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AUGUST 2008 ISSUE

OFFSHORE DRILLING
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August 25, 2008

Harvey Gulf buy out complete

Harvey, Louisiana, based Harvey Gulf International Marine, Inc., today announced the closing of its purchase by two of its previous owners and executives, in partnership with The Jordan Company, a leading middle market private equity firm. The total purchase price was approximately $500 million.

Shane Guidry will stay on as Chairman of the Board and Chief Executive Officer, while Shawn Guidry continues as the Executive Vice President and Chief Operating Officer. Robert L. Gwinn has been promoted to President and Chief Sales Officer.

"Harvey Gulf is the leader in towing the largest drilling rigs in the Gulf of Mexico. In addition, Harvey Gulf has been known for providing customers with a consistently high level of service while meeting strict safety standards. With financial and operational support from The Jordan Company, we will be able to continue to invest in the new generation of technology, services and capacity needed to serve the growing needs of the marine and oil industry," said Shane Guidry.

"We are very excited to be backing Harvey Gulf and the Guidry family as they have built this company into a leader in the marine and oil industry. Building upon their success, we believe there are opportunities to further grow the business, meeting the increasing needs of its customers," said Richard Caputo, Managing Principal at The Jordan Company.

Mayer Brown LLP advised The Jordan Company on the investment.


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