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Exhibit (a)(1)(H)
FOR IMMEDIATE RELEASE R&B Falcon Corporation
901 Threadneedle
Suite 200
Houston, Texas 77079
CONTACT:
Georgeson Shareholder
Communications Inc.
17 State Street, 10th Floor
New York, New York 10004
Call Toll Free (800) 223-2064
R&B FALCON CORPORATION ANNOUNCES CLOSING OF
COMMON STOCK OFFERING
November 2, 2000, Houston, Texas -- R&B Falcon Corporation (the
"Company") announced that it has closed a public offering of 16,300,000 shares
of its common stock at a price to the public of $24.75 per share, generating
net proceeds of $399.7 million. As a result, the Company has announced that the
financing condition to its tender offer to purchase for cash any and all of the
issued and outstanding shares of its 137/8% Senior Cumulative Redeemable
Preferred Stock at a fixed price of $1,300.00 per share has been satisfied. The
tender offer, which commenced on October 27, 2000, will expire at 5:00 p.m.
(Eastern Time) on Wednesday, November 29, 2000, unless it is extended. The
Dealer Managers for the tender offer are Goldman, Sachs & Co. and Morgan
Stanley & Co., Incorporated.
The Offer to Purchase, the Letter of Transmittal and all related
materials for the tender offer are available for free at the Securities and
Exchange Commission's web site at "www.sec.gov". Materials may also be obtained
for free by contacting Georgeson Shareholder Communications, the Information
Agent for the Tender Offer.
STOCKHOLDERS ARE ENCOURAGED TO READ CAREFULLY THE OFFER TO PURCHASE,
THE LETTER OF TRANSMITTAL AND ALL RELATED MATERIALS, WHICH CONTAIN IMPORTANT
INFORMATION AND DESCRIBE THE TENDER OFFER IN DETAIL. SUCH MATERIAL HAS BEEN
MAILED TO ALL STOCKHOLDERS OF RECORD OF THE PREFERRED STOCK AND MADE AVAILABLE
FOR DISTRIBUTION TO BENEFICIAL OWNERS OF THE PREFERRED STOCK.
