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To: victorw who wrote (57296)	12/23/1999 11:55:00 AM
From: Ditchdigger	Read Replies (1) \| Respond to of 95453

victor,,"The record date for distribution of the shares of Sedco Forex to Schlumberger stockholders in the spin-off will be December 20, 1999. The spin-off will take place on December 30, 1999, and the merger will be completed on December 31, 1999. Upon completion of the merger, all the Sedco Forex shares received in the spin-off will be converted into shares of Transocean Sedco Forex. This will result in approximately 52% of Transocean Sedco Forex being held by Schlumberger stockholders, with no continuing ownership by Schlumberger Limited. The remaining 48% will be held by Transocean Offshore shareholders." Got to run,later..DD