Conrad Adds to Management Team

Tuesday, February 22, 2005
Conrad Industries, Inc. announced today the appointment of Terry T. Frickey as Vice President and Chief Operating Officer, effective immediately. Terry will report to the Chief Executive Officer and have overall responsibility for the operations of the Company’s four shipyards. “We are excited to have Terry join our executive team,” said Johnny Conrad, Conrad’s President and Chief Executive Officer. “Terry has been involved in the shipyard business since 1971 in various management capacities including General Manager, Manager of Operations and President and Chief Executive Officer. Most recently, Terry was Vice-President and General Manager of the Bollinger Houston shipyard and Manager of Repair Operations for the LEEVAC Industries Repair Group.

From 1991 to 1994 he was President of Service Marine Industries, Inc. in Morgan City, Louisiana. He served as Chairman of the Shipbuilders Council of America in 2001.”

Cecil A. Hernandez, the current Executive Vice-President and Chief Operating Officer and interim Chief Financial Officer will become Executive Vice-President and Chief Financial Officer.

Additionally, Richard D. Allen has joined the Company as Assistant Operations Manager. “We are pleased to have Richard join our team,” said Mr. Conrad “Richard brings over 39 years of shipyard experience in various capacities starting at welder/fitter, foreman, superintendent, Yard Manager, General Manager, V.P. of Operations and President. Most recently, Richard was President of Newpark Shipbuilding – Pelican Island which was part of First Wave Marine. He was with Bludworth Bond Shipyard and John Bludworth Marine for over 22 years before John Bludworth Marine was purchased by First Wave in 1998.”

“The addition of these two very experienced managers will complement our current management team, help the Company execute our increasing backlog of more sophisticated projects, and enable the Company to take advantage of other market opportunities.”

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.

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