Admiral Jeremiah Joins Todd Shipyards Corporation Board of Directors

Todd Shipyards Corporation announced that Admiral David E. Jeremiah, U.S. Navy (Ret.) was elected to the Board of Directors of the Company at its annual meeting of shareholders on Friday, September 12, 2003. Admiral Jeremiah is President of Technology Strategies & Alliances Corporation, a strategic advisory and investment banking firm engaged primarily in the aerospace, defense, telecommunications and electronics industries. Prior to his retirement from the U.S. Navy in 1994, he was Vice Chairman, Joint Chiefs of Staff from 1990 to 1994 and Commander-in-Chief of the United States Pacific Fleet from 1987 to 1990. Admiral Jeremiah serves as Chairman of the Board of Directors of Wackenhut Services, Inc. and serves on the Boards of Directors for Alliant Techsystems Inc., Geobiotics, LLC and the Board of Trustees for MITRE Corporation. He further serves on the advisory boards for Northrop Grumman Corporation and the Jewish Institute for National Security Affairs. He also serves as Chairman of the ManTech International Advisory Board.