Diamond Offshore Drilling, Inc. Declares Cash Dividend of $0.125 Per Share

Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that its Board of Directors has declared a quarterly cash dividend of $0.125 per share of common stock, payable on September 4, 2007 to shareholders of record on August 3, 2007.

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. and access to the Companys SEC filings is available on the Internet at www.diamondoffshore.com.

Contacts:

Diamond Offshore Drilling, Inc.
Les Van Dyke, 281-492-5370
Director, Investor Relations

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