FGH Completes Rig Repair

Thursday, July 26, 2001
Friede Goldman Halter, Inc. (FGH) announced that FGO, the company's rig segment, has completed repairs to the Noble Amos Runner, an EVA 4000 semisubmersible which was damaged by an offshore supply vessel (OSV) during drilling operations. The rig had to undergo replacement of damaged structural elements. Noble also utilized the time to perform other minor modification work. The rig departed on budget and ahead of schedule. "We are very cognizant of the revenue loss our customers may suffer if their work is delayed. Meeting or beating their schedule is important to us and our customers," stated Anil Raj, chief operating officer of Friede Goldman Halter. The Noble Amos Runner is among several projects including two (2) power barges, a jackup repair, a drillfloor/substructure package and the shipyard phase of Bingo 1 recently completed by Friede Goldman Offshore. Friede Goldman Offshore previously converted the rig into an EVA 4000 and delivered the Noble Amos Runner to Noble in August 1999.

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