Conrad Appoints Hernandez COO and Announces Resignation of CFO Derbes

Monday, August 23, 2004
Conrad Industries, Inc. announced that the Board of Directors has named Cecil A. Hernandez as its Executive Vice President and Chief Operating Officer, effective immediately. Mr. Hernandez will remain a member of the Board, a position he has held since March 1998. Mr. Hernandez was Conrad’s former Chief Financial Officer between January 1, 1998 and September 30, 2002 and most recently served as President of Summit Management Group LLC. “We are delighted to have Cecil rejoin our executive management team,” said Johnny Conrad, Conrad’s President and Chief Executive Officer. “Cecil has been involved with Conrad Industries since 1988 in various capacities; initially as the Company outside CPA, as the CFO from 1998 to 2002 and Director since 1998. His experience complements the talents of our existing management team, and will help us return to profitability by maximizing the potential of our recently expanded capacity.” Conrad’s current Chief Financial Officer, Lewis Derbes, Jr. has elected to resign as CFO effective September 3, 2004 to pursue other business opportunities. The Board plans to initiate a comprehensive search for a successor. Mr. Hernandez will serve as interim CFO if necessary. Johnny Conrad said, “Lew has done a tremendous job assisting the Company in its recent expansion and growth and has improved our business systems and administrative and reporting processes. We appreciate his dedication and the many contributions that he has made to Conrad and wish him the best in his future endeavors.”

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