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    Noble Drilling approves corporate restructuring

    News // February 15, 2002
    Noble Drilling Corporation has announced that its board of directors has unanimously approved a corporate restructuring, subject to stockholder approval, that will effectively result in Noble Drilling changing its domicile from Delaware to the Cayman Islands. Noble Corporation, the name of a Cayman Islands company that will be formed shortly as a subsidiary of Noble Drilling, will become the parent holding company of Noble Drilling and the other companies in the Noble corporate group.

    After completion of the restructuring, Noble Corporation and the Noble corporate group will continue to conduct the businesses now conducted by the Noble corporate group. The restructuring will be presented to stockholders of the Company for their approval at the 2002 annual meeting of stockholders of Noble Drilling.

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