July 31, 2003

Taylor takes Tidewater Chair
Tidewater Inc. (NYSE:TDW) announced today that Dean E. Taylor has been elected as Chairman of its Board of Directors. Taylor will also retain the positions of President and Chief Executive Officer, which positions he has held since October 2001 and March 2002, respectively.

Taylor is replacing William C. O'Malley, who has served as Chairman of the Board since 1994. O'Malley will continue as a director of the Company, having been reelected by shareholders to a three year term ending in July 2006.

Tidewater Inc. owns and operates a fleet of over 570 vessels, the world's largest fleet of vessels serving the global offshore energy industry.

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