Seabulk Issues 2Q Guidance

Seabulk International, Inc. stated that, for the second quarter ended June 30, 2003, it expects to report revenue of at least $78 million, income from operations of at least $10.5 million, and depreciation, amortization and drydocking of approximately $16.2 million.

For the three months ended June 30, 2002, the Company reported revenue of $81.6 million, income from operations of $8.5 million, and depreciation, amortization and drydocking of $16.6 million.

Average day rates for the Company's anchor-handling tug/supply vessels and supply boats at June 30, 2003 were approximately $5,000 in the Gulf of Mexico, $7,200 in West Africa, $3,600 in the Middle East and $5,200 in Southeast Asia.

The Company expects to report its full results for the quarter ended June 30, 2003 and file its Form 10-Q on or about August 14, 2003.