HOUSTON, Nov. 3 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC) (the
"Company") announced that it has set November 13, 2000, as the record date for
notice of the redemption of up to 105,000 shares of its 13 7/8% Senior
Cumulative Redeemable Preferred Stock. The redemption date will be December
15, 2000, and the redemption price will be $1,138.75 per share plus accrued
and unpaid dividends to December 15, 2000. Shares to be redeemed will be
selected on a pro rata basis based on the shares outstanding as of the
redemption date. Any shares of preferred stock purchased by the Company on or
before the redemption date under the pending tender offer for the preferred
stock will not be subject to the redemption because they will no longer be
outstanding on the redemption date. After the record date, stamped share
certificates will be issued upon any transfer of record of the shares to be
redeemed. The paying agent for the preferred stock is American Stock Transfer
& Trust Company, 59 Maiden Lane, New York, New York 10038.
R&B Falcon Corporation operates the world's largest fleet of marine-based
drilling rigs servicing the international oil and gas industry. Its fleet is
composed of 138 marine-based drilling units including the industry's largest
fleets of barge and jackup rigs, and a fleet of semisubmersibles and
drillships which is among the most capable in the world. R&B Falcon also
provides turnkey and integrated services and operates mobile production units,
internationally-based land drilling rigs and an offshore towing business.
This communication contains forward-looking statements that are based upon
utilization, day rate and business condition assumptions that the Company
currently believes are reasonable and achievable. The Company can give no
assurance that such assumptions will prove to have been correct. Therefore,
actual results could differ materially from the information presented. The
Company's periodic reports filed with the Securities and Exchange Commission
should be consulted for a description of risk factors associated with an
investment in the Company.
SOURCE R&B Falcon Corporation
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CONTACT:
R&B Falcon Corporation, 281-496-5000
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