GULF OFFSHORE 2002
June 5 & 6, 2002
Grand Casino Biloxi-Islandview Hotel
Biloxi, MS

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April 26, 2002

FGH completes AmClyde sale
Friede Goldman Halter, Inc. has closed the previously announced sale of its AmClyde Division located in St. Paul, Minnesota, for approximately $36 million to Norway's Hydralift ASA, a Norwegian company.

President and CEO Jack Stone said completion of the AmClyde sale provides "a major portion" of the liquidity necessary to accomplish the bankrupt company's financial restructuring as it moves toward Court approval of its Plan of Reorganization.


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