Ensco Plc

Ensco plc has commenced cash tender offers to purchase up to $492.5 million aggregate purchase of the outstanding notes of Ensco and its wholly owned subsidiary Pride International Inc. No more than $235 million aggregate purchase price, exclusive of accrued interest, of 6.875% senior notes due 2020 and 4.7% senior notes due 2021 will be purchased in the tender offers.

Concurrent with the notes offering, Ensco is conducting offers to purchase for cash up to $492.5 million aggregate purchase price of the outstanding 8.5% senior notes due 2019 issued by Pride International, Inc., the outstanding 6.875% senior notes due 2020 and the outstanding 4.7% senior notes due 2021 issued by Ensco.

On Jan. 11, Ensco increased the maximum aggregate purchase price to $985 million. In addition, it increased the maximum aggregate purchase price, exclusive of accrued interest, of 6.875% senior notes due 2020 and 4.7% senior notes due 2021 to $728 million.