Ocean Rig Redomiciles to Cayman Islands

Ocean Rig UDW Inc. (NASDAQ:ORIG) (“Ocean Rig” or the “Company”), a global provider of offshore deepwater drilling services, has  moved its corporate domicile from the Republic of the Marshall Islands to the Cayman Islands.

Effective April 15, 2016, Ocean Rig’s common shares will commence trading under new CUSIP number G66964100.

All shares of Ocean Rig will automatically convert by operation of law into shares of the same class of the redomiciled Ocean Rig on a one-for-one basis. A registration statement on Form F-4 relating to the common shares of Ocean Rig has been declared effective by the Securities and Exchange Commission. This press release is neither an offer to purchase nor a solicitation of an offer to sell or exchange securities. No offer, solicitation, purchase, sale or exchange will be made in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful.

The change of corporate domicile will not affect the day-to-day business and operations of Ocean Rig.