Diamond Offshore 401k Plan PSDS Scan 12/31/2008

Another plan helped by company stock DO and the Balanced portfolio invested 6.3% of the plan in the stock. It is very volatile like most energy stocks. The employee portfolio had 5.0% in the company stock and 38.3% in the stable value fund FMIP2 in the scan. That portfolio returned only 2.82% as their mutual fund investments were all hurt by 2008. Most have bounced back in 2009 and DO stock is up 85.8% year-to-date.