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EXHIBIT 99.1
FOR IMMEDIATE RELEASE R&B Falcon Corporation
901 Threadneedle
Suite 200
Houston, Texas 77079
R&B FALCON CORPORATION ANNOUNCES RESULTS OF TENDER OFFER
FOR PREFERRED STOCK
November 30, 2000, Houston, Texas -- R&B Falcon Corporation (the
"Company") announced that a total of 369,307.049 shares, out of a total of
369,343.099 outstanding shares, of its 13-7/8% Senior Cumulative Redeemable
Preferred Stock have been tendered in the cash tender offer by the Company for
such Preferred Stock. The tender offer, which commenced on October 27, 2000,
expired at 5:00 p.m. (Eastern Time) on Wednesday, November 29, 2000. The Company
has accepted all of the tendered shares under the terms of the tender offer. The
settlement date for payment of the tender offer price of $1,300 per share will
be Friday, December 1, 2000. The remaining 36.050 shares of Preferred Stock that
were not tendered in the tender offer will be redeemed on December 15, 2000 at a
price of $1,156.09 per share.
