website, which can be found at www.loews.com.

Diamond Offshore provides contract drilling services to the energy industry around the globe and is a leader in deepwater drilling. Additional information on Diamond Offshore Drilling, Inc. is available on the Internet at http://www.diamondoffshore.com.