Rule 424(b)(3)
33-62727
SUPPLEMENT NUMBER 2 DATED JANUARY 5, 1996
TO PROSPECTUS DATED SEPTEMBER 26, 1995
READING & BATES CORPORATION
Common Stock
The Prospectus dated September 26, 1995 is hereby supplemented by
the addition of the following information under the caption "SELLING
STOCKHOLDERS" therein.
Chemical Investments, Inc. notified the Company on January 5, 1996
that on February 16, 1994 its wholly owned subsidiary, RBY, Ltd., was
dissolved and Chemical Investments, Inc. succeeded to all right, title and
interest of RBY, Ltd. in and to the 2,517,409 Shares owned by it.
