This paper describes the use of a global numerical model of the oceans to estimate variations in both the equatorial and axial components of angular momentum resulting from oceanic mass redistribution and circulation. The Parallel Ocean Climate Model, driven by daily wind fields and monthly heat fluxes from the European Center for Medium-Range Weather Forecasts for 1988--1998, provides insight into variations in the transport and exchange of angular momentum, a quantity which is essentially conserved within the Earth system. Exchange of angular momentum between the oceans and the solid Earth should be manifest as changes in the Earth's rotation (both polar motion and length of day), and it is possible to compare predicted Earth rotation changes with actual geodetic observations. Using an inverted barometer assumption for oceans, the numerical model predictions of rotation change agree in sign and magnitude and are significantly correlated with observed polar motion and length of day variations after subtracting the dominant atmospheric contributions. The correlations has a seasonal variation which suggests that the role of the oceans in the excitation polar motion is more important during the Northern Hemisphere summer. Our results indicate that the oceans, to a different extent, account for a significant part of the nonatmospheric angular momentum budget for the Earth, and its fluid envelopes on interannual to submonthly timescales. ¿ 1999 American Geophysical Union