Document:

R&B Falcon Corporation

                                    as Issuer

                                  $239,500,000

                           6.50% Senior Notes due 2003

                                  $350,000,000

                           6.75% Senior Notes due 2005

                                  $250,000,000

                           6.95% Senior Notes due 2008

                          First Supplemental Indenture

                          Dated as of February 14, 2002

                     To Indenture dated as of April 14, 1998

                              The Bank of New York

                                   as Trustee

<PAGE>
          FIRST  SUPPLEMENTAL  INDENTURE,  dated  as  of February 14, 2002 (this
"Supplemental  Indenture"),  between  R&B  Falcon  Corporation,  a  Delaware
corporation  (the  "Issuer"),  and  The  Bank  of  New  York,  as  trustee  (the
"Trustee").

          W I T N E S S E T H:

          WHEREAS,  the Issuer and The Chase Manhattan Bank, as a predecessor to
the  Trustee,  executed  and  delivered an Indenture, dated as of April 14, 1998
(the  "Indenture"),  providing for the issuance of $250,000,000 principal amount
of  6.50% Notes due 2003, $350,000,000 principal amount of 6.75% Notes due 2005,
$250,000,000 principal amount of 6.95% Notes due 2008 and $250,000,000 principal
amount  of  7.375%  Notes  due  2018;  all capitalized terms used herein and not
defined  are  used  herein  as  defined  in  the  Indenture;

          WHEREAS, pursuant to Section 8.02 of the Indenture, the Issuer and the
Trustee  may amend or supplement the Indenture with respect to the Securities of
any  series  with  the written consent of the Holders of a majority in aggregate
principal  amount  of  the  outstanding  Securities  of  such  series;

          WHEREAS,  Transocean  Sedco  Forex  Inc.,  a  Cayman  Islands  company
("Transocean  Sedco  Forex"),  has  offered  to  exchange all of the outstanding
Securities  of  each  series,  upon  the terms and subject to the conditions set
forth  in  its  Prospectus and Consent Solicitation Statement, dated January 31,
2002,  and in the related Letter of Transmittal and Consent (each such offer, an
"Exchange  Offer");  in  connection  therewith  Transocean  Sedco Forex has been
soliciting  written  consents  of the Holders to the amendments to the Indenture
set  forth  herein  (and  to  the execution of this Supplemental Indenture), and
Transocean  Sedco  Forex has now obtained such written consents from the Holders
of a majority in aggregate principal amount of the outstanding Securities of the
following  series:  6.50%  Notes  due 2003, 6.75% Notes due 2005 and 6.95% Notes
due 2008 (the "Applicable Series"); accordingly, this Supplemental Indenture and
the  amendments  set forth herein are authorized with respect to such Applicable
Series  pursuant  to  Section  8.02  of  the  Indenture  referred  to  above;

          WHEREAS, the execution and delivery of this Supplemental Indenture has
been duly authorized by the parties hereto, and all other acts necessary to make
this  Supplemental  Indenture  a  valid  and binding supplement to the Indenture
effectively  amending  the  Indenture  as set forth herein have been duly taken;

          NOW,  THEREFORE,  THIS  INDENTURE  WITNESSETH,  that,  for  and  in
consideration  of  the above premises, it is mutually covenanted and agreed, for
the  equal  and  proportionate  benefit  of all Holders of the Securities of the
Applicable  Series,  as  follows:

          Section  1.     Amendments  to  the  Indenture.
                          ------------------------------

          Upon  consummation  of  the  exchange by Transocean Sedco Forex of all
Securities  of any Applicable Series validly tendered pursuant to the applicable
Exchange  Offer and not withdrawn prior to the expiration date for such Exchange
Offer  (as  notified  to  the  Trustee  by  Transocean  Sedco  Forex  upon which
notification  the  Trustee may rely), then automatically (without further act by
any  person)  with  respect  to  the  Securities  of such Applicable Series: (a)
Sections  3.03,  3.05,  3.06,  3.07,  3.09, 3.10, 4.01 and 4.02 of the Indenture
shall  be  deleted  and  the  Issuer  shall  be  released  from  its obligations
thereunder, (b) any failure by the Issuer to comply with the terms of any of the
foregoing  Sections  of  the Indenture (whether before or after the execution of
this Supplemental Indenture) shall no longer constitute a default or an Event of
Default under the Indenture and shall no longer have any other consequence under
the  Indenture  and  (c)  Clauses  (4),  (5), (6) and (7) of Section 5.01 of the
Indenture shall be deleted and the events described therein no longer constitute
Events  of  Default  under  the  Indenture.  In  conjunction with the amendments
identified  in  the  immediately preceding sentence, the following defined terms
used  in  the  Indenture shall be deleted with respect to the Securities of such
Applicable  Series:  "Attributable  Indebtedness";  "Consolidated  Net  Worth";
"Indebtedness";  and  "Sale/Leaseback  Transactions".

          Section  2.     Ratification.
                          ------------

          Except  as  hereby expressly amended, the Indenture is in all respects
ratified  and  confirmed  and  all  the terms, provisions and conditions thereof
shall  be  and  remain  in  full  force  and  effect.

<PAGE>
          Section  3.     Governing  Law.
                          --------------

          THIS SUPPLEMENTAL INDENTURE, THE INDENTURE AS SUPPLEMENTED AND AMENDED
HEREBY AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH
THE  LAWS  OF  THE  STATE  OF  NEW  YORK.

          Section  4.     Counterpart  Originals.
                          ----------------------

          The  parties  may  sign  any  number  of  copies  of this Supplemental
Indenture.  Each  signed  copy  shall  be  an original, but all of them together
represent  the  same  agreement.  One  signed  copy  is  enough  to  prove  this
Supplemental  Indenture.

          Section  5.     The  Trustee.
                          ------------

          The  recitals  in  this  Supplemental  Indenture shall be taken as the
statements  of  the  Issuer  and the Trustee assumes no responsibility for their
correctness.  The  Trustee  shall  be  responsible  or accountable in any manner
whatsoever  for  or  with  respect  to  the  validly  or  sufficiency  of  this
Supplemental  Indenture.

          IN  WITNESS  WHEREOF, the parties hereto have caused this Supplemental
Indenture  to  be  duly  executed  as  of  the  date  first  written  above.

                                         R&B  Falcon  Corporation
                                         By:   /s/ GREGORY L. CAUTHEN
                                            ------------------------------------
                                            Name:  Gregory L. Cauthen
                                            Title: Vice President and  Treasurer

                                         The Bank of New York, as Trustee
                                         By:   /s/ REMO J. REALE
                                            ------------------------------------
                                            Name:  Remo J. Reale
                                            Title: Vice President

<PAGE>R&B Falcon Corporation

                                    as Issuer

                                  $250,000,000

                          7.375% Senior Notes due 2018

                          Second Supplemental Indenture

                           Dated as of March 13, 2002

                     To Indenture dated as of April 14, 1998

                              The Bank of New York

                                   as Trustee

<PAGE>
          SECOND  SUPPLEMENTAL  INDENTURE,  dated  as  of  March  13, 2002 (this
"Supplemental  Indenture"),  between  R&B  Falcon  Corporation,  a  Delaware
corporation  (the  "Issuer"),  and  The  Bank  of  New  York,  as  trustee  (the
"Trustee").

          W I T N E S S E T H:

          WHEREAS,  the Issuer and The Chase Manhattan Bank, as a predecessor to
the  Trustee,  executed  and  delivered an Indenture, dated as of April 14, 1998
(the  "Indenture"),  providing for the issuance of $250,000,000 principal amount
of  6.50% Notes due 2003, $350,000,000 principal amount of 6.75% Notes due 2005,
$250,000,000 principal amount of 6.95% Notes due 2008 and $250,000,000 principal
amount  of  7.375%  Notes  due  2018,  as supplemented by the First Supplemental
Indenture  thereto  dated  as  of  February 14, 2002; all capitalized terms used
herein  and  not  defined  are  used  herein  as  defined  in  the  Indenture;

          WHEREAS, pursuant to Section 8.02 of the Indenture, the Issuer and the
Trustee  may amend or supplement the Indenture with respect to the Securities of
any  series  with  the written consent of the Holders of a majority in aggregate
principal  amount  of  the  outstanding  Securities  of  such  series;

          WHEREAS,  Transocean  Sedco  Forex  Inc.,  a  Cayman  Islands  company
("Transocean  Sedco  Forex"),  has  offered  to  exchange all of the outstanding
7.375%  Notes  due  2018 (the "7.375% Notes"), upon the terms and subject to the
conditions set forth in its Prospectus and Consent Solicitation Statement, dated
January  31,  2002,  as  amended by a Supplement dated March 4, 2002, and in the
related  Letter of Transmittal and Consent (the "Exchange Offer"); in connection
therewith  Transocean  Sedco  Forex  has been soliciting written consents of the
Holders  to  the  amendments  to  the  Indenture  set  forth  herein (and to the
execution  of  this  Supplemental Indenture), and Transocean Sedco Forex has now
obtained  such  written  consents  from  the  Holders of a majority in aggregate
principal amount of the outstanding 7.375% Notes; accordingly, this Supplemental
Indenture and the amendments set forth herein are authorized with respect to the
7.375%  Notes  pursuant  to  Section  8.02  of  the Indenture referred to above;

          WHEREAS, the execution and delivery of this Supplemental Indenture has
been duly authorized by the parties hereto, and all other acts necessary to make
this  Supplemental  Indenture  a  valid  and binding supplement to the Indenture
effectively  amending  the  Indenture  as set forth herein have been duly taken;

          NOW,  THEREFORE,  THIS  INDENTURE  WITNESSETH,  that,  for  and  in
consideration  of  the above premises, it is mutually covenanted and agreed, for
the  equal  and  proportionate  benefit  of  all Holders of the 7.375% Notes, as
follows:

          Section  1.     Amendments  to  the  Indenture.
                          ------------------------------

          Upon  consummation  of  the  exchange by Transocean Sedco Forex of all
7.375%  Notes  validly tendered pursuant to the Exchange Offer and not withdrawn
prior  to the expiration date for the Exchange Offer (as notified to the Trustee
by  Transocean  Sedco  Forex upon which notification the Trustee may rely), then
automatically  (without  further  act  by any person) with respect to the 7.375%
Notes:  (a)  Sections  3.03,  3.05, 3.06, 3.07, 3.09, 3.10, 4.01 and 4.02 of the
Indenture shall be deleted and the Issuer shall be released from its obligations
thereunder, (b) any failure by the Issuer to comply with the terms of any of the
foregoing  Sections  of  the Indenture (whether before or after the execution of
this Supplemental Indenture) shall no longer constitute a default or an Event of
Default under the Indenture and shall no longer have any other consequence under
the  Indenture  and  (c)  Clauses  (4),  (5), (6) and (7) of Section 5.01 of the
Indenture shall be deleted and the events described therein no longer constitute
Events  of  Default  under  the  Indenture.  In  conjunction with the amendments
identified  in  the  immediately preceding sentence, the following defined terms
used  in  the  Indenture  shall  be  deleted  with  respect to the 7.375% Notes:
"Attributable  Indebtedness";  "Consolidated  Net  Worth";  "Indebtedness";  and
"Sale/Leaseback  Transactions".

          Section  2.     Ratification.
                          ------------

          Except  as  hereby expressly amended, the Indenture is in all respects
ratified  and  confirmed  and  all  the terms, provisions and conditions thereof
shall  be  and  remain  in  full  force  and  effect.

          Section  3.     Governing  Law.
                          --------------

          THIS SUPPLEMENTAL INDENTURE, THE INDENTURE AS SUPPLEMENTED AND AMENDED
HEREBY AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH
THE  LAWS  OF  THE  STATE  OF  NEW  YORK.

          Section  4.     Counterpart  Originals.
                          ----------------------

          The  parties  may  sign  any  number  of  copies  of this Supplemental
Indenture.  Each  signed  copy  shall  be  an original, but all of them together
represent  the  same  agreement.  One  signed  copy  is  enough  to  prove  this
Supplemental  Indenture.

          Section  5.     The  Trustee.
                          ------------

          The  recitals  in  this  Supplemental  Indenture shall be taken as the
statements  of  the  Issuer  and the Trustee assumes no responsibility for their
correctness.  The  Trustee  shall  be  responsible  or accountable in any manner
whatsoever  for  or  with  respect  to  the  validly  or  sufficiency  of  this
Supplemental  Indenture.

          IN  WITNESS  WHEREOF, the parties hereto have caused this Supplemental
Indenture  to  be  duly  executed  as  of  the  date  first  written  above.

                                         R&B  Falcon  Corporation
                                         By:   /s/ GREGORY L. CAUTHEN
                                            ------------------------------------
                                            Name:  Gregory L. Cauthen
                                            Title: Vice President and  Treasurer

                                         The Bank of New York, as Trustee
                                         By:   /s/ REMO J. REALE
                                            ------------------------------------
                                            Name:  Remo J. Reale
                                            Title: Vice President

<PAGE>

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