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EXHIBIT 99.1
[SANTA FE LETTERHEAD]
NEWS RELEASE
FOR IMMEDIATE RELEASE
SANTA FE INTERNATIONAL CORPORATION
PUBLIC OFFERING COMPLETED
Dallas, July 3, 2000 - Santa Fe International Corporation (NYSE:SDC) announced
today the closing of the public offering of 30 million of the Company's ordinary
shares by its principal shareholder, SFIC Holdings (Cayman), Inc., a
wholly-owned subsidiary of Kuwait Petroleum Corporation. The Company did not
receive any of the proceeds from this offering.
Kuwait Petroleum Corporation now beneficially owns 44.5 million or approximately
39% of Santa Fe International Corporation's ordinary shares. Approximately 71
million of the Company's outstanding shares, or 61%, are now in the public
float.
Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated, Credit Suisse First
Boston Corporation and Salomon Smith Barney Inc. served as managing underwriters
for the offering. A copy of the final prospectus relating to these securities
can be obtained from the offices of Goldman, Sachs & Co., 85 Broad Street, New
York, NY 10004 (telephone 212/902-5400).
Santa Fe International Corporation is a leading international offshore and land
contract driller. The Company owns and operates a high quality, technologically
advanced fleet of 27 marine drilling rigs and 33 land drilling rigs and is a
provider of drilling related services to the petroleum industry.
