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Bollinger Announces Promotions

Maritime Activity Reports, Inc.

October 24, 2002

Bollinger Shipyards, Inc., has promoted and/or assigned new responsibilities to the following members of its management team in order to meet the demands of increased business, new products, expanded services and new technologies according to Donald T. "Boysie" Bollinger, chairman and CEO of the Lockport, La., headquartered shipbuilding and repair company. Mike Ellis has been promoted to executive vice president and chief operating officer of the company. "Mike's leadership ability and strategic vision has afforded him the opportunity to take on additional responsibilities within our organization", said Boysie Bollinger. Ellis joined Bollinger in 1998 as chief financial officer and will now be responsible for the overall operations of the company. Walter Berry, formerly chief operating officer, has joined Bollinger/Incat USA, a strategic alliance between Bollinger Shipyards, Inc., and Incat Australia Pty. Ltd. to market and build high-speed aluminum catamaran ferries and transport ships for U. S. commercial and military markets. Ben Bordelon, formerly special projects coordinator, has been promoted to executive vice-president, repair. Bordelon has held numerous ship, boat and barge repair positions and has recently been named to Bollinger's board of directors. Cathy Green, who joined Bollinger in 1999 as corporate controller, and later became vice-president, controller and treasurer, is now vice-president, chief financial officer and treasurer. Her responsibilities now include the company's treasury functions, accounting, risk management, legal and management information systems. Craig P. Roussel, vice-president, corporate operations has assumed responsibility for environmental affairs and compliance as well as the ISO (International Standards of Operations) department. He retains responsibility for procurement, corporate foreign trade zone operations, tax incentives and related services. Doug Taylor, formerly director of human resources, has been named vice-president, human resources. In addition to retaining responsibility for human resources, he has assumed responsibility for safety training and functions throughout the company.

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