On 31 May 2011, Ensco completed its acquisition of Pride International, Inc. Under the terms of the agreement, with exceptions for certain UK residents and dissenting stockholders, Pride International stockholders are receiving 0.4778 newly-issued shares of Ensco plus $15.60 in cash for each share of Pride International common stock. Shares not timely certified as to UK residency were sold at the net rate of $52.90686400 per share and allocated to DTC participants on 14 July 2011. Holders of Pride common stock should read "Important Information for Pride Stockholders" below for information regarding receipt of their cash and Ensco shares.

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FAQ Regarding the Pride Acquisition

Is the acquisition a taxable event to U.S. shareholders of Pride common stock, and if so, what is the fair market value?

IRS Form 8937 Report of Organizational Actions Affecting Basis of Securities