Rowan to add Steel Partners member to board

Rowan Companies and Steel Partners II have entered into a letter agreement, under which Rowan will nominate one new member designated by Steel Partners to its board of directors.

Offshore staff

HOUSTON -- Rowan Companies and Steel Partners II have entered into a letter agreement, under which Rowan will nominate one new member designated by Steel Partners to its board of directors. The Board will recommend and solicit proxies for the election of the new Steel Partners designee together with three other nominees to be chosen by the board. Immediately before the election, Rowan will expand the size of the board from 11 members to 12 members.

02/10/2009

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