October 21, 2003

GlobalSantaFe Corporation's worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2003 was up 4.2% from the previous month's SCORE. In contrast to the world trend, though, the Gulf of Mexico and S.E. Asian SCORE's fell by 0.7% and 0.8% respectively.

SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.

In addition to a worldwide SCORE covering key types of competitive offshore drilling rigs in key drilling markets, a separate SCORE is calculated for certain types of rigs and certain regions to indicate the relative condition of rig markets.

SCORE September 2003
	Sep-03	Aug-03	1 Month	1 Year	5 Year
	SCORE	SCORE	Change	Change	Change
By Area:
Gulf of Mexico	34.1	34.4	-0.7%	3.3%	-19.4%
North Sea	45.9	42.6	7.8%	4.1%	-39.3%
West Africa	49.3	46.6	5.9%	-8.8%	-25.3%
SE Asia	48.0	48.4	-0.8%	2.9%	-24.1%
By Type:
Jackup	46.7	44.2	5.5%	-5.0%	-22.0%
Semisubmersible	36.1	35.8	1.0%	7.5%	-42.5%